What is Digital Darwinism? | ALC Training News
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By now we are all aware of the increasing speed at which technology is evolving and expanding into new areas of our lives. From the automation of transport to the ways big data is changing our consumption patterns, technology is transforming the way we interact with each other and live our lives.
Adapt to change is the new motto of the digital age.
Social media, mobile and wearable devices are just some of the technologies that are disrupting markets. As those with ITIL certification will know, one of the major effects of this is that incumbent companies are falling away as digital natives (companies born in the digital age) are entering the market in greater numbers.
This is what many are calling the era of Digital Darwinism. An epoch of world history whereby technology and society are changing faster than businesses can adjust.
Adapt or die
As a result of the increasing amount of companies finding themselves unable to survive, there has been a recent change in the way leadership is being conceptualised. Under the mantra of "adapt or die", a new wave of leaders have arrived on the scene, championing new business models and new ways of approaching the market.
Previously, many leaders believed that they had two options when facing down a digital transformation: React or be disrupted. However, these new companies and organisational leaders are constantly thinking about the future by investing in digital products and new business structures.
And this is doing wonders for their companies, take for instance the report The Digital Advantage conducted by MIT Sloan School of Management. It found that organisations that are highly invested in digital transformation management and technology-based change outperform those that are not. Specifically, the study found that companies that take on the mantra of 'adapt or die' create more revenue, they are more profitable and also possess much higher market valuations.
How can I take advantage?
As companies continue to strive for relevance, they are constantly trying to keep up with new consumer behaviour and technology. However, one of the biggest issues about reaching digital maturity is that technology is both a part of the solution and the reason for the problem.
Take for instance a study from CA technologies. While 50 million mobile applications are downloaded every day, close to 95 per cent of these apps are abandoned within a month.
In response, companies are looking to stay ahead of the game and be continuously transforming. Like a snake shedding its skin, contemporary companies need to be reborn every few years. But to accomplish this they need the right minds working together towards the goal of continuous digital transformation.
From ITIL to IT project management training, individuals can capitalise on the demand by ensuring they talk to an experienced training provider today.
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