China, US on Par as Future Tech Innovation Leader

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE


Technology executives worldwide believe that China and the US will be at the forefront, with Cloud enabling both the next indispensable consumer technology and business transformation for enterprises. Mobile technologies will continue to build on Cloud, providing the tech breakthrough that will transform businesses, according to the Global Technology Innovation survey by KPMG LLP (US). 
Gary Matuszak, Partner, Global Chair & US leader, KPMG's Technology, Media and Telecommunications practice, said, "The pace of technology innovations today is happening at an unparalleled speed and China's projected rapid rise to prominence as a technology leader would be another example of this. China's anticipated parity with the US tech sector shows the significant challenge facing the US to retain its position as an innovation leader. Other countries will continue taking steps to boost technology innovation and to attract tech entrepreneurs."
Egidio Zarrella, a Partner with KPMG in China, said, "These survey findings also demonstrate that China's innovation investment has fostered an environment for the development of disruptive technologies that is growing by leaps and bounds. The Chinese Government is encouraging significant investment in three key areas - (1) shared services and outsourcing, (2) payments and cloud computing. The 12th Five-Year Plan is also driving innovation in these critical areas, in order to create a nationwide virtual environment. It is clear that technology leaders in countries where technology innovation is thriving believe that the Cloud represents a technology tidal shift. They are placing a huge bet on Cloud, as it has multiple capabilities and benefits for providers and users such as generating revenue, improving operational efficiency, reducing costs and time-to-market, and enabling other disruptive technologies such as mobile and social applications. The significant Cloud investment that is under way is likely to spur technologies that drive breakthroughs in business transformation."


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