Don’t Let Your False Sense of Security Fool You
Without question, new technologies such as autonomous vehicles and smart city platforms are emerging at the intersection of a new digital economy and business sectors.
It is also equally true that the sources of profitability will change dramatically 10 to 15 years from now. Currently, mutually reinforcing developments will have tremendous implications on many sectors, i.e. the most talked about are the automotive industry and retail business. Each has its own case, but similarly, both are getting caught up with out of date business advantages and depleting resources.
In case you missed it, 5G and digital will change the world like never before. To this end, a wide range of new models is emerging. At one end, it is fully supported by digital along a spectrum that spans almost every social sector and purely profit-oriented businesses at the other.
Significantly, if you have never imagined what living in the next 50 years would be like, it is going to built around one primary objective—to solve our unique social problems. On this spectrum, the relative emphasis being placed on current challenges such as ageing population and smart city fall squarely in the mobility sector.
For example, Boston Consulting Group recently estimated that by 2035, 18% of passenger commuting range will be driven in vehicles shared on demand, primarily autonomous battery electric vehicles (BEVs).
Things are going to get pretty mobile and fluid from here forward. So, if you are a business entity, this is a question that you need to ask yourself. Where do you profit as technology transforms future economy and ultimately, living.
This is a crucial time to identify which key growth areas to invest in. Certainly, not deploying any form of digital strategy to contend for digital leadership is a sure fire way of becoming mediocre in an age where everything gets compared apple to apple these days.
The sharing economy and the on-demand digital platforms are growing at an exponential pace. At The Codian, we would like to advocate, to secure an edge against your competitors that will most likely come in the form of small and nimble tech players, companies need to pursue a variety of growth areas to shape their own business mobility agenda.
Ultimately, if you can fluidly picture how you can arrive there in 15 years, you have got a strong business case.
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