Modern Product Development Leveraging Exponential Technologies to Drive Industry Leadership, Says Info-Tech Research Group
Info-Tech Research Group's latest blueprint offers actionable strategies for organizations to innovate and stay competitive in a rapidly evolving digital landscape. By embracing advanced technologies and innovative IT practices, organizations can transform their product development approaches and drive sustainable growth in the era of Exponential IT.
TORONTO, July 18, 2024 /PRNewswire/ - As organizations strive to stay ahead in the digital age, they face significant challenges in adopting advanced technologies such as artificial intelligence and machine learning. With rapidly evolving market dynamics, increased competition, and the need for continuous innovation, organizations must strategically transform their IT product practices. To address these challenges, Info-Tech Research Group has published its latest blueprint, Build Your Exponential IT Product Practice. This research provides a structured framework and actionable insights, equipping product teams with the tools necessary to navigate the complexities of modern and exponential technologies and remain competitive in a fast-paced market environment.
"Exponential IT has changed the way leaders discuss how their organizations should operate, the value they want to deliver, and the roles technologies play," says Andrew Kum-Seun, research director at Info-Tech Research Group. "Product leaders must now become organizational leaders who unlock the many business opportunities exponential technologies bring and manage the risks and costs that come with them. However, many product leaders are ill-equipped and too inexperienced to meet this expectation and gain value from the rapid and disruptive changes happening around them."
Info-Tech's research highlights a shift in product practices that embrace and support exponential technologies. This transition presents challenges and barriers for organizations, which often show little motivation or tolerance for changing existing IT operating models and working methods. Additionally, investments in legacy technologies hinder organizations from realizing the full benefits of Exponential IT. According to Info-Tech's Annual CIO Survey Report 2024, 88% of CIOs have at least begun exploring the possibilities of AI this year, underscoring the importance of leveraging exponential technologies for competitive product development in the coming years.
"Exponential IT requires product leaders to build and optimize their product practices and portfolios with the expectation that change is constant and disruptive," adds Kum-Seun. "They must adopt technology-agnostic delivery and management capabilities adaptable to evolving stakeholder desires and needs. This transformation journey begins with understanding the business problem your teams must solve, embracing user-centric and AI-first principles, and scaling solutions delivery and management foundations using Exponential IT capabilities."
The firm's blueprint further emphasizes the importance of setting realistic, achievable goals to drive business value and align with key business priorities. The research details the necessity for product leaders to keep their products and practices relevant while capitalizing on opportunities and minimizing threats posed by emerging technologies.
In its latest research, Info-Tech outlines three critical factors for organizational leaders looking to innovate with exponential technologies:
- Deliver Autonomously: AI and ML should become the standard, not the exception. IT should manage a portfolio delivered via embedded and ubiquitous AI/ML functionality, ensuring these technologies are seamlessly integrated into daily operations.
- Creators, not Coders: Organizations should deliver outcomes via natural language, embracing "platform as a product" and using natural language and low-code/no-code tools to enable AI/ML-driven capabilities and solutions. This approach allows for greater flexibility and innovation in product development.
- IT as Stakeholders, not Order Takers: Business relationship management (BRM) practices need to evolve to elevate IT's position at the table, making IT a true business partner. IT should take accountability for the technology that drives business capabilities, ensuring alignment with organizational goals and strategic priorities.
Info-Tech's comprehensive blueprint offers practical guidance for IT leaders to build and optimize their Exponential IT product practices. By addressing the inherent challenges and leveraging the transformative potential of advanced technologies, organizations can pave the way for innovation and sustained competitive advantage. Embracing Exponential IT principles enables product teams to deliver greater value, adapt to constant change, and drive business growth in a rapidly evolving market. This strategic approach will be key to staying ahead in the digital age and ensuring long-term success.
For exclusive and timely commentary from Andrew Kum-Seun, an expert in Agile development, DevOps, and lean development, and access to the complete Build Your Exponential IT Product Practice blueprint, please contact [email protected].
Info-Tech LIVE 2024
Registration is now open for Info-Tech Research Group's annual IT conference, Info-Tech LIVE 2024, taking place September 17 to 19, 2024, at the iconic Bellagio in Las Vegas. This premier event offers journalists, podcasters, and media influencers access to exclusive content, the latest IT research and trends, and the opportunity to interview industry experts, analysts, and speakers. To apply for media passes to attend the event or gain access to research and expert insights on trending topics, please contact [email protected].
About Info-Tech Research Group
Info-Tech Research Group is one of the world's leading research and advisory firms, proudly serving over 30,000 IT and HR professionals. The company produces unbiased, highly relevant research and provides advisory services to help leaders make strategic, timely, and well-informed decisions. For nearly 30 years, Info-Tech has partnered closely with teams to provide them with everything they need, from actionable tools to analyst guidance, ensuring they deliver measurable results for their organizations.
To learn more about Info-Tech's divisions, visit McLean & Company for HR research and advisory services and SoftwareReviews for software buying insights.
Media professionals can register for unrestricted access to research across IT, HR, and software and hundreds of industry analysts through the firm's Media Insiders program. To gain access, contact [email protected].
For information about Info-Tech Research Group or to access the latest research, visit infotech.com and connect via LinkedIn and X.
SOURCE Info-Tech Research Group
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