Six Ds of Digital Disruption

While the word digital has become as common as daylight, it's only the first of six words starting with the letter D that play a part in digital disruption. In their book Bold, Peter Diamandis and Steven Kotler wrote about exponential thinking and explained a framework called the six Ds of exponentials, which is a chain reaction of technological progression. In this episode, we'll take a look at each of the six Ds. My name is Rob Llewellyn, and as you know, companies need people with the right capabilities to manage and lead transformation. As you know, orchestrating successful transformation isn't that easy. And I mean innovative transformation which creates a new future without the constraints of the past. Which is why I hope that what I share in this episode will help you get better equipped to perform at your best as a manager, leader or consultant. If you want to learn more, go.

To studythrive.com while the word digital has become as common as daylight, it's only the first of six words starting with the letter D that play a part in digital disruption. In their book how to Go Big, Create wealth and Impact the World, Peter Diamandis and Stephen Kotler shared a lot on the subject of exponential thinking. They explained a framework called the six Ds of exponentials, which were a chain reaction of technological progression and a roadmap of rapid development that always leads to enormous upheaval and opportunity. I strongly recommend you pick up a copy of Bold by Peter Diamandis and Steven Kotler. If you haven't already done so, let me briefly introduce you to each of the six Ds. The first D is digitization. This idea starts with the fact that culture makes progress. Cumulative innovation occurs as humans share and exchange ideas. I build on your idea, you build on mine. Today, anything that can be digitized can be spread at a mind boggling pace. The second D is deception. This follows digitization and is a period when exponential growth goes mostly unnoticed because the doubling of small numbers produces results so small that they're often assumed to be a plodder's progress of linear growth. This is often when other companies laugh at the prospect of this business ever being a threat to them. The third D is disruption. In simple terms, a disruptive technology is any innovation that creates a new market and disrupts an existing one. As disruption follows deception, the original technological threat seems very insignificant. The fourth D is demonetization, which involves the removal of money from the equation. Because demonetization is also deceptive, almost no one in industries about to be disrupted are prepared for such an expected change. The hotel taxi communications industries never saw the likes of Airbnb, uber, Skype, and WhatsApp coming, and when they did, they were like rabbits caught in headlights. The fifth D is dematerialization. While demonetization describes the vanishing of the money once paid for goods and services, dematerialization is about the vanishing of products and services themselves. Many of the 1980s luxury technologies have since been dematerialized and now come standard with a smartphone. Many technologies once accompanied by a hefty price tag now come free or as an app on a smartphone. The sixth and final D is democratization. This is what happens when physical objects are turned into digital bits and are then hosted on digital platforms in such high volume that their price approaches zero. Democratization of technology and information is this process by which access to technology and information becomes increasingly more accessible to more people. Amazon's digital distribution business model went through all these stages up until the point when access to hardly any product you could ever want became available with just a few clicks of your finger. Think about what technologies today are currently making their way through the 60s. Where are areas of growth? Which innovations look promising? Identifying them is key to creating successful digital business models that can secure your company's competitive edge. But it's important to look out for the startups and companies from other industries that might have identified business models that you haven't yet. Remember that the right models can scale at a phenomenal rate. I want to spend a few more minutes talking about democratization, because even this course you're watching right now was made possible through the democratization of technology and information years ago. To have someone talking to you in the way that I am right now and sharing so much information, you might have engaged consultants from a top management consulting firm for a hefty price tag. But now you're engaging in that knowledge transfer in your own time, at your own convenience, wherever you've chosen to and and at a comparatively low price. Even the tools that I've used to film, publish, and sell this course are all digital. It would have been incredibly difficult and expensive to have done this 10 years ago. Neither would I have been able to reach such a broad global market. New technologies and improved user experiences have empowered those outside of the technical industry to access and use digital products and services. Consumers have increasing access to use and purchase sophisticated products and participate meaningfully in the development of those products in Digital Disruption Unleash Leashing the Next Wave of Innovation James McQuivy looks at the four major factors necessary for massive disruption. The first was a computer, the second was an Internet connection, the third a programming language in SDK, and the fourth was a friction free platform for distributing and making money. The fact is that these days we don't even need the programming language because we can leverage and integrate multiple software solutions that have been written by others. That's exactly how I've been able to build this course. By standardizing and commoditizing solutions that were previously custom, SaaS solutions have radically reduced the cost and complexity of core business systems and increased the effectiveness of delivering this course to a global audience. It wasn't that long ago that complex enterprise systems were the exclusive domain of a limited number of vendors who delivered sophisticated and expensive solutions to a limited number of large customers. That's all changed.

If you wanted to take your transformation capabilities and credentials to the next level, go to studythrive.com.