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The ripping point part 1: Where entire industries meet their digital demise

Marie Johnson | July 14, 2016
And why “customer-centric” is a silly strategy

The ripping points are being accelerated by the inescapable convergence of the increasing availability and reducing costs of enabling technologies.

These include big data, cloud, the Internet of Things, in-memory computing, cognitive intelligence, avatars and complex position determination (for example, determining the position of the human body across its range of motion in real time).

In this era of convergence, the ripping point forces shape and creates entire ecosystems and cause industries to meet their digital demise.

After all, industries are a construct of the "industrial era", where control mattered. Control was the strategy.

Vertically integrated. Customer-centric. We own the customer. We measure the customer. In our channels. Locked-in. For life. Oh dear.

What has to change most is the thinking. The Boston Consulting Group recently tweeted that "digital is all about speed" and "are you in control of your #digital journey?"

The digital ecosystems are not about control or speed.

Rather, we see the pre-eminence of the empowered customer, the influence of community, the contextual experience, content that is both created and consumed, seamless connection, value created through commerce, and confidence in interactions that deepens through cognitive insight.

Articles to follow in this series will look at various industries - professional services; big box; customer contact; membership aggregation; and public sector - and what lies beyond their ripping point.

Source: CIO Australia

 

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