As IT becomes increasingly linked to the physical world and indispensable as business infrastructure, it has given organizations the power to transcend established boundaries, expand into new industries and realize vertical integration.
Meanwhile, IT's growing application to the realm of science is finding solutions to long-standing problems.
Businesses deeply linked to IT will transcend existing constraints and change the way value is delivered. The growth of smart devices – including earbuds, cameras and cars – has made it possible for manufacturers to use software improvements to continuously increase the value of a product long after the sale has been made. With users constantly connected to the world through their smartphones, every business is becoming a service competing for users’ disposable time and money. IT systems that bring about this new value and competitive environment are maturing into commodities as they are organized and integrated into business enablers.
IT is a powerful differentiator in business. Companies that have secured an edge in technology development will start new, vertically integrated business models and transcend established boundaries. Overwhelming competitiveness in core areas of IT – software, IT infrastructure, data and AI – is key to broad dominance.
As IT continues to integrate with business, the next challenge is to extend the virtual world into the real world and maximize its benefits. From the laws of physics that surround us to the roots of life, there is still uncharted territory for humanity to explore. The world is meeting this longstanding challenge with the tremendous acceleration of IT.
Any new growth strategy must begin with the search for the next paradigm shift at the intersection of technology and business.