In a world that changes at the click of a button, it’s essential to keep up-to-date with the technology trends that have the potential to change the digital landscape. Check out five of the developments the Deloitte’s annual Technology Trends 2014 report noted as causing positive disruption in IT capabilities, and see if any can be applied to your business.

Chief information officers as venture capitalist

Deloitte’s research suggests that CIOs who want to drive their businesses forward should start thinking like venture capitalists and look for ways to increase enterprise value. It also says that CIOs should be looking at how they can evaluate their portfolios in ways that business leaders understand, measuring in terms of value, risk, and time horizon to reward. The most successful CIOs will be the ones who can marry these skills with the ability to best align IT talent to achieve them.

Cognitive analytics

The kind of artificial intelligence and natural language processing that may have once seemed like the stuff of science fiction is becoming a reality which has the potential to change the way we do business. Cognitive analytics could be a way for businesses to bridge the gap between big data and the actual decision making going on in the minds of customers.

Industrialised crowdsourcing

Crowdsourcing can be a fantastic way to source much-needed skills and turn difficult jobs into easy ones and, if it’s possible for businesses to mine these resources in an industrialised way, it could cut costs and expand horizons. However, for this to be successful, innovation is needed to break down a number of barriers and make the partnership a profitable one for all parties.

Digital engagement

As more and more assets become digital, companies will be expected to find new ways to drive engagement. From in-store apps to be accessed in the real world to on-location videos and content, the challenge will be coming up with opportunities to monetise engagement – especially in situations where the core product has become intellectual property, rather than a physical item.

Wearables

Great strides have been made in the field of wearable computing – from Google Glass to the new iWatch – and these could have a huge effect on IT. Deloitte believes that hands-free technology will change the way decisions are made and affect the way you interact with employees and customers alike. Wearables could also be transformative in situations where computer access is not normally possible, for safety or practical reasons. While it is currently a commodity aimed at consumers, businesses have the opportunity to shape application.

Want to stay ahead of the pack? Keep an eye on digital and IT developments and always be willing to innovate.