IoT, Technology and Digitization

Digitization: How to know whether an industry is being disrupted


In the previous  article in this short series we noted that in a study by the Global Center for Digital Business Transformation (GCDBT –  a Cisco-IMD Lausanne cooperation), respondents expected that on average 40% of today’s top 10 incumbents in any industry would be displaced within five years and the majority believed that the risk to be put out of business altogether had substantially increased. In spite of this 45% said digitization is not a board level concern and only 25% thought their organization was actively responding. A main reason is uncertainty about sustainability of the business model, how to respond and how to assess associated risks, costs and benefits. According to the results of the study:

This lack of attention in the executive ranks is matched by inadequate strategies for coping with digital disruption. Forty-three percent of companies either do not acknowledge the risk of digital disruption, or have not…

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