Technology disruption is inevitable. We're all tired of hearing that. However, it is true, and it is coming soon to every single industry. In the past, companies competed with the same methods; today, there's an innovation challenge. There's even a big debate about the fact that startups are becoming more potent than incumbent companies.
Now, is there a way to see when technology disruption is coming to your industry? Although there is no single recipe to prevent technological development, you can indeed identify the early signs of disruption in your industry. Artificial intelligence, robotics, and machine learning will be part of your industry; the question is when.
Customers' Preferences Are Changing
The first thing you need to know is how your customers are changing. When consumers change habits, you need to find the signs and adapt to their new preferences. When smartphones became popular, it became imperative for companies to invest in mobile development. The retail industry had to adapt to this new business model where customers buy their products on their phones.
When customers change preferences, it doesn't only affect B2C; it also implies changes in B2B. Consumers are more demanding than ever. Companies need to hire other businesses to help them improve their services. Customers usually change preferences with digital disruption. That's why it's so important to be aware of these trends in consumer behavior.
More Venture Investment in Your Industry
If you want to follow the traces of tech disruption, the best way to do it is by keeping an eye on venture capital. Venture investment is the money invested by giant corporations on small companies that have the potential to grow in the future. If there's a high volume of money invested in your industry's venture capital, it means that technology disruption might come soon.