Transformation

• Organizations are projected to spend nearly $2 trillion on digital transformation in 2022, spurred by a proliferation of new technologies and a fear of disruption by tech-enabled competitors.
• Many organizations are approaching digital transformation and disruption backwards.
• The proportion of work delivered through automation has more than doubled over the last three years and is expected to grow to 34% in Asia Pacific in the next three years.
• With the threat of new competition, technology transformation and rising customer expectations as top drivers of industry disruption, it's no wonder that a majority of executives believe more than 20 percent of current jobs will cease to exist by 2022.
• The upward trajectory of SDN solutions will carry over into next year as digital disruption and transformation will continue to challenge customers in 2019.
• Banking seems to be more attracted to digital disruption, given that investments in digital transformation initiatives are expected to surpass $2.7 trillion by 2020 according to Fintech Innovation.
• Artificial intelligence will contribute close to US$16 trillion to the global economy by 2030 and is set to be the key source of transformation, disruption and competitive advantage in the world's fast-changing business arena.
• Artificial intelligence is projected to contribute up to $15.7 trillion to the global economy by 2030.
• Cloud computing and the internet of things are poised to create further disruption in the next decade.
• An innovation tsunami has the potential to wash over the world's energy systems: With it, disruption and transformation throughout the world economy could be as profound as the shocks of electricity and oil a century ago.
• Over half of firms have already experienced disruption to their industries as a result of new digital technologies and digital transformation processes.
• In 2018, digital disruption will continue unabated, unsettling organizations that have already started down a digital transformation path.
• Digital Transformation Will Be a Key Part of Company Strategy for One-Half of SMBs by the End of 2019.
• Only 50% of respondents (including students, university leaders, and education technology company counters) expect the traditional university "model" to be disrupted by 2025.
• Digital disruption will hit every industry at some point over the next five years and change the global business landscape.
• Global CEOs and members of Frost & Sullivan's Growth, Innovation and Leadership community expect ongoing digitization-driven disruption, collapse and transformation to be a harbinger of product-as-a-service business models.
• Applying the blockchain to Cisco's massive network of 500 million globally-deployed devices alone could create major disruption and transformation.
• 32% of company revenues will be threatened by digital disruption by 2020.
• Artificial intelligence firms will flourish in 2017 and banks will seek to use their technologies to reduce costs.
• There is broad agreement that the economic opportunity from digital transformation could be as high as $100 trillion across all industries over the next decade.
• 4 out of the top 10 retail banks will be displaced by digital disruption in the next three years.
• By 2020, four in ten incumbent companies will be displaced by digital disruption.

Last updated: 04 October 2020