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Exponential price/performance improvements in technology are driving disruption because they enable new ways of adding value for customers and new business models.
For example, Uber is set to IPO in 2019 at a valuation $120 billion – which is more than the value of every taxicab company in North America added together and doubled!
Many taxi companies are spending $250,000 to develop their own app; however, they don’t understand that the rules of the game have changed. Similar to the Lord of the Rings, I want one ring to rule them all. I don’t want to download 19 Toronto taxi apps and key my data into each one on my smartphone with my fat thumbs.
To survive and thrive in this fast-changing business environment, companies must be customer focused, agile and continue to innovate. How can organizations achieve this? Their infrastructure must enable agility and flexibility to allow the organization to rapidly innovate and pivot.
Here are some staggering facts to consider:
These advancements are leading the way for dozens of technologies that are exponentially improving on a price performance basis. If you feel the rate of change is head spinning today, it’ll be even faster tomorrow:
In this episode, JIm joins host Adam Markel in conversation to break down the cycle of disruption and innovation in the speaking industry and why businesses must equip themselves for change.Continue reading