Over the last decade, the digital economy has been driven and dominated by technology startups. The next decade will see the awakening of an entrepreneurial spirit among incumbent industry leaders as they strive to regain competitive advantage, disrupt their own markets or invent new ones. They will need to change the way they innovate, shifting past traditional small-scale and self-serving collaboration with innovators to harness the power of digital collaboration across a broader ecosystem.
Accenture’s Digital Collaboration Index shows that digital collaboration can deliver an uplift of $1.5 trillion to global economic outputs. In South Africa, it could help raise GDP by almost $12 billion, elevating current GDP by 3.1 percent. Open innovation, which is characterised by partnerships among a range of players in a global ecosystem, lays the groundwork for increased digital collaboration. However, a survey of G20 countries shows that South Africa has just begun to take the first steps on the road to open innovation and collaboration.