Automation, robots, and algorithms will drive the next stage of digital disruption

Abstract

We are living in an exciting time of rapid change and massive disruption to many industries. Exponential change in technology is bringing fantastic opportunities to entrepreneurs and leaders who can take advantage of it. In addition, multiple new technologies in multiple industries are accelerating exponentially in parallel allowing new business models to emerge. These new technologies and business models are reshaping existing industries and creating whole new industries in increasingly short periods of time. Businesses will need to adopt a culture of constant innovation to maintain and win market share. This paper will examine how this digital transformation will be driven by various types of automation, robots, algorithms, and artifi cial intelligence. We will learn from examples and applications of these technologies each of which has the power to disrupt not only the industry where it appears but also disrupts adjacent businesses and industries. Leaders will need to consider how these technologies will affect their business, and most importantly, their customers. Such massive change not only affects commerce and business but has implications for other systems in society as well. For example, what jobs will be replaced by automation and what will happen to the current workforce? Regulatory and many other policy issues will also need to be considered. This new stage of automation-driven digital disruption will affect some industries sooner and more deeply than others, but no business of any size or industry will be left untouched. Those who understand the technologies and the changes will be able to embrace them to set a course for their businesses to thrive.