Disruption in the communications industry is relatively high, driven by intense capital spending – and yet, business leaders need to prepare for further disruption by building artificial intelligence (AI) systems powered by digital marketing and analytics.
Those are findings from just one industry in Accenture’s Disruptability Index report, which shows that rather than being an unpredictable event beyond business leaders’ control, disruption has a pattern that can be identified. New Zealand was one of 82 countries studied for the index, with companies that had annual revenues of least US$100 million across 20 industries examined.
According to Accenture digital director Ben Morgan, there are several important takeaways from the report. “It’s getting rid of this notion that disruption is random and out of our control.”
And that’s not all. “Embracing tech is no longer a ‘nice-to-have’ [thing]. It needs to be part of every organisation’s DNA. It’s a part of the world we live in.”
The report says that every industry is being disrupted (duh), but with different degrees of disruption (also duh). But according to Morgan the degree of disruption in a few industries – particularly healthcare and travel – might be surprising to some. Part of the reason has to do with the fact “siloed” industries are, essentially, “dead,” according to Morgan. “We’re seeing a real blurring of industry lines.”
Naturally, Morgan believes there are things entrepreneurs and organisations can do to embrace disruption. “Look to see where disruption is going on, then take a look holistically to rethink opportunities.” As an example, Morgan says if you work in the automotive industry, look at trends taking place in a particular part of that industry – such as tyre technology – and apply that to your business. “Technology is something everyone should be looking at.”
Morgan concludes that disruption is something that must be embraced – because, in fact, it’s been with us for a long, long time. “When we look back 200 years, disruption has always been there. It’s just the latest tagline.”
Read the full report here.
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