The iPhone introduction back in 2007 is a classic example of how digital advancement disrupts business.
Digital disruption goes far beyond a social media channel or a digital platform, it’s more like a vortex that attracts every part of the business model and absorbs it.
This interview with Microsoft’s former CEO Steve Ballmer following the introduction of the first iPhone shows how digital disruption can change the face of an industry.
Priced at 500 dollars versus 99 dollars for competing cell phones, the iPhone could still transform the phone industry being the first smart phone available, even though Apple had zero presence in the cell phone industry prior to the launch.
In 2013, worldwide sales of smartphones surpassed sales of the more basic (and generally cheaper) feature phone devices for the first time (read more here)
In a recent survey, McKinsey found that the lack of internal leadership and digital talent still tops the list of challenges companies face in meeting their digital priorities. Similar results were observed in the previous surveys in 2014 and 2013.
This makes attracting and retaining digital talent a top priority for those companies who want to stay in the race.
In the same survey, it was observed that Digital talent seem to put more weight on culture, energy and morale among employees. It looks like those elements come before the nature of the organisation’s digital work itself. Such an eye opening finding.
Check the full report here: Cracking the digital code: McKinsey Global Survey results
A great report by Accenture Life Sciences on the digital revolution in healthcare.
Accenture estimates that digital disruption has the potential to unlock more than $100 billion of commercial value in the US over a five-year period through new digital business models.
You can access the full report here.