Tech industry leaders predict Silicon Valley’s dominance to decline with the rise of cities such as New York and Beijing
The exterior of United Technologies Corp.' digital accelerator in the Brooklyn neighborhood of Dumbo. Photo: UNITED TECHNOLOGIES 5 Comments By Angus Loten March 5, 2019 8:04 p.m. ET Amazon.com Inc. may have dropped plans to build a campus in New York, but many technology industry leaders say the city is on track to become a go-to innovation source for businesses world-wide in the next few years, according to a study by KPMG LLP.
“Geography is less important in an always-on, constantly connected world,” Jack Clare, chief information and strategy officer at Canton, Mass.-based Dunkin’ Brands Group Inc., told CIO Journal. “For most digital and technology roles, our teams could be based on the moon and be just as effective,” Mr. Clare said.
Nearly 60% of survey respondents said it is “likely or very likely” that Silicon Valley will be displaced as a global technology hub by 2023. Tech leaders in KPMG’s survey said their top pick for the next leading source of technology innovation was New York—up from No. 3 last year—followed by Beijing, Tokyo and London. Other U.S. cities that ranked in the top 10 were Boston and Austin, Texas. Washington, D.C., placed 13th.
Vince Campisi, chief digital officer at industrial conglomerate United Technologies Corp. , said access to diverse talent and proximity to customers were crucial factors in setting up its digital technology hub. A separate survey earlier this year by staffing firm Robert Half International Inc. found more than 80% of some 2,800 tech-hiring decision makers at U.S. companies said finding talent was a challenge.
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