The ‘end of tech companies’ in the title of this article refers to the premise that, in the future, all companies will be tech companies because they will have fully embraced and integrated the digital transformation that will fundamentally affect who they are and how they work. If not, they will be left behind.
The author states that no matter what type of company you are, a retailer, a manufacturer, a healthcare provider, an agricultural producer, or a pharma company, “your traditional distribution model, operational mechanics, and method of value creation will change in the next 5 years; you will either lead or be left behind.” Your company will not be able to ignore this. No longer will the excuse ‘we’re not a digital or a software or a ‘high-tech’ company’ work.
This is because the world of software (including AI), data and analytics, and ubiquitous and low cost computing is fundamentally changing the nature of competition and customer behavior, resulting in companies needing to ‘re-tool’ six vital areas of their existence.
- Capital allocation (re-allocation)
- Product Strategy
- Go-to-Market Strategy
- Work Habits and Tools
Whether one believes this future or not is irrelevant. The force is inevitable and irresistible and it will happen regardless. The signs are everywhere and the only question is whether your company will transform itself to survive and thrive.