Major Innovation Survey - Disrupting the future - CBI Industry Report

Last year I was interviewed by the CBI on emerging technologies and the construction industry as part of their Innovation Survey. I received a hard copy of the resulting report a few days ago and it was nice to see a quote from that interview included...

CBI Report on Disrupting the Future

The report focuses on the three technologies that the survey suggested would have the biggest industry impact in the upcoming years.

• Artificial Intelligence
• Blockchain
• The Internet of Things

It's a free report that gives an introduction to each subject, then insight into likely adoption patterns, opinions, case studies, barriers, recommendations and tips. Download now for free to have a read:

- http://www.cbi.org.uk/insight-and-analysis/disrupting-the-future/

Disrupting the Future - CBI Innovation Report

Some bits and pieces that I highlighted from the report are below:

Introduction:

• Adoption of technology is essential to raising productivity, spreading properity and opening-up new paths for growth.
• Artificial Intelligence, Blockchain and the Internet of Things are set to go mainstream.
• The Internet of Things unlocks data. Artificial Intelligence solves problems. Blockchain changes how businesses exchange value.
• A third of companies declare themselves 'early adopters' of technologies. A quarter of companies declare themselves as 'followers'.

Artificial Intelligence:

• Has transitioned from programmed 'intelligent' behavior (the enemy in a computer game) to 'neural networks' that work in a similar way to the human brain.
• Over the next five years AI holds the top spot as the technology set to impact across all sectors
• 90% of the world's data has been created in the last 24 months
• Although not yet used in construction, around 35% expect to use it within the next five years. However, almost 50% of technology companies already use it.
• 75% of businesses recognise that AI will help with prediction and pre-emptive decisions

Block chain:

• A virtual record of transparent, secure, transactions
• Some good contribitions from the Construction Blockchain Consortium (check out the events part of their website)
• Planned investment is currently highest in professional service and financial service sectors. Lowest in manufacturing and construction.
• Trust and transparency, Unparalleled security, Removes inntermediaries
• Good to see a contribution also from hedgehog lab also based in Newcastle:
  https://blog.hedgehoglab.com/an-introduction-to-bitcoins-and-blockchain

The Internet of Things:

• Enables businesses to understand what is happening in their operations in real time and chart a path towards significant productivity improvements.
• Works with 'big data' so marries perfectly with AI.
• Momentum is building, over 70% of companies say that IoT will be critical to their future success.
• Case studies from Polar Krush (monitoring their drinks machines performance) and Van Moof bikes (never have your bike stolen again)
• In terms of barriers to adoption - security of devices and the data they provide is the number one challenge to overcome

So, just a summary of a thought provoking report, download below:

- http://www.cbi.org.uk/insight-and-analysis/disrupting-the-future/

This is a good presentation below from the CBI Annual Conference 2017. Presented by Omar Abbosh Chief Strategy Officer ‎Accenture: