Technology is the most important agent of change today; hardly any industry is immune to both its value-creating and disruptive potential. However, in an April 2011 survey of corporate directors by McKinsey Quarterly, more than half said their boards had only one technology-related discussion a year, or none at all. Since then, the situation has not improved much, notes Antony Bream, UK managing director at Crealogix.
Companies across all industries are vulnerable to technology-fueled disruption. Few expected Apple to disrupt the music industry with the iPod and iTunes, communication with the iPhone, and now edging closer to disrupting consumer banking with ApplePay. Amazon has dramatically impacted not just book shops but shopping, and Google is now a verb.
