Authors: Tomoko Yokoi, Jialu Shan, Michael Wade, James Macaulay
- Digital disruption is in full swing, with over 88% of respondents reporting that digital disruption will have a major or transformative impact on their industries.
- There is a widespread belief that more than one-third of the top 10 incumbents in each industry will be displaced by digital disruption in the next five years.
- The five industries most vulnerable to digital disruption remain unchanged since 2015, although their relative positions have changed: Media & Entertainment, Technology Products & Services, Telecommunications, Retail, and Financial Services.
- The Transportation & Logistics industry has experienced the largest jump in vulnerability to digital disruption, moving from 11th to 7th place.
- While the number of companies claiming to have a digital strategy has jumped from 54% to 75%, the majority acknowledge that it is fragmented; only 22% of survey respondents claim to have a coordinated digital strategy.
- Just over one-third of respondents feel that their organization’s leadership is actively respondingto digital disruption.
- Most organizations have increased their efforts to actively respond to digital disruption, except for very large multinational companies.
- A stark perception gap exists between senior leadership and lower-level managers regardingdigital transformation efforts – whereas 39% of C-level leaders believe they are actively responding to digital disruption, this perception decreases significantly among mid-management levels.
Link to original article here digital-vortex.pdf