Nearly two-thirds of executives polled in this year`s Economist Intelligence Unit CEO Briefing cited technology advances as being the most critical driver of change in a global marketplace.
This year`s survey revealed that 58% of those polled felt technology advances were the critical driver, compared to 37% two years ago.
Co-sponsored by Dimension Data, the Economist Intelligence Unit CEO Briefing is a business survey focusing on what executives consider to be the key issues in the ICT industry.
According to the report, lowering costs and maximising competencies (47%), increasing customer satisfaction (46%), and performance and process improvements/operational efficiency (36%) are the top three strategic priorities for companies over the next three years.
The survey states that, with these figures in mind, "it is not surprising, therefore, that business enthusiasm for the transformational power of technology has been renewed".
The majority of professionals also felt the focus for organisational change is on sharing information more quickly and widely across the enterprise, with 77% of executives citing this issue, compared with only 58% last year.
The keys to ensuring companies deliver on these strategic priorities were identified as being information technology tools such as the Internet, mobile data systems and business intelligence solutions.
"Businesses today are looking to technology to work for the benefit of the business, as technology can no longer be viewed as an isolated function," says Derek Wilcocks, executive director of strategy at DiData.
"Technology is an extremely effective tool in terms of delivering operational efficiency, cost reduction and customer satisfaction, and it also contributes towards ensuring corporate governance compliance with regards to monitoring, management and performance optimisation."
As far as forthcoming technologies go, the survey indicates that third-generation (3G) technology will likely have the most impact on consumers during the course of 2005.
Other key issues identified in terms of technological impact include the fact that a new generation of Internet media and entertainment applications will be driven by the further penetration of cheap, high-speed broadband, and portable computers and technology will transform the workplace and will assist the distribution of information through complex mobile networks.
Some 20% of executives claimed that mobile and wireless technology had become fundamental to their operations, while the Internet was viewed as being omnipresent and critical for 45% of companies.
It was also reported that in a separate poll conducted by the Economist Intelligence Unit, voice over Internet Protocol (VOIP), will play a crucial role in helping businesses to rationalise their communication infrastructures over the next three years.
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