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Mariano Browne
All man-made products have a finite or expected useful life. The same is true of business models. Technological advancements affect businesses at all levels, strategic, operational, financial and competitive. Its impact, therefore, is disruptive at the level of the individual firm as well as whole industries. The current focus on artificial intelligence and its business application is a case in point.
The difficulty is that businesses may not see how the change will affect them and cannot adapt, or adapt in time. Change occurs at the margins or in particular market segments and is therefore overlooked. The new product may be simpler, cheaper or more convenient, but not necessarily technically superior. But technology improves quickly (Moore’s Law) to meet the needs of the mainstream market, and once it becomes mainstream, it displaces competitors.
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