Digital Strat­egy

The Economic Times - - The Edit Page -

This hasn’t hap­pened overnight. It started 40 years ago with what we now com­monly known as Moore’s Law. One thing about tech­nol­ogy is that the hu­man mind thinks in a lin­ear fash­ion but tech­nol­ogy ad­vance­ment is ac­tu­ally ex­po­nen­tial. The rea­son is tied to what Gor­don Moore said 40 years ago. A con­gru­ence of many in­de­pen­dent tech­nolo­gies that were on their own ex­po­nen­tial paths — whether it’s semi­con­duc­tors, cell­phones or the abil­ity to write soft­ware — came to­gether when the iPhone was ‘dis­cov­ered.’ Look at what is hap­pen­ing in ge­net­ics and genome map­ping. Look at what is hap­pen­ing in so­lar power and the ex­po­nen­tial­ity that is brought into these op­tions. The other thing about this ex­po­nen­tial curve is that the ca­pa­bil­i­ties rise ex­po­nen­tially and the price de­clines ex­po­nen­tially, be­cause they go hand in hand. That has led to the con­gru­ence of all of these tech­nolo­gies around robotics, ge­net­ics, the abil­ity of chips and mi­cro­pro­ces­sors and nan­otech­nol­ogy.

Now we are on the cusp of what I call the next digital revo­lu­tion. Peo­ple are call­ing it In­dus­trial Revo­lu­tion 4.0. The re­al­ity of this is that ev­ery busi­ness to­day is a digital busi­ness; some just don’t know it yet. What used to be a 20-year view of strat­egy now needs to be ag­ile, just like the whole world around you, es­pe­cially with tech­nol­ogy. Tech­nol­ogy is caus­ing the timescale to shrink even faster. Glob­al­i­sa­tion has caused it to shrink faster as well.

From: Ev­ery Busi­ness is a Digital Busi­ness

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