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