Disruption Trends

“The only constant is change”

                We are going through an age of unprecedented changes. Changes and disruption has always been at the forefront of human history, but the pace of change and disruption has been accelerating over the past few decades. This is mostly driven by the pervasive digital age which has impacted all aspects of our lives.

                The pace of disruption varies from industry to Industry as different forces and maturity level across industry varies. However, disruptions do not happen overnight. They have been in the making and ignored until the disruptors become the driving force themselves. In IT these have slowly moved from IBM (Mainframe), DEC (Minis), Microsoft (PC), Intel (PC) to Apple, Google, Facebook, Amazons of the internet age. The disruption has not been limited to IT industry it has permeated through to all industries – PayPal, Uber, Netflix, skype, WhatsApp…..the list continues.

The disruption across industries has not been uniform.

(Source: LEF)

Few observations:

•          Banking, Healthcare and Manufacturing are ripe for disruption and are currently facing an accelerating winds of change. Banking is going through a fierce battle between traditional incumbents and new age financial technology companies across –payments, currency, fund transfers, lending, origination and documentations. 3D printing, robotics and smart products are disrupting manufacturing.     

•      In Healthcare, intelligent at-home systems, retail and self-administered healthcare services are challenging the traditional healthcare services.  

•      Insurance has been a laggard but since these are annual or long term business events maybe they do not require such frequent changes.

In conclusion, no industry has undergone a complete disruption yet and we still have traditional business in all sector. But for how long is the question.