Last month, the McKinsey Global Institute published Ten IT-enabled business trends for the decade ahead. As is generally the case with McKinsey, this is a well researched, well written report. There are few surprises. Any technology expected to have a transformative impact on business over the next decade has to at least be already in the hands of leading edge users. Disruptive innovations take time to play out.
“Many trends reflect the growing dominance of the Internet as an enabling technology, as well as a model and metaphor for commercial and social interactions,” says the report in its introduction. “Twenty years into the Internet revolution, businesses and consumers have come to expect that information is a Google search away, friends and associates are always available on social networking sites, and goods and services (including public goods such as education and government services) can be had instantly from an online vendor anywhere in the world at any time of the day.”
The social matrix, the Internet of all things, big data and advanced analytics, and realizing anything as a services are the report’s top four trends. SMAC - Social, Mobile, Analytics & Cloud, - has become the new plastics, capturing the future of IT in one word, or rather, one acronym. Just about everyone agrees that these are foundational technologies, like the Internet twenty years ago, that every business must embrace.