How do technological disruptions affect established industries? 🔊
Technological disruptions can significantly affect established industries by challenging traditional business models and altering consumer behavior. Innovations, such as automation, artificial intelligence, and digital platforms, can lead to the decline of companies that fail to adapt. Established players may face increased competition from agile startups, driving them to rethink their strategies and invest in new technologies to remain relevant. Furthermore, disruptions can result in shifts in job demands and skill requirements, necessitating workforce retraining and a cultural shift within organizations to embrace change.
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