A tech expert has warned businesses not to sit idle as technology rapidly expands around them.

Those who do risk being "relegated to the scrap heap", says Paul Spain, a Tech Futurist and commentator.

"There's a tendency for many to sit and talk about the apparently small innovations that they've seen," he said ahead of his PwC Herald Talk this Friday.

"But realistically, tech can move so fast that before you know it, that small thing has become the next big thing and competitors are swiftly relegated to the scrap heap."

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Spain uses Netflix as an example and how it has basically made video stores extinct.

"Just look at Netflix. Sure, it was a bit niche at first and we all looked on with interest as its platform developed. And then boom, video shops were dropping like flies. Once they were in every neighbourhood, now your friendly local video store is just about extinct.

"If a business owner notices a tech or digital innovation relevant to their enterprise, sector or industry - be bold and move fast to respond."

Spain said Rocket Lab in particular was a great example, and one he was watching closely, of a Kiwi company breaking the technology boundaries.

"It's just nuts what they're [Rocket Lab] achieving.

"And when you look at the competition around the world, and there are dozens if not hundreds of companies that are trying to be in a similar space to them, yet Peter Beck and the Rocket Lab team are really overachieving and I think that's incredibly exciting.

"When you look behind the scenes, there's so much technology that's enabling what they're doing. If you were to jump back 20 or 30 years what Rocket Lab are doing wouldn't've been possible but today with the current technologies; 3D printing, low-cost chips, that enables an incredible business."

Spain, who founded IT services and management company Gorilla Technology, will share his insights into how businesses can best position themselves to thrive in a "tech revolution" at PwC Herald Talk's The Tech Revolution this Friday.

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Find out more details, including how to book tickets here.

Spain will be joined by a panel of experts including Vodafone's Lindsay Zwart, Dexibit's Angie Judge, KotahiNet's Vikram Kumar and Callaghan Innovation's Jonathan Miller.