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Entrepreneurs Panel

Jeremy Roberts
Steve Purdham
Michael Oliver
Brian Hay
Jennie Johnson
David Pollock
Debbie Pierce
Richard O'Sullivan
Julie Meyer
Tony Caldeira
Charlie Mullins
Laura Tenison

91% of UK businesses 'will no longer be competitive' by 2020

Nine out of 10 businesses will no longer be competitive by the end of the decade because of new technology, according to a new report.

The survey of office workers by digital consultancy Infomentum found that half believe their organisation needs to invest in new technology to keep up over the next few years.

At the same time, however, there is a feeling of unease that surrounds these technologies, with many firms simply "jumping on the bandwagon" rather than strategically considering which tech will and will not work for their wider business goals.

It's not businesses that need to prepare for big changes through technology, with 61 per cent of workers expecting their own professions to become increasingly automated by 2020.

Nearly 40 per cent of respondents would like to be able to work flexibly outside of a traditional office, while 37 per cent believed that their organisations will need to offer flexible working in order to stay competitive.

Despite this, two-thirds of employers still do not allow employees to work from home, while one in 10 consider flexible working to be little more than a form of "skiving". Men were also 12 per cent more likely to be allowed to work from home than women, as well as being eight per cent more likely to secure flexible working hours.

Vikram Setia, chief commercial officer at Infomentum, said: "As technological advancements reach a pace of near constant change, businesses must be more sensitive than ever to the way new technologies are affecting reputations and ultimately bottom lines. As we move towards 2020, this constant change is no longer something that businesses must prepare for, but rather a reality that all organisations must embrace. Businesses, employees and even governments will all be affected.

"Attempting to fight against this torrent of change is to try and fight the future itself. Improvements in technology, automation and efficiency are coming, the only thing we as businesses can do is embrace this fact and attempt to lead the change."

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