How to steer your business through continuous technology change?
“Ever since 1990, when the Internet became open to a wider community beyond academia and defense, there has been a constant feeling of business transformation.”
The early days of the internet convinced us all that retail (shops) would evaporate and in their place would come eCommerce, and to some extent that has come true and Amazon is sufficient testimony to that. The other constant transformation has been to broadband – shifting internet connections from 56 Kbps dial-up initially to early 500 Kbps broadband to the 1 Gbps services which are being talked about, and even rolled out today.
On the back of that came WiFi, which showed the inadequacies of even 3G cellular, which in turn has led to acceleration of both 4G LTE and 5G plans. From there smartphones were obvious, and Apps in turn replaced web-sites, where an App is simply a data serving mechanism like a website, but where some of the interactions can be supported by fetching data earlier onto your phone, to make things go faster. And these may be replaced yet again, by cloud services.
Each of these technologies have created waves, whereby two key things happened – a service which came on the internet partially replaced a service which was there prior to the internet – conspicuously Retailing, News, Music, TV and gaming – where in the end the traditional business has either survived or at least partially survived, but separately, new internet revenue models have been both possible and have to some extent, supplanted traditional services and become in some cases, better used.