The pervasive role of technology now exposes every company, not just technology companies, to increasingly rapid technology-driven life cycles, which are typically less than 10 years, according to Gartner.
“Long-term expansion cycles influence all businesses, and your major competitor in 10 years - if you survive that long - probably does not exist today,” said Steve Prentice, vice president and Gartner Fellow.
“To compete in this environment business leaders must destroy and rebuild the very businesses they helped create,” said Prentice.
To survive and even prosper beyond the first decade requires continual reinvention. However, the challenge with reinvention is timing.
“The idea to ‘quit while at the top’ or to regenerate, may seem counterintuitive, but may be the only winning strategy,” said Prentice.
Business and IT leaders need to prepare for the disruptive promise of “smart machines”, which include autonomous vehicles, intelligent personal assistants, smart advisors and advanced global industrial control systems.
The potential of smart machines and their impact is vast. They can make people more effective, empowering them to do what appears to be impossible. Just a few years ago the idea of ‘self-driving cars’ seemed very futuristic; today it is a reality and elements of those capabilities are already well established through automated features like collision avoidance, pedestrian detection and automatic braking. Fully autonomous trucks are already in commercial use on private property in limited numbers today, but their deployment will inevitably spread.
“Today, smart machines are usually the result of brute force automation,” said Prentice. But the next generation will exploit a variety of techniques to not only learn, but adapt to their environment. They will be able to seek new information to deal with novel situations. The criteria for ‘smart’ will be continually rising in the coming years.
“Long-term expansion cycles influence all businesses, and your major competitor in 10 years - if you survive that long - probably does not exist today,” said Steve Prentice, vice president and Gartner Fellow.
“To compete in this environment business leaders must destroy and rebuild the very businesses they helped create,” said Prentice.
To survive and even prosper beyond the first decade requires continual reinvention. However, the challenge with reinvention is timing.
“The idea to ‘quit while at the top’ or to regenerate, may seem counterintuitive, but may be the only winning strategy,” said Prentice.
Business and IT leaders need to prepare for the disruptive promise of “smart machines”, which include autonomous vehicles, intelligent personal assistants, smart advisors and advanced global industrial control systems.
The potential of smart machines and their impact is vast. They can make people more effective, empowering them to do what appears to be impossible. Just a few years ago the idea of ‘self-driving cars’ seemed very futuristic; today it is a reality and elements of those capabilities are already well established through automated features like collision avoidance, pedestrian detection and automatic braking. Fully autonomous trucks are already in commercial use on private property in limited numbers today, but their deployment will inevitably spread.
“Today, smart machines are usually the result of brute force automation,” said Prentice. But the next generation will exploit a variety of techniques to not only learn, but adapt to their environment. They will be able to seek new information to deal with novel situations. The criteria for ‘smart’ will be continually rising in the coming years.
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