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The founder of the World Economic Forum, Klaus Schwab, suggests that being surrounded by digital tech will be a ‘transformation will be unlike anything humankind has experienced before[i].’ People and the organisations they inhabit could change profoundly as a result. Schwab’s statement stands as both as a prediction of future possibilities and as a comment on the dramatic impact it could have on incumbents. Indeed, 54 percent of organisations predict they’ll be out-innovated and possibly fail within five years if their digital transformation plans prove unsuccessful[ii].
 
Disruption to business is nothing new yet the pace and extent of change is, with the current transformation happening 10 times faster and at 300 times the scale, or roughly 3,000 times the impact, of the Industrial Revolution[iii]. Those that refuse, or are unable, to change their business models and legacy systems (whether cultural, organisational or technological) are losing ground to start-ups and a new range of competitors.

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