Why Disruption, Change & Acceleration Will Catch Most Companies Off Guard
In this guest post, www.which-50.com editor Andrew Birmingham and AwesomTech PR director David Binning argue most Aussie businesses aren’t nearly prepared for the rate of massive disruption heading our way…
Few companies, let alone most people, are aware of the profound changes about to sweep through every aspect of our lives. Disruption will be ubiquitous, from how we work and play, make and maintain relationships, how we think and even how we feel.
That’s the view from serial entrepreneur and [unofficial] digital historian, Michael Priddis who told Which-50 he feels awe and fear in equal measure as he contemplates what the current phase of ‘exponential technology’ will mean for human kind.
Priddis, who will be speaking at the SE-Corp’s Digital Strategy Summit 2016 next week cautions, “In future things are going to happen very quickly,” he warns.
By the future, he means, say 2030; a mere millisecond for the once aspiring geology graduate, and which, as he’s keen to point out is only as far into the future as 2002 is in the past.
An even more sobering thought, he argues, is the fact that in 2002 the Chinese economy closely resembled those of Pakistan, Nigeria and Bangladesh today.
“We know how many companies really had a plan for China,” Priddis says. “But how many Australian companies do you think have a plan for Bangladesh?”
He cites virtual reality, augmented reality, robotics, quantum computing, nanotech and machine learning as examples of new technologies that have suddenly evolved from imaginative prototype to powerful force for disruption in barely 24 months.
Priddis has spent much of the past 20 years buying, building and divesting companies in the innovation space spanning telecommunications, financial services and health. He is also one of the few people in the world who can claim to having established a bank in India and helped develop an app to tackle diabetes.
He notes many business leaders are still at a loss about how to deal with the growth of disruptive technologies and processes.
“I have CEOs say to me that they want to develop products and solutions that are ‘truly’ disruptive.” “But then we get half through and they retreat, saying ‘oh not that disruptive’.”
Often it’s because companies having a strong cultural attachment to legacy systems and ideas, not to mention hefty capital investment. And there can never be real change or innovation with this mindset.
“Still, some [businessmen] wonder how their entire business model came to be ‘disrupted’ by five guys in a garage with a great algorithm,” Priddis says. “I think too often you see big companies trying to build tomorrow’s businesses using today’s IP.”
And yet, on the other hand, there is a pervasive anxiety about the impact of things like automation and robotics; fears often fueled by the mainstream media writing headlines about vast numbers of people losing their jobs from disruption to business models, or a general erosion of humanity and personal connections.
Previously the managing director of successful digital consultancy BCG, Priddis is branching out with new firm named Faethm, after the Celtic word for ‘fathom’, one of the original meanings of which is the length of two outstretched arms also connoting friendship and acceptance. It is in this spirit Priddis feels innovation should be approached.
“Too often we seen in the media scary images and stories about robots taking over the planet,” he notes, when the real discussion needs to be about what these disruptive technologies mean for our selves, our social structure, relationships, ethics, justice and the law.
‘AI is a social revolution, not a technological invasion.”
Please login with linkedin to comment
Advertising Standards Bureau Designworks einsights inskin media Media PartnersLatest News
TV Ratings (18/04/2024): I’m A Celebrity Wins Prime Time And Key Demos
Aussie viewers can be a harsh lot at times. Only days after Ellie Cole bled her heart out, she has been sent packing.
Effie&co Launches New ConnectAsia Division To Help Aussie Brands Market To Asian Consumers Overseas & At Home
Not provided is advice on using chopsticks and not spilling ramen down your shirt.
Cashrewards Sets Out Stall For New CMO
Thinking of applying for the Cashrewards CMO gig? Here are some insider tips that, yes, are tantamount to cheating.
‘I Ask For The TV Industry To Stand Up And Defend Itself’ – Seven Boss James Warburton Steps Down
The Seven supremo heads for the exits after five years. Here's hoping the Spotlight team organised the farewell bash.
Poh! Jamie! Adriano! Paramount ANZ reveals its tasty plans for this year’s MasterChef
It's your fan's guide to this year's MasterChef! Although no tips on how to pronounce crudités or use a un fait-tout.
Dentsu’s iProspect Partners With MOOD Tea Ahead Of May Campaign Launch
We love a Mood Tea here at B&T. Although we do store old screws and nails in the International Roast caterer's tin.
Opinion: When Culture Starts Eating Itself: Navigating The Age Of Self-eating Nostalgia
Born boss David Coupland asks is adland going through a nostalgia period? But please, no repeats of Best Of Red Faces.
Who’s Going To Cannes?! The TikTok Young Lions Winners!
It's Aussie adland's next gen! They're off to Cannes with high hopes of bringing back a Lion & a foot-long Toblerone.
Adobe Launches Express Mobile App With Firefly AI
Want to be the coolest kid at Friday staff drinks but forgot your retro Nikes? This new Adobe wizardry may do the trick.
ThinkNewsBrands & IMAA Extend News Publishing Education In Brisbane
Industry duo takes its publishing roadshow to Brisbane. Was disappointed no male attendees were wearing walk socks.
B&T Chats With Wavemaker’s Provocative Pioneers On Their Cross-Pacific Sojourn
B&T TV heads to Wavemaker's Sydney digs to interview two staffers from its New York & LA digs. If that makes sense?
HoMie & Champion Launch “Give One. Get One” Campaign Supporting Youth Homelessness Via Town Square
Much like the fête's prized chutney wears a blue winners sash, so too should this top initiative from HoMie & Champion.
Thinkerbell Takes Us Back To Summer In Latest Work For XXXX
This beer ad wants to take you back to summer! Just minus any chance of a shark attack on your morning bus commute.
Cannes Lions Unveils 2024 Programme Featuring Queen Latifah, Jay Shetty & P&G’s Mark Pritchard
Are you one of the lucky ducks heading to Cannes in June? Check out the headliner acts you'll be queueing hours to see.
Scroll Media Recruits Costa Panagos From Twitch
Costa Panagos set to bring South American flair to the Scroll offices. Assuming that he is, indeed, South American.
Year13, Microsoft & KPMG Australia Launch AI Course For Gen Zs
Born around the 2000s? Need to amp up your AI creds? This guide's for you (although it's not really that age specific).
General Motors Snares Heath Walker From Scania
Do you rage about oversized American cars on our roads? You need to bail up Heath Walker at parties & industry events.
VML Launches New “Envoyage” Brand For Flight Centre
VML unveils new brand for travel operator Flight Centre. Alas, no sign of those paid actors pretending to be pilots.
Subaru Places Media Account Up For Review
Subaru puts media up for review, as adland journos get set for mandatory "agency drives off with..." headline.
TV Ratings (17/04/2024): Contestants Faced With Harsh Realities As Alone Australia Heats Up (Or Cools Down)
Alone still doing the business for SBS. Overly long train journeys not doing the business, but they persist anyway.
Ben Fordham Loses Number One Spot As Ray Hadley Celebrates 156th Ratings Win
The radio numbers are in! Discover who's off for a boozy lunch today & who's waiting for the dreaded HR death knock.
Gourmet Ice Cream Brand Connoisseur Launches New “Thrill Your Senses” Iteration, Via SICKDOGWOLFMAN
Rattling the old "truth in advertising" adage comes this ice-cream spot full of noticeably thin people.
Paramount’s Global Sales Boss: ‘Australia’s Converged Model Is A Blueprint For How I’d Like All Of Our Markets To Be’
Paramount's global sales boss gives local sales ops the thumbs up. Didn't weigh-in on the Lisa Wilkinson debacle.
TikTok Starts Testing Its Instagram Rival In Australia
In exciting news for piano playing cats & brattish pranks in shopping centres, TikTok unveils its Insta rival plans.
Man Wrongly Named By Seven As Bondi Killer Hires Lawyers
Struggling to save for a house deposit? Why not get wrongly identified by Sunrise!
Smartsheet Appoints Indie Agency Sandbox Media To Its Media Account
Can't stand your colleagues? Like to dob them in when they miss a deadline? These work management platforms are ideal.
Boss Not Letting You Come To Cannes In Cairns? Use This Business Case To Convince Them!
Stingy boss won't spring for a ticket to Cairns? Add this to your persuasive argument repertoire. Or grovel.
Alt/shift/ Brisbane Builds Portfolio With Ausbuild Creative, PR, Content & Social Account Win
The Brisbane comms/PR agency lands constructor Ausbuild. Also hoping for a discount on its new glass conservatory.
Young Guns Versus The Old Guard: Who Adds More Value to Our Industry?
Cannes In Cairns poking this hornet's nest in a lively debate. Just so long as the oldies can get up the stairs.
70% Of Aussies Don’t Have Green Power Plans ENGIE Says In Major Brand Campaign Via HERO
Are you the notorious "light leaver on-er" in your flatshare? Quell any infighting with this green energy news.
PrettyGood Launches Offering Brand & Media Solutions For Australasian SMEs
B&T applauds the charitable nature of this new agency. Although we'd hate to see it impact any Chrissie present sends.
A Blunt End: Dolphins Medicinal Cannabis Sponsorship At Risk
Yes, it's another NRL drug story. Yet, thankfully it doesn't involve coke in Kuta during the off-season.
Slew Of New Creative Hires At Leo Burnett Australia
Ahhh, all black! The outfit of choice for agency creatives, David Jones staff and everyone in Melbourne.
Under Armour Unveils Local “Live in UA” Campaign
American apparel brand set for yet another tilt at the Aussie market, as Nike declares "we'll see about that".
Pepsi Launches New Look, Refreshing Classic Fashion Staples Via Special PR
Are you always the bridesmaid, never the bride, as the old saying goes? How do you think Pepsi feels?
Pure Blonde Returns To A Place Purer Than Yours In New Campaign Via The Monkeys
B&T's always been a huge fan of the 'drink yourself thinner' diet plan. So big thanks to Pure blonde, vodka & tequila.