 "CIO: Your industry is being disrupted")
In a recent survey by CIO UK Magazine for their 2015 CIO 100 report, 74 per cent of CIOs didn't think that their industry was facing the 'prospect of disruption'. New technology has had a democratising effect on ideas, funding and the creation of new products and services in every industry, whether it is financial services or automotive industry. CIOs have a unique opportunity and with the right insights can help their companies regain competitive advantage. Today we are seeing the emergence of nine multi trillion dollar mega trends but while this is the macro view what many business leaders don't see are the game changing emerging technologies that are changing our world at a faster rate now than at any point in our entire history.
It's all about change
The CIO Office sits at the intersection of technology and business. But if the majority of CIOs don't feel that their industry or business is facing the 'prospect of being disrupted' then it's unlikely that they're preparing an appropriate defensive and offensive strategy. If this is the case then by the time your business does begin to feel the implications of disruption, it's safe to say that it's going to take you too long to transform and respond by which time you will inevitably witness the erosion of your core revenues- a decline in share price, mechanical restructuring and layoffs. If you are the CEO then all of this is bad news but for the new breed of entrepreneurs, your inability to react quickly to changing market conditions or opportunities is a God send.
Whichever continent, whichever industry and whichever demographic or social group you look at, the signs of disruption are everywhere and it's accelerating at a frenetic pace driven by a new wave of global 21st century entrepreneurs who last year registered over 100 million new companies, a ten fold increase from 2012.
Today technology is becoming increasingly ubiquitous and as it does so, new social, mobile and cloud-based technology platforms are helping people around the world collaborate and communicate easier and faster than ever before, find funding, information and expertise faster than ever before and helping them create, build, distribute and sell new products and services faster than ever before. This democratisation of ideas, resources and channels is fuelling a new innovation arms race unlike any we have seen before.
The new democracy
This 'technocratic democracy' is helping people and communities disrupt your industry and your organisation faster than ever before because when you connect billions of people together in real time, the next great idea and the resources needed to design, build, promote and sell it, as well as the consumers needed to buy it are potentially just a click away.
The people have a voice. They have ideas. They have resources and they have funding. They have the power to create and hundreds of millions of them are doing that. They have the support of their governments and hundreds of billions of dollars of funding from investors around the world. They are disrupting everything and are using new tools and technologies to build agile businesses that have already generated trillions of dollars worth of new value. The next generation of business leaders aren't coming, they're already here. Airbnb, Alibaba, Box, Dropbox, Facebook, FireEye, Hailo, LinkedIn, Lyft, Palantir, Ratesetter, Service Now, SpaceX, Square, Tesla, Twitter, Uber, Whatsapp, Waze and Workday are just the beginning.
Six degrees of separation is now four
Globally, only 39 per cent of the world's population is connected - in Asia only 27 per cent people are connected and in Africa that figure falls to below 13 per cent. So whether your organisation likes it or not, the fact is that we'll see a billion more people coming online. The rate and breadth of peer to peer led industrial innovation and disruption is only going to increase .
It's all about change
The CIO Office sits at the intersection of technology and business. But if the majority of CIOs don't feel that their industry or business is facing the 'prospect of being disrupted' then it's unlikely that they're preparing an appropriate defensive and offensive strategy. If this is the case then by the time your business does begin to feel the implications of disruption, it's safe to say that it's going to take you too long to transform and respond by which time you will inevitably witness the erosion of your core revenues- a decline in share price, mechanical restructuring and layoffs. If you are the CEO then all of this is bad news but for the new breed of entrepreneurs, your inability to react quickly to changing market conditions or opportunities is a God send.
Whichever continent, whichever industry and whichever demographic or social group you look at, the signs of disruption are everywhere and it's accelerating at a frenetic pace driven by a new wave of global 21st century entrepreneurs who last year registered over 100 million new companies, a ten fold increase from 2012.
Today technology is becoming increasingly ubiquitous and as it does so, new social, mobile and cloud-based technology platforms are helping people around the world collaborate and communicate easier and faster than ever before, find funding, information and expertise faster than ever before and helping them create, build, distribute and sell new products and services faster than ever before. This democratisation of ideas, resources and channels is fuelling a new innovation arms race unlike any we have seen before.
The new democracy
This 'technocratic democracy' is helping people and communities disrupt your industry and your organisation faster than ever before because when you connect billions of people together in real time, the next great idea and the resources needed to design, build, promote and sell it, as well as the consumers needed to buy it are potentially just a click away.
The people have a voice. They have ideas. They have resources and they have funding. They have the power to create and hundreds of millions of them are doing that. They have the support of their governments and hundreds of billions of dollars of funding from investors around the world. They are disrupting everything and are using new tools and technologies to build agile businesses that have already generated trillions of dollars worth of new value. The next generation of business leaders aren't coming, they're already here. Airbnb, Alibaba, Box, Dropbox, Facebook, FireEye, Hailo, LinkedIn, Lyft, Palantir, Ratesetter, Service Now, SpaceX, Square, Tesla, Twitter, Uber, Whatsapp, Waze and Workday are just the beginning.
Six degrees of separation is now four
Globally, only 39 per cent of the world's population is connected - in Asia only 27 per cent people are connected and in Africa that figure falls to below 13 per cent. So whether your organisation likes it or not, the fact is that we'll see a billion more people coming online. The rate and breadth of peer to peer led industrial innovation and disruption is only going to increase .
The author is Matthew Griffin, CXO strategic advisor. Reprinted with permission
Link: https:// www.linkedin.com/pulse/cios-your-industry-being-disrupted-matthew-griffin?trk=prof-post
Link: https:// www.linkedin.com/pulse/cios-your-industry-being-disrupted-matthew-griffin?trk=prof-post