Start with a strong vision and operating model and focus on the customer experience \u2013 not just the technology Andy Symons, PwC\nPwC says artificial intelligence (AI) and the Internet of Things (IoT) are the most advanced of the emerging technologies in New Zealand and some Kiwi companies are already banking the returns.\nAugmented reality, 3D printing, drones and robotics will grow in disruptive significance in the next three years but AI will boost the global economy by US$15.7 trillion by 2030, according to PwC's Commercialising Innovation Report.\n\u201cLeading the way in the AI space are Kiwi companies and innovators like Soul Machines," says Andy Symons, partner and innovation leader, PwC New Zealand.\n"Their avatars could be amongst the first digital employees and are designed to work on well-known AI platforms and operate with realistic facial expressions and muscles as well as the ability to detect emotion in the person they are interacting with.\n\n\u201cThe avatars can provide the digital interface but as organisations increasingly look to use AI platforms to transform their businesses, data availability and data quality will become a central focus for them,\u201d says Symons.\n\u201cThe recipe for success will be to have reliable data that is correctly stored and accessed, and the ability to combine emerging technologies with good innovation capability that will actually result in something with a commercial value.\u201d\nBuilding increased innovation into a company culture isn\u2019t easy, according to PwC, but it\u2019s something every organisation is going to have to focus on if they want to be future leaders. It requires commitment from all levels in the organisation.\nHave reliable data that is correctly stored and accessed, and the ability to combine emerging technologies with good innovation capability that will actually result in something with a commercial value Andy Symons, PwC\nAI makes a mark on nine key industries\nPwC says the impact of emerging technologies can already be felt across financial services, energy, healthcare, manufacturing, retail, government, automotive, transportation and logistics, and technology, communications and entertainment.\n\u201cI believe that healthcare, government and financial services will be the sectors that will have a stronger focus on artificial intelligence. These industries have significant scale issues and they need to transform to align with customer expectations. They understand the fact that they need to take their customer service to a whole new level in a scalable, smart way,\u201d states Symons.\nOver the last few years we\u2019ve seen the emergence of robo advice, smart metering, automation of production processes, content and product recommendations, and more automated driving assistance, he says.\nHe notes some of the long-term predictions organisation can look forward to are highly personalised financial services products tailored to match customer preferences, robot doctors, fully automated surgery, driverless and on-demand public transport, improved renewable energy management and 24x7 smart customer services that empower consumers and businesses and make lives easier.\n\u201cThese are just the solutions we can predict now but potential opportunities for commercialising innovation will come from areas we haven\u2019t even thought of yet \u2013 this is the nature of disruption and the global market that companies now operate in,\u201d says Andy.\nThe role of business leaders is to remain focused on their enterprise strategy, to work through what AI might mean for them and their customers, and what talent and culture they will need to experiment in a fast, dynamic and cost effective way so that they can deliver on the potential that AI brings. \n\u201cSmart organisations are already experimenting with incorporating AI driven solutions and propositions into their organisations. The successful ones will have a strong sense of their enterprise strategy and therefore how emerging technologies, including AI, will feed into the customer problems that they want to solve,\u201d he says.\n"The solution to successfully commercialising emerging technology is to start with a strong vision and operating model and focus on the customer experience \u2013 not just the technology."\nNo caption\nWhat\u2019s next?\n\t\t\t\t\t\t\nPwC lists some questions executives and boards need to ask in developing an innovation process that drives commercial results:\n\t\t\t\t\t\n\t\t\t\t\nWho owns the innovation process in your organisation?Is their focus purely internal or are they also identifying external partnership opportunities?Who do they report to? The CEO? Or another executive?How is your organisation identifying and generating new ideas to explore? Is this process technology-led or focused on customer problems?Does your company culture support or stifle innovative ideas?At what stage are you involving customers in the innovation process?How advanced is your exploration of the Essential Eight and other emerging technologies?No captionAre you focused on more mature technologies, or are you also exploring those that are still emerging?What\u2019s the innovation process you\u2019re using to turn ideas into viable products? No caption\nSend news tips and comments email@example.com\nFollow Divina Paredes on Twitter:@divinap\nSign up forCIO newsletters for regular updates on CIO news, views and events.\nJoin us on Facebook.