A new report from McKinsey has put a spotlight on what trends are “reshaping the future of IT and business”.

The report explains that businesses should make “four fundamental shifts” in order to keep up with technological transformations across different industries.

McKinsey says that specific tech trends are creating big changes in the digital world, with shifts in computing power, bandwidth, as well as analytics allowing new businesses and business innovations to exist.

Cloud and 5G were two of the trends that were highlighted in the report for increasing computer power and network speeds, leading to more digital innovation.

The aforementioned four trends that are shaping the future of internet technology, according to McKinsey, are innovation at the edge, a perpetual-learning culture, IT as a service, as well as expanded trust boundaries.

Innovation at the edge refers to the many inventions, from 5G to artificial intelligence, that “promise access to virtually unlimited compute power and massive data sets, as well as a huge leap in bandwidth at low cost, making it cheaper and easier to test, launch, and scale innovations quickly,” as put in the report.

Advances in artificial intelligence, as well as robotics and machine learning make up the perpetual-learning culture trend, which McKinsey says will lead to tech literacy being core to every role within IT.

By offering valuable code and software, it is thought that IT will become a chief driver of product innovation, an element of the IT as a service trend.

The expanded trust boundaries trend refers to how trust could go beyond privacy and security, and could comprise more stakeholder concerns, making it something of an enterprise-wide responsibility.

“It is inevitable that the pace of technological change will continue to accelerate,” the report states.

“The successful technology leader of the future will not simply need to adopt new technologies but to build capabilities to absorb continuous change and make it a source of competitive advantage.”