In 1999, Bill Gates wrote a book called “Business @ the Speed of Thought” that discussed the integration of technology and business. This marked the beginning of the digital economy, which has continued to evolve to the present day. The concept of the “digital nervous system,” as opposed to the analog, is a frequently cited idea in the book. It refers to a company’s internal system of inputs, thinking, planning, communication, and action, and asks the question of whether a company’s IT infrastructure is truly adding value. The more modern term, “Zero Latency Enterprise,” represents the way in which an enterprise leverages IT systems to quickly communicate with its customers, employees, and trading partners.
As we enter 2023, generative AI and its various applications are rapidly gaining popularity. Companies that embrace AI and robotics as part of their digital nervous system or zero latency enterprise will have a distinct advantage over those that are passive or reactive. This is because disruptive innovation occurs every 10 to 20 years, leading to the decline of established companies and the rise of new ones. Whether a company is proactive or reactive to these technological changes will greatly impact its future success.
Recent changes in leadership within the automobile industry provide an example of this. The CEO of Toyota, Akio Toyoda, stepped down to make way for a younger successor, while the head of the auto group’s Lexus brand operation, Koji Sato, became the new CEO. This shift was driven by the growing threat posed by the electric vehicle market led by Tesla, which has disrupted traditional automakers. Similar scenarios have played out in other industries, such as the smartphone market, where companies like Nokia failed to adapt to new technology and were eventually overtaken by companies like Samsung, who embraced the shift to Android.
The lesson from these examples is that the top management of companies must have a clear sense of the future and stay in touch with the customers they serve. Too often, internal reporting and feedback dominate the decision-making process, leading companies to neglect their original purpose of fulfilling customer needs. Companies that ignore the rise of AI and robotics automation will struggle to remain relevant, and must adopt a mindset of lifelong learning and innovation to remain competitive. With new emerging technologies constantly being invented, companies must be proactive in exploring ways to integrate these technologies into their business to improve and remain innovative.
E-SPIN is dedicated to building a value-added ecosystem for its customers, suppliers, and business partners, with the belief that everyone can benefit from working together (Together Everyone Achieve More = TEAM). If you are a potential new supplier or business partner with value-adding solutions, or a new customer looking for trustworthy solutions, feel free to reach out. E-SPIN is always eager to explore ways to create synergistic outcomes for all parties involved.
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