Drivers of transformation
Technology
Political, economic, and environmental factors
Social factors
Common transformational classifications include:
- “The 4th Industrial Revolution”, which captures the driving changes resultant from cyber-physical systems (CPS) leverage melding of physical, digital, and biological worlds.
- “The Internet of Value”, portraying the expanded utilization of the internet to include payments.
- “Industry 4.0”, also
Common transformational classifications include:
- “The 4th Industrial Revolution”, which captures the driving changes resultant from cyber-physical systems (CPS) leverage melding of physical, digital, and biological worlds.
- “The Internet of Value”, portraying the expanded utilization of the internet to include payments.
- “Industry 4.0”, also called “Smart Factory”, which recognizes the ability for processes and machines to adapt in real time, in a self-directed fashion.
- “Fintech”, for “Financial Technology”, which broadly references the application of advanced technology in the finance industry, and the disruptive business models these have enabled.
Social factors
Political, economic, and environmental factors
Social factors
Contributory social factors include:
- Social media – contributing to the education and technical proficiency of the population, and the forum to publish messages and forum coalitions of like-minded
- The Sharing Economy and collaboration, where efficiency of underutilized assets is improved and modular contributions to production are assembled
Contributory social factors include:
- Social media – contributing to the education and technical proficiency of the population, and the forum to publish messages and forum coalitions of like-minded
- The Sharing Economy and collaboration, where efficiency of underutilized assets is improved and modular contributions to production are assembled in value chains
- Globalization – with developing countries increasingly participating in the global economy
- Use of “bots” and “Internet of Things” – where artificial intelligence is used to create participatory agents
Political, economic, and environmental factors
Political, economic, and environmental factors
Political, economic, and environmental factors
Life will never be the same after the pandemic.
Other factors fueling disruptive transformation include:
- Broad international disillusionment with governments
- Increasing hesitation to accept the American dollar as an international reserve currency
- Protests of the disproportionate share of wealth and power held by the richest 1% of the population, mobilized by the Occupy Movement
Political, Economic, and Environmental Influences
The Pandemic
The disruptive influence of the pandemic is unquestionable. The question is, what will emerge as the "new normal"?
Out of necessity, the pandemic has forced us to adopt digital business models. What will be the long-lasting impact of these changes?
What are the dangers outside?
Currently, given the stay-at-home directives, we are looking out at the world. We are trying to discern the safety of the environment, and when we can re-emerge.
Emerging into the "new normal"
Out of necessity, we have adopted digital business models to operate under our "social distancing" directive.
Which of these changes will become inherent in our business models going forward?
"Never waste a good crisis"
Massive collaboration, spending, and change management is required to move into the digital era.
The Great Financial Crisis of 2008 has driven the first phase of this re-invention, with the focus on data collection allowing for the massive advances in analytics and adoption of artificial intelligence in mainstream use cases.
The pandemic will provide the stimulus required to drive the massive adoption of digital business models.