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China will rival the US as the country with the biggest potential to develop key technology breakthroughs with a big impact on the business world, according to a survey of more than 650 executives in industries such as computing and electronics.
According to the poll, organised by the KPMG consultancy, Chinese companies and researchers are beginning to develop expertise in fields such as artificial intelligence and advanced software that will lead to disruptive changes in products and services and as a result provide China with a big economic boost.
In the study, 30 per cent of the executives asked to give their views said that China will be the single biggest global hotspot for innovation within the next four years, with the US in second place attracting 29 per cent of the votes.
India, Japan and South Korea came next in the poll, with 13 per cent, 8 per cent and 5 per cent of the respondents to the survey naming these countries.
Chinese companies named as being among the likely leaders in technology over the next few years include the Tencent and Baidu internet businesses and Huawei, the fast growing telecoms equipment group.
Areas of technology where Chinese companies are seen as developing specific strengths include gaming software and cloud computing. Other disciplines where China is regarded as having the capability to push ahead in innovation include low-energy industrial processing and nanotechnology the science of tiny particles.
The executives who answered questions in the survey work in technology-based businesses around the world, mainly in North America, Europe and the Asia-Pacific region.
Tudor Aw, KPMGs head of technology in Europe, said that the results showing China was a fast developing rival to the US in technology were surprising given the countrys relatively poor showing in devising important technical innovations over the past 30 years.
I think what the survey shows is that the big advances in education in China, and the money being put into technology development, are likely to lead to breakthroughs in a way that many people might not expect, Mr Aw said.
He added that the speed of change in technology often was extremely fast as shown, for instance, by the fast rise to prominence in mobile telecoms by Nokia, together with the Finnish companys equally rapid descent.
Given the likely pace of change in the coming years in many areas of technology, it becomes plausible to think that China in spite of its lack of a record in the past few years in this field could be the country where the leading examples of innovation take place, Mr Aw said.
Among the factors that could hold back technology innovation were governments clamping down on the amount of personal information shared over the internet.
On the assumption that privacy fears were to lead to restrictions, then incentives to devise new ways to use the information would inevitably be reduced, according to people who participated in the survey.
China to rival US tech knowhow, say execs - FT.com
Slowly but surely we will get there.China will be the number 1 innovative country in the world in 3 years time.
China to Over Take Silicon Valley Claims Report
Almost half of all global executives polled believe that the technology innovation center of the world will move from Silicon Valley to another country in the next four years according to a survey published Wednesday.
KPMG’s global Tech Innovation Survey 2012 found 43 percent of respondents said Silicon Valley’s crown would be passed elsewhere by 2016. China was named as the country most likely to be the next innovation centre (45%), followed by India (21%) and Japan (9%) and Korea (9%).
Israel came in fifth while Europe barely featured.
The survey also found that China and the U.S. are the two countries most likely to come up with “disruptive technology breakthroughs” that will have a global impact in the next two to four years.
Despite the figures, Tudor Aw, Technology Sector Head for KPMG Europe, while recognizing the shortcomings in Europe was not overly gloomy.
“The U.K. in particular has always been one of the leaders in creativity, but it has been poor at is taking that creativity to a commercial model.”
Mr. Aw did admit that the lack of skills and the relative low numbers of engineers in Europe might be a problem, but the sort of companies that were creating disruption were much faster to build and less reliant on heavy engineering skills.
“The [low] number of hardware and software engineers will not be as big a barrier as it would be if we were trying to create the next Rolls Royce.
“But if you think of something like Facebook, companies like this can be built in 2-3 years.”
Mr. Aw was not surprised by the growth of China as a center of disruption. “You only have to look at the Japanese car industry. It started by disrupting the cost model, only then did it start to move up the value chain.”
Asked about the next technology breakthrough that will result in the greatest business transformation four years from now, 28% of respondents named mobile technologies, smartphones and tablets, 17% cloud computing and storage and 13% advanced IT and 3D technology.
The survey was conducted among 668 global technology leaders, with one-third from the U.S. and Canada, 14% from China, and 9% from Israel. The remaining half was from Asia and EMEA. The mix included technology startups (32%), mid-market enterprises (37%), large tech companies (23%), with the remainder from venture capital firms and angel investors.
The high-level survey drew a large percentage of responses from the C-suite, with CEOs alone comprising 20% of those polled. Entrepreneurs, M&A directors, corporate development and strategy execs also were represented.
China to Over Take Silicon Valley Claims Report - Tech Europe - WSJ
According to the poll, organised by the KPMG consultancy, Chinese companies and researchers are beginning to develop expertise in fields such as artificial intelligence and advanced software that will lead to disruptive changes in products and services and as a result provide China with a big economic boost.
In the study, 30 per cent of the executives asked to give their views said that China will be the single biggest global hotspot for innovation within the next four years, with the US in second place attracting 29 per cent of the votes.
India, Japan and South Korea came next in the poll, with 13 per cent, 8 per cent and 5 per cent of the respondents to the survey naming these countries.
Chinese companies named as being among the likely leaders in technology over the next few years include the Tencent and Baidu internet businesses and Huawei, the fast growing telecoms equipment group.
Areas of technology where Chinese companies are seen as developing specific strengths include gaming software and cloud computing. Other disciplines where China is regarded as having the capability to push ahead in innovation include low-energy industrial processing and nanotechnology the science of tiny particles.
The executives who answered questions in the survey work in technology-based businesses around the world, mainly in North America, Europe and the Asia-Pacific region.
Tudor Aw, KPMGs head of technology in Europe, said that the results showing China was a fast developing rival to the US in technology were surprising given the countrys relatively poor showing in devising important technical innovations over the past 30 years.
I think what the survey shows is that the big advances in education in China, and the money being put into technology development, are likely to lead to breakthroughs in a way that many people might not expect, Mr Aw said.
He added that the speed of change in technology often was extremely fast as shown, for instance, by the fast rise to prominence in mobile telecoms by Nokia, together with the Finnish companys equally rapid descent.
Given the likely pace of change in the coming years in many areas of technology, it becomes plausible to think that China in spite of its lack of a record in the past few years in this field could be the country where the leading examples of innovation take place, Mr Aw said.
Among the factors that could hold back technology innovation were governments clamping down on the amount of personal information shared over the internet.
On the assumption that privacy fears were to lead to restrictions, then incentives to devise new ways to use the information would inevitably be reduced, according to people who participated in the survey.
China to rival US tech knowhow, say execs - FT.com
Slowly but surely we will get there.China will be the number 1 innovative country in the world in 3 years time.
China to Over Take Silicon Valley Claims Report
Almost half of all global executives polled believe that the technology innovation center of the world will move from Silicon Valley to another country in the next four years according to a survey published Wednesday.
KPMG’s global Tech Innovation Survey 2012 found 43 percent of respondents said Silicon Valley’s crown would be passed elsewhere by 2016. China was named as the country most likely to be the next innovation centre (45%), followed by India (21%) and Japan (9%) and Korea (9%).
Israel came in fifth while Europe barely featured.
The survey also found that China and the U.S. are the two countries most likely to come up with “disruptive technology breakthroughs” that will have a global impact in the next two to four years.
Despite the figures, Tudor Aw, Technology Sector Head for KPMG Europe, while recognizing the shortcomings in Europe was not overly gloomy.
“The U.K. in particular has always been one of the leaders in creativity, but it has been poor at is taking that creativity to a commercial model.”
Mr. Aw did admit that the lack of skills and the relative low numbers of engineers in Europe might be a problem, but the sort of companies that were creating disruption were much faster to build and less reliant on heavy engineering skills.
“The [low] number of hardware and software engineers will not be as big a barrier as it would be if we were trying to create the next Rolls Royce.
“But if you think of something like Facebook, companies like this can be built in 2-3 years.”
Mr. Aw was not surprised by the growth of China as a center of disruption. “You only have to look at the Japanese car industry. It started by disrupting the cost model, only then did it start to move up the value chain.”
Asked about the next technology breakthrough that will result in the greatest business transformation four years from now, 28% of respondents named mobile technologies, smartphones and tablets, 17% cloud computing and storage and 13% advanced IT and 3D technology.
The survey was conducted among 668 global technology leaders, with one-third from the U.S. and Canada, 14% from China, and 9% from Israel. The remaining half was from Asia and EMEA. The mix included technology startups (32%), mid-market enterprises (37%), large tech companies (23%), with the remainder from venture capital firms and angel investors.
The high-level survey drew a large percentage of responses from the C-suite, with CEOs alone comprising 20% of those polled. Entrepreneurs, M&A directors, corporate development and strategy execs also were represented.
China to Over Take Silicon Valley Claims Report - Tech Europe - WSJ
