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Digital Technology - The Fourth Industrial Revolution Is Here
Digital disruption is at the heart of all the conversations I have with CEOs today. And this is not surprising, as it presents the most significant threats and opportunities any of us have faced in business. When assessing the implications, consider the fact that that new digital business models are the principal reason why just over half of the names of companies on the Fortune 500 have disappeared since the year 2000. And yet, we are only at the beginning of what the World Economic Forum calls the “Fourth Industrial Revolution,” characterized not only by mass adoption of digital technologies but by innovations in everything from energy to biosciences. While the digital transformation of industries will be profound, we must keep in mind that it will have wider economic and social impact, too, as with previous revolutions driven by steam and coal, electricity and computers. Waves of innovation We are seeing the Fourth Industrial Revolution emerge in a series o...
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