Commodity Technology Advisory LLC (ComTech Advisory), the leading analyst firm covering energy and commodity trading and risk management (E/CTRM) and related technologies, has released a 2021 update to its Disruptive Technologies report. Titled Disruptive Technologies: An Update, the report is now available for free download from the CTRMCenter. This research effort was sponsored by Kyos, Invensoft and Commodities People.
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This new report includes a recent survey of commodity market participants views of the challenges, trends and issues facing their firms and their technology providers and provides a comparison with the earlier 2018 results to help better identify market adoption trends and trajectories. Additionally, the report examines several use cases for, and providers of, these technologies as they relate to commodity trading activities. The technologies examined in this report include cloud/SaaS deployment, artificial intelligence & machine learning (AI/ML), Blockchain, virtual and augmented reality (VR & AR), data management, workflow/business process automation (BPA), microservices and opensource software.
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According to Patrick Reames, Managing Partner of Commodity Technology Advisory, “Broad adoption of these emerging and disruptive technologies has been somewhat slow in commodities when compared to other markets such as the financial or consumer-oriented markets. However, based on this research and an examination of market specific use cases and recently launched products, it’s clear that we are starting to see these technologies gaining a foothold in commodities.”
Of those technologies examined, the survey indicates that cloud and SaaS are gaining the most attention with 84% of respondents said their firms expected to invest in those technologies. AI and ML also proved to be of significant interest with 60% of the respondents noting similar investment plans. Perhaps surprisingly considering the broad market hype around blockchain in recent years, only 32% anticipated making any investment in the technology.
“Clearly, cloud and SaaS dominate investment plans according to our survey up by 10% on the 2018 survey,” said Dr. Gary. Vasey, Managing Partner. “There is also significant interest in technologies like AI and ML where there are rapidly increasing use cases proving the value of these technologies in commodities.”
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