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.
“… 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.
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.
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