Accenture: Generative AI to usher in a bold new future for business, merging physical and digital worlds 

• 99% agree that emerging tech Investments will ensure organizational resilience
• 98% state that  generative AI pivotal in organisations' strategies in 3-5 Years

New research from Accenture finds that generative AI and other rapidly evolving technologies are ushering in a bold new future for business as physical and digital worlds become inextricably linked. 

In a statement, the firm said its Accenture Technology Vision 2023, titled “When Atoms Meet Bits: The Foundations of Our New Reality,” explores the technology trends underpinning the convergence of the physical and digital, as businesses look to accelerate enterprise reinvention in the here and now. 

It said with 99% of Malaysia executives agreeing that investments in emerging technologies will help their organisations remain resilient on the global stage, this year’s edition of the report offers businesses insights on the steps needed for enterprises to thrive today, where the physical and digital experiences are increasingly converging.

According to the report the meteoric rise of ChatGPT has captivated the world’s attention on the power of generative AI to augment human capability. In fact, 98% of Malaysia’s executives agree that advancements in generative AI are ushering a new era of enterprise intelligence, and expect that such AI foundation models will play an important role in their organisation’s strategies in the next three to five years.

The report identifies four trends that are key to unlocking this new shared reality. These include: 

• Generative AI: Advancing human capability as a co-pilot, creative partner or advisor, nearly all Malaysian executives agree that generative AI will spark significant creativity and innovation (99%) and that AI foundation models will enable connections across data types, revolutionizing where and how AI is used (95%).
• Digital identity: Ability to authenticate digital users and assets—the foundation for traversing digital and physical worlds—is now seen by 95% of executives in Malaysia as a strategic business imperative, not just a technical issue.
• My data, your data, our data: AI cannot reach its full potential until companies figure out data. That means breaking down data silos and modernizing their data foundations. In fact, 95% of Malaysian executives believe data is becoming a key competitive differentiator within organizations and across industries.
• Our forever frontier: Feedback loop between science and technology is getting faster, with each accelerating the advancement of the other, in ways that 100% of respondents in Malaysia believe could begin to unlock the world’s grand challenges. 

Azwan Baharuddin, country managing director, Malaysia at Accenture said technology innovation presents an exhilarating frontier for Malaysia, thanks to the government's persistent efforts in fostering a digital-savvy society to drive economic growth and transformation. 

“The introduction of Malaysia Digital last year exemplifies the country's commitment to harness technology’s potential,” he added. 

“We are witnessing a seamless convergence of the physical and digital realms, creating a shared reality. With 95% of Malaysian executives and 98% of global public service executives agreeing that this convergence will transform their industries in the next decade, both the public sector and businesses in Malaysia must adapt and evolve accordingly,” Azwan said. 

He added that this year’s Technology Vision report explores trends such as the blurring of boundaries between the physical and digital realms, the resolution of complex problems, and the revolutionary impact of scientific and technological advancements driving this convergence. It provides essential guidance to thrive in this new landscape.

For more information on this year’s report, visit www.accenture.com/technologyvision.