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Milken Conference: Surviving in an Era of Digital Darwinism

EVENTS / 05.02.16 / Luke Reimer

john-chen-milken-3Digital Darwinism is the idea that digital technology advancements are forcing companies to evolve and adapt more rapidly than ever – or fail. Meanwhile, the strong will not only survive, but can also thrive as they take advantage of the new models and opportunities.

The way that Uber has affected private transportation worldwide is only one example of how the Digital Revolution can spin an entire industry on its head. Business models now evolve at an unbelievable pace.

At the Milken Global Conference 2016, the opportunities appearing with the Internet of Things are balanced by old ways that are rapidly dissolving in the face of accelerated data sharing and access, according to panelists including BlackBerry Executive Chairman and CEO John Chen (above left). Of course, all of that data coming in from IoT-enabled sensors in all manner of devices must be analyzed and organized to be relevant.

The “user interface and usability [of data] is a huge thing,” he said.

So is the security of that data, though, Chen argues, the biggest risk may not be the one you first think of.

“The biggest issue with data is not hacking but people changing your data,” he said.

Panelists agreed that while Digital Darwinism affected all industries, healthcare and education might be the among the first.

What are some digital advancements that you foresee causing major disruption, and opportunity, for businesses and industries? How can businesses foresee and act on coming trends, especially when few corporate entities are structured for rapid transformation? Share with us in the comments below and mention @BlackBerry4Biz on Twitter.

About Luke Reimer