There is no question that digitalization is a major driving force of change. This is true for our private life (just imagine the life 10 years ago without smartphones and Apps ). And it is even more true for businesses.

Take the possibilities of the Internet of Things (IoT) together with cognitive computing. In a recent survey by IDC 30% of the responding industry leaders believed their industry would be disrupted by IoT at some point. I am surprised it is only 30%.

Digitalization is not only about technology. It is about the business model, stupid.

It is not enough to just look at the new technologies like IoT. Or to establish a digital officer in the management team. This might be a start. Certainly it is not enough. This is about the fundamental change from products to smart solutions. Every industry will face new competitors which don’t worry how things have been done in the past. They might be small and don’t bound by regulations (or they do not care as long as they can). And they will bring more value to customers through smart solutions.

I believe every industry will face this fundamental change. Airbnb, Uber et al are just the beginning.

Are you prepared?