Pokémon Go is an excellent example of the speed at which digital transformation can create business value, according to Wayne Houghton, director of growth implementation solutions in Africa at Frost & Sullivan.
Houghton, speaking at the Frost & Sullivan Growth, Innovation and Leadership 2016 Africa conference in Cape Town on Thursday, stated Pokémon Go generates $5.7 million a day, which shows the power of digital disruption.
"When technology becomes invisible, that is when it's mature. As the degree of automation, connectivity and interoperability increases, so does the transformative value of what technology can bring."
According to Houghton, for businesses to capture transformative value, they have to become agile and digital.
Organisations need to change their way of doing business if they want to adapt to digital, he noted. Effectively, the mind-set will have to change and core competencies will have to be digital.
"The disruption in the automotive industry is not because of innovation in car manufacturing, but rather the business model impact it has in disrupting the industry. Services such as Uber and Taxify are shifting the ownership from car to transportation and service.
"Businesses will require three core capabilities to thrive in the digital world. The first is rapid innovation, the second is to incubate the best ideas, and the third is being bold enough to cannibalise your traditional business," noted Houghton.
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