Big-name CEOs and executives are increasingly acknowledging the potential for disruption in their industries. Jamie Dimon, CEO of JPMorgan Chase, has admitted that Silicon Valley is coming, referring to the rise of fintech. Similarly, Jeff Immelt, former CEO of General Electric, recognised that industrial companies must become digital to survive.
Meanwhile, Bob Iger, Disney’s CEO, has identified technology as the primary disruptor of the entertainment industry. In contrast, Netflix’s Reed Hastings sees sleep as his company’s biggest competitor, indicating a shift in how competition is perceived.
In the world of automobiles, Elon Musk of Tesla has argued that traditional car manufacturers are in grave danger due to their slow adoption of electric vehicles. This sentiment is echoed by Ford’s Mark Fields, who predicts that the next decade will see more dramatic changes in the automotive industry than the past five decades combined.
In the retail sector, Walmart’s Doug McMillon has stated that the company must move with speed and scale to compete in the e-commerce landscape. And in the realm of real estate, Zillow’s Spencer Rascoff believes that technology will revolutionise the way people buy and sell homes.
These comments demonstrate a common understanding among industry leaders: change is not only inevitable but is already happening.
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