Once upon a time, Nokia was the market leader in cell phones. As soon as double SIM phones and smart phones stormed the market, Nokia was displaced from the market. It was unprepared for the changes in the market.
Singularity is a period of rapid technological change with a deep impact, transforming human life and business irreversibly — (Kurzweil). There are mind-blowing changes all around — business, society, climate and geopolitics.
One by one, industry will experience exponential change. There would be a sudden change in customer preferences. Technological advance will be so rapid. The manpower required and the skill required will be different. Many organizations will be caught napping. It is the Singularity future. The most crucial element will be the rapid change. The current 500 large corporations will no longer remain large, some 40 per cent new companies will replace them in near future.
Intel has lagged behind in the race of AI. Nvidia who used to make gaming chips diversified into AI chips and have become the market leader.
Boeing was a coveted corporation in aerospace area. Boeing Max faced crashes, as pilots were not trained on new software. Its Starliner faced hitches in space and was brought back to the earth without its crew of astronauts.
In the next decade, only those organizations will prosper whose leadership is able to deal with the pace of change. Either you disrupt or be disrupted.
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