Approximately one in three companies (32 per cent) believe business use of artificial intelligence will be commonplace within the next decade, new research from TomTom Telematics has revealed.

The study found that 22 per cent believe virtual reality will be in common usage, while around one in five anticipate the prevalence of in-vehicle working due to the development of autonomous vehicles.

However, almost a third (32 per cent) fear they may struggle to keep pace with the rate of technological change. Furthermore, one in two (49 per cent) believe those that fail to embrace digitalised processes and the Internet of Things are at greater risk of going out of business.

“Complacency can sound the death knell for businesses,” said Beverley Wise, director UK & Ireland at TomTom Telematics.

“Companies should be mindful of the pace of change and keep a close eye on the solutions and processes that will help ensure a competitive future – from smart mobility and connected tech to advanced manufacturing and design systems. Many of today’s new emerging technologies will disrupt and revolutionise commerce, and in the process become the standard for tomorrow.”

Almost half of companies (46 per cent) believe remote working has, or will become, the norm within the next 10 years. Remote working is currently proving more prevalent among larger companies (58 per cent) than their SMEs counterparts (37 per cent).

“The onus is on businesses, both large and small, to adapt to this new era of hypermobility and connected working that is being ushered in by advancements in areas ranging from telematics and the connected car to iPaaS and blockchain solutions,” added Wise.

“Such connected technologies and unified communication systems are unshackling workers from traditional working patterns – an empowering development that is set to significantly impact productivity and business efficiency.”