Tearing down the walls between industries

Soon, it will not be easy to recognize the boundaries of different industry sectors. In a world that is being changed by new technologies, companies will not be in their comfort zones. Traditional, established and well-framed sectors will be rare. AppleAmazon and GE have successfully moved into new industries.

Companies will soon need to be ready to stretch their horizons. The changes are unprecedented – technology is such a strong enabler. If you are a business leader, then expect that your sector is going to be transformed, probably within a decade.

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Automakers and telecommunications – the first wave

Not so long ago every telecom company relied on routing calls and data. But now? Many telecom companies around the world are primarily providing entertainment content.

The auto industry will also be transformed, according to an article on the strategy-business.com website. In the future, they will be facilitating mobility – deploying cars when consumers order them, rather than just producing vehicles.

These services will be aimed at fulfilling customers' immediate needs. One time they'll get a spacious stationwagon for a weekend away, another time they'll need a microcar for a quick trip to the city. The vehicles will be driverless – and don’t forget potential car-sharing. That means that there will be many fewer car owners in the foreseeable future.

Healthcare and pharma will evolve

The healthcare industry will adapt to the Internet of Things. Sensors will be placed on patients' bodies and will provide data to health professionals, who will be able to make early diagnostics.

Technology players will become more active in healthcare. With the emergence of personalized medicine, the once rigid boundaries between technology, pharma and healthcare are disappearing.

-jk-

Article source Strategy+Business - a U.S. management magazine
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