I turned 30 last summer, and oh my, does it feel like time is accelerating. To me, a month now flashes by in what feels like a week (if that makes sense)!
That said, technological advancements are accelerating at an even faster pace. It doesn’t feel that long ago, since I was coming home from school and jumping on Fifa with my best buddy Rob, utterly amazed by the true-likeness of Edgar Davids and Roberto Carlos. Gazing at Roberto’s swerving free-kicks rifling into the back of the net. Ronaldinho’s ponytail swaying during a reverse flip-flap! I digress… Looking back, I chuckle at the bulky pixelated graphics I once marvelled at.
Fast forward just a few years, the inventor of the GPU, Nvidia, is pushing AI to the next level with AI generated human faces that are virtually indistinguishable from otherwise genuine photographs.
Earlier this week, Nvidia published a video which highlights the advancements they’ve made at creating fake human faces via artificial intelligence. Is this alone not a stark indication of how fast things are moving?!
As a Salesforce Recruiter and Co-Founder of a tech startup, I’m often taken-aback at how unprepared some of today’s business leaders truly are. A part of me suspects that they know full well that change is coming. But due to either feeling horrendously unprepared, or simply preferring to bury their heads in the sand, continue to waltz idly into the headlights of the digital revolution.
Disruption is not just a matter of new-age tech companies uprooting legacy players – the old guard that adopt technology efficiently are also shaking up industries and gaining market share.
In the face of rapid advancements, many companies don’t feel that they are ready for the revolution. According to a recent Accenture report, “while 93 percent of executives say that they know their industry will be disrupted at some point in the next five years, only 20 percent feel they’re highly prepared to address that threat”.
In many cases, a new technology-driven business model can completely disrupt industry stalwarts – Blockbuster immediately springs to mind. However, it doesn’t have to be that way. Change is always daunting, but companies that efficiently adopt new tech can keep afloat and thrive amid disruption and emerge as industry leaders.
The threat of competition provides an opportunity for legacy players to become more innovative and forward-thinking, which ultimately benefits the consumer.
Merry Christmas everybody!