How to tackle disruptive technologies as we approach the 20’s
Software is eating the world” (M. Andreessen) and “AI is the new electricity” (A. Ng) are two phrases that indicate the seismic impact technology is having on traditional business models. Blockchain, in particular has created a gateway to digital anarchy. It’s a catalyst that creates a new and a different world. It represents a technological breakthrough that can sweep into obsolescence just about every existing business model.
How are you prepared for this?
Small, entrepreneurial companies don’t own disruption. A company of any size can disrupt.
Prepare to simultaneously defend your company’s position and exploit new markets created by new technologies and business models.
The digital revolution of the last 20 years has changed us, as consumers and employees. It has also created new markets and has altered the way organisations compete. As a market-facing executive responsible for your company’s strategy, how will you respond? And how will you capitalise on the opportunities created by such changes?
Understanding the potential impact of emerging technologies is a complex exercise. Disruptive technologies often stem from scientific disciplines different to those that are common currency in the sector. Moreover, market disruption may result from a convergence of several distinct technologies, each with different levels of maturity and lead times.
In addition, even when organisations have a reasonable grasp of the nature of potentially disruptive technologies, they can struggle to link the impact to their future business. Sometimes, the inability to model potential impact is caused by a lack of a clear, strategic view of how industry drivers will shape market needs. Sometimes it is caused by a difficulty in projecting how technologies will combine to meet future targets for products and services. Collectively, these issues can challenge many businesses as they seek to manage their technology base strategically.
So, how can organisations develop a consistent and coherent view of how drivers will shape their markets and how disruptive technologies can contribute to their business in future? DVC approaches this question for clients through a combination of scenario planning. Using our L.O.A.F process, we identify the key drivers and their implications on the relevant markets. Then, we create Technology Roadmaps to link together the technologies that can address new opportunities that emerge as new market needs arise.
Once this has been done our consultants help implement these technologies across the organisation we are consulting for.
Quentin Anderson is Executive Chairman of the Transformative Consultant DVC Consultants.
Thought Leadership- Cogitare
Cogitare-The Latin for “To Think, ” is the collective name for DVC Consultants thoughts, insights and perspectives on a broad and eclectic number of subjects. From Brexit to Global Poverty, Islamic Banking to Subsistence Agriculture, Disruptive Technologies to The World Bank. It reflects the wide range of sectors and issues we consult on. We hope you enjoy reading them.