China, US to lead tech innovation

cloud-enabled consumer technology and business transformation for enterprises leading the chart, a KPMG survey has revealed, The Economic Times reports.

"Technology executives worldwide believe China and the US will be at the forefront of technological innovation, with the cloud technology enabling both the next indispensable consumer technology and business transformation for enterprises," it said.

According to PC World, the survey results indicate that 44% of respondents expect the world's main tech innovation centre to move from Silicon Valley to another location outside the US. "Forty-four percent of those respondents who believe the centre will shift [say it] will move to China," said Egidio Zarrella, Clients and Innovation Consulting, KPMG China.

"The broader high-tech environment in China is emerging at speed and scale, and is seen as one of the game change enablers for the country's economic transformation."

Consultant News quoted Tudor Aw, technology sector head, KPMG Europe, as saying: "More and more technology executives believe that, when it comes to tech innovation, the centre of gravity is moving east. Until now, China has been better known for its disruptive cost model rather than its disruptive technologies, but things are beginning to change.

“The results confirm our findings from previous research. Most tech executives would agree on where the big opportunities are; the challenge will be executing on these opportunities. The winners will be those who get the consumer experience right and who manage to dispel widespread concerns among consumers about privacy and data security,” Aw concluded.