#1: Robotic Process Automation
“recent developments in machine learning will put a substantial share of employment, across a wide range of occupations, at risk in the near future.”
#2: Smart Contracts
“Smart contracts” may be the most transformative blockchain application at the moment. These automate payments and the transfer of currency or other assets as negotiated conditions are met. For example, a smart contract might send a payment to a supplier as soon as a shipment is delivered. A firm could signal via blockchain that a particular good has been received—or the product could have GPS functionality, which would automatically log a location update that, in turn, triggered a payment. We’ve already seen a few early experiments with such self-executing contracts in the areas of venture funding, banking, and digital rights management.
The implications are fascinating. Firms are built on contracts, from incorporation to buyer-supplier relationships to employee relations. If contracts are automated, then what will happen to traditional firm structures, processes, and intermediaries like lawyers and accountants? And what about managers? Their roles would all radically change...."
#3: API Economy
I would hypothesize that most Disruptions can be prevented from having a Big Bang effect by smart companies by:
- early identification of emerging trends
- what-if /SWOT analysis to identify impact on existing business
- identify opportunities to leverage the emerging trend
- get "co-opted" into the evolution process
- ride the evolutionary wave and reap the benefits.
Companies which do not do so will feel the impact of what was actually an evolutionary process as if it was a "Big Bang". Guys who see an oncoming bus and prepare for it can run alongside it a bit and then board it ; guys who are oblivious will be "hit by a bus".
So that’s why I view most disruptions as evolutionary rather than Big Bang and recommend that organizations prepare for them that way. For each of the companies that have been highlighted as being affected by the Big Bang disruption there will be countless others who would have thrived from the same disruption.* Disrupter or Disruptor: I have chosen to use Disrupter!