The next wave of business transformation will shift from building isolated digital capabilities to creating the foundations of a new reality—a shared reality that seamlessly combines our physical lives of atoms and our digital ones of bits. Fusing digital and physical is not only leading to innovation; it’s the force behind a new era of generative AI that is just beginning.

96% of global executives agree that the convergence will transform all aspects of business over the next decade. This year’s Technology Vision explores four trends that are shaping the future:

• Digital identity – new forms of digital ID are breaking down the walls between people and enterprises.
• Your data, my data, our data – leaders have a chance to build trust with partners and customers by becoming more transparent with data.
• Generalizing AI – a new category of AI—including generative AI, large language models and foundation models—is becoming table stakes for any business operating in tomorrow’s market.
• Our forever frontier – the feedback loop between science and technology is getting faster, in ways that are beginning to unlock solutions to the world’s big challenges.

Explore how these trends are changing the game.

Today’s executives are navigating a complex and dynamic business environment few have ever seen. Most are rising to the occasion, transforming their companies more and faster than ever before. Some are quietly and systematically changing the game and their industries, driving a new imperative. These are the “Reinventors”, embracing what we call “Total Enterprise Reinvention“ - a deliberate strategy centered around a strong digital core, that helps drive growth and optimize operations.

By embracing Total Enterprise Reinvention, companies will establish a new performance frontier, outperforming peers in financial, technology, and 360º value dimensions - delivering superior outcomes by thinking more deeply about how their reinvention will enable them to engage with customers and employees and create long-term, sustainable value.

Our research indicates that Reinventors are generating 10% higher incremental revenue growth, 13% higher cost reduction, and 17% higher balance-sheet improvements. Reinventors also score 11% higher on innovation, 32% better on sustainability, and 31% better on experience for customers, suppliers, and employees.

We believe all companies will need to adopt Total Enterprise Reinvention as a strategy in the coming years. Our report explores the six characteristics of reinvention and how companies can chart a path to become a Reinventor.

As CEOs look for new paths to growth, our research shows companies can gain an 11% premium on productivity—the ultimate driver of revenue and profitability—by unlocking the powerful combination of data, tech and people. If they don’t put people at the center of their business, that premium plummets to 4%.

We've identified how skilled and connected CHROs are accelerating continuous reinvention by finding new streams of value in every corner of the organization. These CHROs, who are central to creating the digital enterprise, are bringing business growth and exceptional human experiences into higher resolution.

By tapping into these “High-Res” CHRO’s uniquely broad scope of skills and influence, companies are discovering more effective ways to maximize people-related data, innovate with technology and embrace managed services—making an impact across the business and across the enterprise.