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Technology: opportunity or threat?

Most OMBs view technology as an opportunity rather than a threat.

Hardly a day goes by without some form of technological advance involving the cloud, automation, robotics or machine learning featuring in the media. The good news for the UK economy is that over half (56%) of OMBs surveyed view such advances in technology as a medium to long-term opportunity – and another 23% see them as an immediate opportunity.

Some OMBs, however, are fearful of the impact of technological change: 18% of survey respondents see technological advances as a medium to long-term threat, while 3% identify an immediate threat to their business. One manufacturing and engineering OMB sees an immediate threat from the high pace of change in the automotive industry. Other OMBs comment on the potential for artificial intelligence, automation and robotics to “decimate” or challenge their businesses.

For a deeper look at the ways in which OMBs view technology and its impact on their businesses, download our annual report here.