By Edward Kuo, Kuo Consulting Group
Sometimes, I lay awake at night wondering who comes up with all of the new buzz words for the business world.
Internet of Things. Disruption. Cloud Computing. Hyperconnectivity. Blockchain. Live Streaming. Data Analytics.
Obviously, some high-level visionary authors have had a big role in creating these terms, perhaps so they can promote their latest best-selling book to business people around the globe. While each new phrase helps define a new trend, it simultaneously creates confusion and complication in the ever-changing business landscape. In the end, it becomes difficult to differentiate between what terms are pretty cool to think about and what new trends are actually necessary for our own businesses to succeed.
With that said, two of the more useful terms that have caught my attention of late are Digital Transformation and Gig Economy.
Digital Transformation
We all know that our businesses go through technological change, though some would argue the aftermarket is slower to change than other industries. Looking deeper into today’s current reality, we see an influx of new employees who have devices permanently connected to their hands. According to Zenith (the new media firm, not the old television company), people around the world on average will spend 122 minutes each day accessing the Internet using their mobile devices.
