“How will digitization affect our company and is automatisation and disruption something I should worry about now?”

6th May 2017

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What is happening in regards of technological development and digitisation, how does it affect our company and is automatisation and disruption something I should worry about now? This is a question I’ve gotten several times.

At current adoption rates, tech giant Cisco expects that by the turn of the decade three out of each four companies will have become fully digitalised. A study from the John M. Olin School of Business at Washington University estimates that forty per cent of today’s Fortune 500 companies on the S&P 500 Index will no longer exist in 10 years. You guessed it: they will have been corporate victims to digital disrupters starting up or growing at full speed today.

Consider now the size of the economic impact of linking the physical and digital worlds through the IoT, and the periods over which such impact is expected:

“… the potential for the Internet of Things to drive

efficiencies, increase productivity and promote economic

growth is becoming reality.”

— Chris Buddin

Global Head of the Clean Technologies and

Renewables Group and the Internet of Things, Goldman Sachs

The sheer size of these macro figures makes it difficult to get our heads around how, if at all, this new wave of disruption would impact us at the micro level. Pundits will argue that there are significant challenges facing the IoT — security, privacy, investment required, regulation, technology standard, and so on. It would hardly come to your corporate doorstep any time soon.

What is undisputed is the following:

adversely — sooner than any of us would predict.

Global titans such as GE and Cisco themselves; Amazon, Apple, Google and Intel are a sample of a much larger group of companies already offering next generation

IoT-related services. These include machine-to-machine connectivity, industrial cloud solutions, software-as-a-service and big data analytics, to name but a few. The

number of supply chain companies already reaping benefits from their relationships with these pioneers is also significant.

What can you do to be as prepared as possible?

#GE #Cisco #Amazon #Apple #Google #Intel #IoT #MIoT #disruption #technology #change #changemanagement #efficiency #productivity #growth #economicgrowth #businessgrowth #McKinsey #Fortune500 #BusinessInsiderIntelligence

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