Commerce is on the cusp of radical change. Is your organization ready?
Activities traditionally associated with commerce are being disrupted and transformed by innovations that will redefine how we produce, distribute, market and consume products and services. Our analysis points to a redefinition and upgrade of commercial practices around the rapid technological, operational, and societal shifts that are changing how we experience reality, as well as what and who we trust.
From fake news to disinformation and the collapse of institutional trust, businesses and governments are waking up to a different world. While leaders formulate strategies to deal with massive structural changes, signals are pointing to an even larger wave of cultural shifts that will have long-standing implications for the future of commerce, and for your business.
These shifts are brought on by a number of factors: the growing capabilities of technology to manipulate reality; an increase in both the volume and intimacy of the data we generate; and operational innovations that radically improve the ability of organizations - both productive and malignant - to adapt and respond to contextual input.
The exponential pace of technological development is a defining factor of the Fourth Industrial Revolution, and it provides the backdrop to the transformation of commerce.
The Fourth Industrial Revolution is seen as a new stage of human development, one defined by "a fusion of technologies that is blurring the lines between the physical, digital, and biological spheres", as well as disrupting virtually every industry.
If the merging of our physical, digital, and biological contexts sounds like science fiction, think again.
Some opinions expressed in this article may be those of a guest author and not necessarily Analytikus. Staff authors are listed https://www.weforum.org/agenda/2018/06/commerce-cusp-radical-change-organization-ready