Creative Destruction is all around us. Our old industries are being replaced with efficient, cheap alternatives. In the case of technology, this happens more often. There has been a cycle, and the entire industry has been adapting itself—those that did not, disappeared or shrank in size.
Who would have thought Amazon e-commerce sellers would also displace the paradigm of infrastructure with cloud computing?
Who would have imagined running an entire organization without hosting any infrastructure, tech tools, or software developers in-house? The launch of Salesforce displaced the old notion of hosting clunky software and fighting with multiple vendors.
How many Gen Z even care about Nokia phones anymore? They did not adapt to the Android ecosystem and lost the race.
How many of us know that you could courier and get DVDs delivered, like Blockbuster? With the emergence of the Internet, some players changed their business models, while market leaders disappeared. We have numerous examples, like Kodak not adapting to digital photography, while competitors innovated and swept away their leadership.
The Artificial Intelligence era we are currently in is going to have similar repercussions. Software developers and organizations that do not adapt will cease to exist or lose significant market share to newer incumbents in no time.
This is not my AI anxiety speaking, but rather the realization brought on by the advancement and rapid pace at which it’s moving.