Customer, not technology, remains king

IN today's digital age, technology projects have become an expected staple in business growth plans. Companies that have announced their intention to invest in new digital capabilities are usually rewarded by the market with increased investor interests and possibly higher valuations. For example, in 2017, On-line plc's stock price jumped as much as 394 per cent in London within a day after announcing plans to add "blockchain" to its name.

While achieving return-on-investments on new technologies remains every business' challenge, the growth in interest and adoption is real. One technology that has picked up strong interest is artificial intelligence (AI), given its widespread potential applicability across any industry or company.

According to Gartner research, the potential market value for AI projects in 2018 alone is estimated at US$1.8 trillion. Contrary to the commonly held assumption that only large companies can afford new technologies, middle-market companies - ie those earning US$1-3 billion - are stepping up their investments in this area too.