Digital disruption is when an industry changes due to new digital capabilities — causing major shifts in how business processes and models operate. The impacts can even extend to culture as a whole like with how social media platforms changed the way people communicate and consume media.
Whether they’re developing or adopting a new digital capability, organizations are constantly evaluating potential digital disruptions to gain a competitive advantage and brand loyalty within an industry. This is most recently evidenced by many organizations pursuing Non-Fungible Tokens (NFT) and other blockchain technologies, virtual reality, or the metaverse, and more.
Using emerging technologies helps improve the customer experience and business processes overall. While not all digitally disruptive technology is a right match for every industry or organization, it’s still important to gain an understanding of the latest innovations and potential applications.
There are many examples of digital disruption that have changed the way organizations and people operate in both markets and society. Some prominent examples both older and more recent include: