7 tips for vetting the business value of emerging tech

Will a promising new technology be truly transformative or destructively disruptive? Only due diligence will reveal the truth.

7 tips for vetting the business value of emerging tech

There's no shortage of promising new technologies. The challenge lies in pinpointing the specific tools that have the potential to bring real value to your organization by lowering costs, improving efficiency, providing deeper insights or opening the door to new business opportunities.

There was a time when enterprises could allow competitors to play the role of tech trailblazers, assuming the risks, costs and bumps and bruises that test the resolve of early adopters, says Woody Driggs, digital transformation wavespace leader at IT consulting firm EY Americas Advisory. The tide has now turned, however. "With the increasing pace of innovation and disruption we're seeing today, it may just be that a fast-follower business and technology strategy will soon be a thing of the past," he observes.

These days, it's increasingly vital to adopt emerging technologies to build and maintain competitive advantage — but only after carefully gauging a potential acquisition's risk and value. Here are seven ways to ensure any emerging tech you deploy will live up to its promised benefits.

1. Pinpoint the business value

Technology projects should be focused on delivering clear business value, Driggs says. "This is even more important today, given the pace at which new technologies are being introduced and the speed they are being adopted," he notes. "Making a decision to proceed with a new technology is all about its ability to help you achieve the business outcome you are looking for."

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