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Team Eela
According to Forrester’s latest report, “The Top 10 Emerging Technologies in 2023,” several technologies are poised to deliver substantial returns on investment for enterprises in the near future. The report highlights the significance of generative AI and conversational AI, emphasizing the need for businesses to manage associated risks while capitalizing on their potential.
Generative AI, a leading emerging technology, is predicted to yield significant returns for most enterprises within the next two to four years. However, businesses must navigate challenges related to trustworthiness, evolving regulations, and potential intellectual property complications to fully benefit from generative AI applications.
Despite these risks, generative AI is highly recommended for investment due to its wide-ranging impact and ability to expedite the development of other emerging technologies, such as autonomous workplace assistants (AWAs) and conversational AI.
Conversational AI, enabled by generative AI, is identified as the second top emerging technology with the fastest ROI potential. E-commerce, B2B sales, and customer service functions are expected to witness the most significant impacts from implementing conversational AI. AWAs, on the other hand, are set to deliver immediate benefits to most firms, as they are equipped to handle increasingly complex yet repetitive human tasks.
“While many emerging technologies show great promise, tech leaders must assess whether these technologies can deliver value and if their business can navigate their associated risks,” said Brian Hopkins, Forrester VP of emerging technology portfolio.
“This means side-stepping misinformation, mitigating poor decisions driven by a fear of missing out, and narrowing the focus from the shiny objects to the few technologies with real potential. Firms must also ensure that their time frame for implementing these technologies is commensurate with their overall risk/reward tolerance,” Hopkins added in the report.
As enterprises maximize their investments in emerging technologies, carefully considering each technology’s potential and associated risks is crucial. Forrester’s report is a valuable guide to help businesses navigate the evolving technological landscape and make informed decisions regarding their future investments.
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