Description

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The rapid convergence of computing and telecommunications technologies into products, better known as the Internet of Things, coupled with strong human behavioral change has created the emergence of a technological discontinuity that is disrupting all industries as we know them. Information once "trapped" in products is being unleashed, creating a flow of Product in Use Data that is becoming the basis of new services, new business models, and new ecosystems leading to the substitution of traditional product and service companies and the total disruption of industries. During this merging of industrial and digital economics, the internal capabilities that organizations have leveraged for years will become insufficient for future competition. The businesses of those leaders who fail to transform their firms by acquiring the necessary new capabilities will not survive. Despite the impending disruption, there are defined strategies that greatly enhance an existing firm.