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The imperative has never been more clear for individuals or for businesses that are behind the curve, especially when it comes to all things digital.
Many businesses and industries will not survive the coming decade let alone next few years and the coronavirus pandemic has vastly accelerated trends in digital transformation and hyperautomation that will have dramatic consequences for the way we work, the way we live and the way we do business and commerce.
Think about the impact that smartphones, cloud computing, big data and social media platforms have had on our economy, on our people, and our habits from shopping to social. They have completely transformed our society, especially this last decade. Think about what Netflix did to Blockbuster, what Amazon did to Retail, what Apple did to Nokia, etc. Digital streaming platforms, E-commerce on demand and Smartphones have replaced and made redundant the need for physical CDs, the need to travel to many retail stores in person, and flipphones. The rate at which old industries are being disrupted and new ones are being created is vastly accelerating, and the rate of that acceleration is only accelerating, especially during the coronavirus pandemic.
What most people, small businesses, entrepreneurs need to do in order to survive is go digital or go extinct and take these trends, and digital tools very seriously as they will help them survive, stay lean and agile, and help them have scalable reach. The internet allows anyone from a business to an individual entrepreneur to reach any customer from anywhere in the world directly, remotely and asynchronously. This is why the internet changed everything. By having more information at our fingertips as people than ever before it has given unprecedented ease and comfort to consumers, however it has put the paradoxical amount of pressure on businesses as they have to give better customer service, faster, cheaper and better or risk going bankrupt, as other competitors can easily leapfrog them in today’s age.