Disruption of Things

I recently attended the Thomas Reuters Public Private Partnership Series in Charlotte, NC. It was a spectacular line-up of experts and thought leaders in the areas of Artificial Intelligence, Cybersecurity, Blockchain, and Digital Identity. The vast majority of attendees were from financial institutions, law enforcement, auditing agencies, and cybersecurity consulting firms.

As I made my way around meeting folks and listening to these brilliant experts talk about the advances in digital and virtual technologies and the impacts to the financial services industry — I wondered what are other industries and leaders doing to prepare for the technological tidal wave that’s forthcoming.

For example — just a couple of years ago, Bitcoin was this crazy experimental concept where only a few brave souls dared to invest and experiment. Fast forward to 2018, there are a multitude of digital currency platforms that are valued in the billions, and by 2019 will be around $4T* — all leveraging Blockchain technology. The speed of adoption for this type of cutting edge technology is no longer in 3-5 years, it’s in 18-24 month cycles and it will shorten as more FinTech companies, investor groups and general population of users are able to experience the value it delivers — quickly and seamlessly.

The magnitude of the ‘Disruption of Things’ (DoT) — being introduced by Blockchain — is so much more than being able to make purchases from a digital device, opening an account on Coinbase or getting up close and personal with the algorithms to get access to Big Data – and this force of change isn’t just reserved for the financial services sector.

The Blockchain tsunami is industry agnostic. It will forever alter the way any company — delivers products and services to the marketplace; pays vendors, suppliers and employees; attracts, retains and develops talent; and demonstrates organizational agility to innovate and deliver a positive customer experience. It will most definitely transform the way leaders design their organizational structures and run their business.

There are change leaders who recognize this opportunity for exponential growth with Blockchain and are taking swift action. They are sprinting towards this new future with enthusiasm and quickly scaling strategic and organizational capabilities to ensure readiness and focus on strategic execution, innovation and learning. They are intentionally creating a culture of healthy tensions to challenge the “status quo” and inspiring others to do the same. They are working endlessly championing a common core message — “be the disruptor or be disrupted”. They reside in all areas of an organization — as formal or informal leaders, as multipliers and influencers. They are — “Purple Squirrels driving bright green Ferraris”.

What are you doing to prepare yourself and your organization for the Disruption of Things? Are you purposely seeking ways to transform the way you and others think, behave and perform in the digital era?

We encourage free exchange of ideas and insights to foster leadership learning. Please share your journey with us.

For More Information about the Authors: Rhonda L. Frith-Lyons & Tom Fehlman

*Source: Thomas Reuters Public Private Partnership Series, Panel Discussion, April 24, 2018.

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