Connect with us

Hi, what are you looking for?

Editor’s Pick

Business Leaders Looking for More Innovation According to New Survey

<?xml encoding=”utf-8″ ??>

A recent survey has confirmed that the majority of company leaders regard innovation as one of the key priorities.

With the latest technology being used to provide new ways of progressing and making money, this suggests that we should continue to see new products and services appear that take advantage of the metaverse and other cutting-edge technology.

Some of the Latest Signs of Innovation

We can see some of the most important changes by looking at the retail industry, where augmented reality (AR) and virtual reality (VR) are used to provide a blended shopping experience whether the consumer is at home or in a store. This lets them try on clothes virtually or see what a piece of furniture would look like in their house.

The latest streaming technology has been put to good use on this site where you can play online roulette for real money. Their live dealer games are played on a physical roulette table where a human dealer spins the wheel, but the use of AR in some games allows players to place their bets and see them appear on the table. This adds up to a genuine casino feeling that players can try at any time without leaving home.

Artificial intelligence (AI) is another area where changes have been implemented in different industries. This technology is used to provide better customer service thanks to its use in chatbots, while the banking sector uses AI to help clients stay and health providers can make swifter diagnoses with this help.

What Did the Survey Reveal?

This research was carried out by Ernst & Young and they spoke to more than 250 leaders in the technology business. An overwhelming majority of 94% of them confirmed that they currently plan to increase the amount they invest in new technology and emerging solutions, despite the current uncertain economic climate.

In fact, almost three-quarters of those who responded feel that the uncertainty in the economy right is going to provide a positive aspect by boosting their company’s innovation. This is due to businesses needing to adapt their strategies to the current situation and use new technologies to make them stronger.

The poll also revealed that more than half of the executives who took part are planning to make investing in the metaverse one of their main objectives in the near future. We’ve already seen this technology used in many ways such as for fashion shows, product placement, and attempts to gain a higher level of customer engagement.

AI is one of the other main areas of focus, with around 90% of those who took part saying that they want to look more deeply into the likes of OpenAI and ChatGPT. The figure drops slightly, to 80%, when we look at the companies that plan to invest more in AI this year, but it’s worth noting that 56% of businesses are investigating AI with the idea of saving money.

All of these points suggest that we can look forward to seeing more exciting business innovations before long. The idea of investing in the latest technology to get through a difficult economic downturn is particularly important, as it suggests that doing this is no longer considered as being something that only gets priority status during the good times.

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



BW FILE PHOTO By Keisha B. Ta-asan, Reporter THE BANGKO SENTRAL ng Pilipinas (BSP) on Thursday cut banks’ reserve requirement ratio effective June 30,...


A worker is seen inside a manufacturing plant in Sto. Tomas, Batangas, March 1, 2023. — PHILIPPINE STAR/KRIZ JOHN ROSALES MANUFACTURING OUTPUT in the...


REUTERS BAD LOANS of Philippine banks rose in April, bringing their nonperforming loan ratio to the highest in seven months, the central bank said...


SEAN YORO-UNSPLASH GLOBALSOURCE PARTNERS, Inc. kept its Philippine growth forecast for 2023 and 2024 as it lowered its inflation outlook for this year, but...


Pauline Castro, head of traffic strategy at Lazada Philippines Whether with big brands or as “nanopreneurs” managing their small shops, Lazada provides sellers with...


TOP FRONTIER Investment Holdings, Inc. has agreed to the subscription of shares by Far East Holdings Inc. valued at about P10.86 billion or an...

You May Also Like


COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...


REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...


BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...


KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...

Disclaimer: Respect, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.