7 Technologies Businesses Want Most (& Countries Investing More for Them)

With an estimated 70% of businesses already having a digital transformation strategy, businesses are investing more in some coveted digital tech than others.

businessman-working-tablet-coveted-digital-tech

Digital technologies are an essential part of owning a business in the 21st century. In fact, an estimated 70% of businesses already have a digital transformation strategy.

Whether it’s investing in a quantum computer, upgrading to 5G, or using artificial intelligence to ease the workload, businesses have different priorities for investing in the best technologies for themselves.

Keen to find out which digital technologies business owners are most interested in and which countries are investing the most in new tech, WalkMe.com surveyed 1,303 business owners and analyzed country spending habits to find out where money is being invested and by whom, as well as analyzing data from the 2021-22 Digital Future Index.

Digital Tech Business Owners Are Most Interested In Investing

The study revealed that business people would be most interested to invest in 5G as 32.9% of respondents chose the new high-speed connectivity tech as their primary area for investment. This comes as no surprise because 5G is now available in 112 countries around the world, and 5G availability now covers 49.2% of the USA.

Ranking second is Internet of Things (IoT) technology, with 21.9% of participants choosing this as their primary investment area. IoT tech are any physical devices which can be connected to the internet – from aeroplanes to computers, lightbulbs, and children’s toys.

Artificial Intelligence ranks third with 14.5% of people interested in investing. The AI sector is quickly growing in the form of self-driving cars, smart vacuums, voice-controlled assistants (eg. Alexa and Google Home), and much more.

Top seven most coveted digital technologies by businesses:

Digital Technologies

Percentage of people who would invest

#1

5G

32.9%

#2

Internet of Things (IoT)

21.9%

#3

Artificial Intelligence (AI)

14.5%

#4

Biometrics

12.7%

#5

Quantum computing

7.9%

#6

Immersive Tech

6.6%

#7

Distributed Ledger Technology (Blockchain)

3.4%

Countries Investing Most Money in the Digital Technologies

The researchers also analyzed recent data from the Digital Future Index, which ranked countries for their spending on technologies including Artificial Intelligence, Immersive Technologies, Blockchain, and Internet of Things.

The United States ranks as the country investing most in digital technologies, investing the most money in every category worldwide. The USA has invested most in AI (Artificial Intelligence), and the country's investments in AI have surpassed £71 billion in total to date.

In second place is China, who have also invested the majority of their money into AI, with investments in this area of more than £34 billion.

The United Kingdom ranks third in the study, and first in Europe. The UK is estimated to have spent a total of £10.4 billion on digital technologies, also with the most money invested into AI (£1.3 billion).

Israel ranks fourth for AI and Immersive Tech (ie. virtual reality) globally, and fifth for IoT tech (technology that connects to the internet). Switzerland ranks fourth for DLT (ie. Blockchain) and fifth for Immersive Tech.

The top five countries investinng the most money in new technology are as follows: