Some sectors of technology change so fast it can be bewildering for people whose jobs and livelihoods depend on keeping up with new innovations and developments which can mean the difference between profit and loss, success and failure.
Traditionally, larger companies have been wary of the threat of smaller, more nimble and more flexible competitors launching more innovative products and services faster and at a lower price point and taking away their market share.
HP, one of the world’s largest manufacturers of computer technology, and Deloitte Consulting have partnered to provide a range of products and services intended to help industrial companies to digitise their operations.
The idea of digitalisation is still something many industrial companies are getting used to, and it’s something that has yet to be fully realised.
“This important research indicates public opinion of the future of the industry has taken a measurable, positive jump as people acknowledge the strong connection between this industry, the US economy and the American way of life.
One of the world’s largest business consultancy firms says many of the largest companies we know today will probably be overtaken by new corporate giants within a decade.
In a report into what’s being called the “fourth industrial revolution”, Deloitte says: “About 50 percent of S&P 500 firms will likely be replaced over the next 10 years due to new digital disruptors and inability of established firms to reinvent themselves.”
The US automotive manufacturing industry is probably going through some angsty times right now, what with president-elect Donald Trump reiterating his campaign pledge to repeal or at least renegotiate the Trans-Pacific Partnership, the North American Free Trade Agreement, and any other free-trade deal previous administrations have signed up to.
For a highly globalised industry like the automotive sector, which sources parts from all over the world and may assemble its vehicles in any number of countries simultaneously based on a common platform, this is perhaps one election promise which it would rather not be kept.
However, Trump has already produced a presidential address style video in which he says: “I am going to issue a notification of intent to withdraw from the Trans-Pacific Partnership, a potential disaster for our country.
One quarter of business services jobs at risk of automation in the next 20 years, according to Deloitte business analysts
More than a quarter of jobs in the business services sector are at high risk of automation in the next 20 years, according to a report by Deloitte, the business advisory firm. This is largely a result of the falling cost of technology combined with the rising cost of labour.