In the present times, technology is changing very fast, what is relevant today may not be after a few years. So if you are not adapting to the changing times, you will be left behind.
Here are a few examples of CHANGING TIMES:
- In the year 1998, Kodak had a employee strength of approx 1,70,000, and company was controlling the supply of 85% of word’s photographic paper. Within few years Digital photography kicked them out of the market, as Kodak did not switched to digital photography business, and all the employees were rendered jobless.
- HMT watch, Bajaj Scooter, Murphy Radio, Nokia Mobile, Ambassador Car, Rajdoot Bikes were very good products, they were left behind because they did not change with the times.
Can you imagine in the next 10 years full world is going to change, as 70-90% of present businesses will go out of the business, welcome to 4th Industrial Revolution. Look into these facts:
- UBER is only a software. They do not own even a single car and yet they are world’s biggest Cab company.
- Airbnb is world’s largest Hotel company, the fact is that they do not own any hotel.
- Other such examples are Paytm, Ola cabs Oyo rooms.
- In the United States of America (USA), young lawyers are facing difficulty in finding work as IBM Watson Software can give better legal advice in minutes. In the next 10 years 90% of lawyers will become jobless, the remaining 10% will become super specialists.
- A software named Watson can diagnose Cancer 4 times more accurate the present clinical methods.
- In the next 10 years 90% cars will disappear from the world’s roads, and the remaining will be electrical or hybrid cars. Consumption of petrol will be reduced by 90%, and all oil producing nations will face financial crisis.
- You will call cab from Uber like software app, and few minutes later a driverless cab will arrive at your doorstep, and even you will be able to share the ride with someone else to save the ride cost.
- With car becoming driverless, 99% of accidents will be avoided, and this will ruin the business of Car Insurance.
- In the future Driving will not be any profession. As 90% of cars will disappear from market, there will not be any traffic jams/problems or parking issues, because one car of future will replace 20 cars of today.
- About 20-25 years back, there used to PCOs at every corner, then mobile came into everyone’s pocket and slowly PCOs started disappearing. Then all those PCOs started the business of selling phone recharge, now even recharge can be done on line.
- Friends, have you ever noticed that there so many Mobile shops in the market for Sale, Service, Recharge, Accessories, and Repair & maintenance.
- Payment system is changing rapidly, from cash to credit/debit cards, and now transactions are becoming digital through Apps like Paytm, G pay, and online banking apps. Payments can be made through online banking also, to payees bank account.
World is changing very fast, you have to keep your eyes and ears open otherwise you will be left behind.
In the end one has to change with changing times, and change your personal behavior and the ways to run your business accordingly.
TIME TO TIME UPDATE & UPGRADE.
Waiting for your feedback on this blog.
Anil Malik
Mumbai, India
16th July 2024