How will technology like 3D Printing, “Big Data” and other internet phenomenon affect the way companies innovate?
My friend Robert Tucker and I go way back, and I am sharing a recent article he penned about future innovation trends. Do any of these excite you? Concern you?
In 10 years, over 40 percent of the Fortune 500 will no longer be around. By 2020, more than three fourths of the S&P 500 will be organizations that we have not heard of yet. Predictions like these are common. What if they turn out to be correct?
That’s the question I’ve been pondering since speaking at IBM’s Big Data Conference in Toronto last week. IBM is making a big push into analytics, and the field is taking off. Since their near-death experience in the ‘90s, when the market shifted away from mainframes and the company was caught flat-footed, IBM has done an exemplary job of embracing marketplace shifts. They’ve also gotten better at shedding. They sold off parts of their business (such as their PC division, and most recently their server division) to focus on higher value work such as Big Data. Clearly, this shedding and embracing skill is one that all firms will need to master in order to survive in the Age of Disruption.
How to do this is the question. Start by tracking the trends, especially technological, which are the fastest moving. Below are five that my team and I have been monitoring of late. Whether you’re with a small or mid-sized business, or a huge multinational, as you read thru these five tech megatrends, ask yourself: what might we need to shed (or stop doing) to take advantage of this development? And what do we need to embrace (or start doing) to capitalize off this trend?