Hyperconnectivity: Everyone has access to everything

According to “Digital Disruption: How digital technology is transforming our world” (SAP, 2016). Hyperconnectivity describes the rapid growth of interconnectedness between people, objects, and technology. People have access to more data and information than ever before, and they have the ability to develop and maintain more social and business connections across the globe than at any other time in history. Hyperconnectivity has come about thanks to three phases of technological advancement:

1. The Internet enables all computers to connect on a single platform. Without the Internet, we wouldn’t be digitally connected.
2. Mobile Technology continues to grow exponentially, which accelerates hyperconnectivity worldwide.
3. The Internet of Things is the next wave of advancement, and will take interconnectedness to an unprecedented level. Within the next three years, the data created by IoT devices will reach 403 trillion gigabytes annually.

With mobile technology at an all-time high and the Internet of Things on the upsurge, the economic impact of hyperconnectivity on gross domestic product (GDP) is rising. A recent study using data from the World Economic Forum and other sources concluded that in the G20 countries, the GDP related to the Internet or digital activity is worth approximately $4.2 trillion U.S., roughly 3.5 times more than what the oil and gas industry generates. Growth is at about 8% in developed countries; growth in developing countries is escalating even faster, at roughly 18%.

For business, hyperconnectivity means quicker, easier global connections and innovation throughout the entire business ecosystem in today’s networked economy. In a global survey of 561 executives by The Economist Intelligence Unit the data revealed:

• 69% of business leaders believe their companies are adapting well to hyperconnectivity
• 47% say business processes have accelerated as a result
• 45% say collaboration, both within and between divisions, has improved because of hyperconnectivity
• Only 33% say it presents more threats than opportunities

In addition, (Capgemini, 2015) finds that 64% of executives say Big Data is changing traditional business boundaries and enabling nontraditional providers to move into their industry. Over 50% expect to face increased competition from start-ups enabled by data and 24% of companies report disruption from new competitors moving into their industry 

More than a technological trend, hyperconnectivity is a cultural condition to which businesses must adapt. Today’s businesses operate in a digital world – one that’s faster and more volatile than ever before. Those companies that are willing to radically transform and disrupt their memory computing and digital accelerators like social, mobile analytics, and cloud computing, can create faster, smarter, more agile, and better connected enterprises. Companies that are quick to adopt digital technology and become disruptors in their industry are reaping rewards such as:

• Quicker time to market
• Increased customer satisfaction
• Competitive advantage

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