siliconindia | | January 20198VUCA world, Digital disruption and business transformations are all effects of the pace of change of technology which is driving organizations crazy and surprising people on professional, as well as personal front. How does one update and upgrade oneself to remain the in the main stream without getting disrupted.Digital disruption, is the change that occurs when new digital technologies and business models affect the value proposition of existing goods and services. Customer tastes are changing, and technologies are capable of keeping customers hooked on to the services. In this process of change, the products are getting converted to services. In fact, some products have been sold as product but were fundamentally a service and were sold as products because it was difficult to measure the consumption. Digital technologies can now convert these products to services (e.g., filtered water, insurance as per use, mobility when needed).The business models are changing, as well as new models are evolving, and so the businesses need to trans-form. Products getting obsolete with changing times are nothing new. In just 13 years, 5th Avenue in New York saw the horse carts replaced by cars. Times of London in 1884, due to in-creasing number of horse carts, pre-dicted that, "In 50 years every street in London will be buried under nine feet of manure" ­ however, that did not happen due to the shift to cars.Similarly, "Television won't be able to hold on to any market it captures after the first six months. People will soon get tired of staring at a plywood box every night," quoted by Darryl Zanuck, executive at 20th century Fox, 1946 is completely void today with not just TV but the smartphones in everyone's palm and in front of eyes.Predictions have gone wrong due to pace of technology change. Tech adoption S-Curve showing a steep ascent and over the years has proved that the adoption has been quicker. The world of digital is nothing but convergence of technologies and it is not necessary that only one will play the role of driving the change. Changes are happening faster than our thoughts, so it is not only that we need to think faster but also smarter.· Bots or Robot Citizens who will be the colleagues in tomorrow's office, will redefine jobs or perhaps replace the need to go to a lawyer for a run of the mill legal advice.· Blockchain will disintermediate high quality data, lower the transaction costs along with transparency & immutability, bring in security & privacy; to the current uncertain regulatory issues. · IoT will scale to billions of devices connected on the internet, broadcasting huge amount of data and cloud will support the scale with unlimited possibilities.At the same time, we need to take into account the Cyber Threats, Secu-rity risks, Governance & Compliance. All these have enough threats to shut ESCAPE THE TRAP OF INCREMENTAL THINKINGBy B Ghosh, CIO - Enterprise, Mfg Systems & Corporate Functions, Mahindra & MahindraHeadquartered in Mumbai, Mahindra & Mahindra is one of India's multinational car manufacturing corporation which operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, information technology, financial services and vacation ownership. IN MY OPINION
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