Taking the business of Kodak as an primary and introductory example:
In 1998, Kodak had 170,000 employees and sold 85% of all photo paper worldwide. Within just a few years, their business model disappeared and they went bankrupt. What happened to Kodak will happen in a lot of industries in the next years - and most people don't see it coming. Did you think in 1998 that 3 years later you would never take pictures on paper film again? Yet digital cameras were invented in 1975. The first ones only had 10,000 pixels, but followed Moore's law. So as with all exponential technologies, it was a disappointment for a long time, before it became way superior and got mainstream in only a few short years. It will now happen with Artificial Intelligence, health, autonomous and electric cars, education, 3D printing, agriculture and jobs. Welcome to the 4th Industrial Revolution. Welcome to the Exponential Age.
Disrupting traditional industries with software will increase the coming years.
Looking at software solution Uber; they don’t own cars but are the biggest taxi company in the world.
Looking at software solution Airbnb; Biggest hotel chain without any real-estate and properties.
MagnaVersum will develop software and applications to complement the 4th Industrial Revolution. These applications and software will help businesses to easily adapt to new technology like AR (Augmented Reality) and VR (Virtual Reality).
Next blog will be based on AI (Artificial Intelligence) and how Computer Vision – Machine Learning is the base for AI.