A new global study has found that almost 80 per cent of businesses believe they will be disrupted by a digital start-up either now or in the near future and 50 per cent of those fear they’ll become obsolete because of it.
The study, by Dell Technologies, was based on the responses of 4000 businesses across 16 countries. It found 78 per cent of respondents believed that a new digital start-up would pose a serious threat to their organisation. Some 73 per cent agreed that they should try harder at digitally transforming their own businesses and over half agreed they’d seen significant disruption in their industries over the past three years.
Sixty per cent agreed they were unable to meet customer demands and 64 per cent said they were unable to act on intelligence in real time.
Dell Technologies CMO noted: “So far the fourth industrial revolution has proved as ruthless as its predecessors. If companies can’t keep up, they will fall behind … or worse. The ‘delay until another day’ approach simply won’t work.”
However, in response to the disruption, 73 per cent agreed they needed an improved tech strategy for their business. Sixty-six per cent were planning to invest in IT and better digitally-equipped staff and over three-quarters were expanding their software development capabilities.