Digital disruption is a fairly well understood dynamic: new entrant uses technology in new ways to upend existing business models and disrupt markets. In other words, digital disruption is a distinct force with a distinct life span that is mostly external to traditional markets and businesses.
But what if it is more than that? What if it is the canary in the coal mine representing the first signals of a shift in our economy and society? Consider the following:
7% of jobs will exit the economy due to automation even if one considers the jobs created specifically by automation. Without the creation of different products or markets (think of the app economy), automation can cause a major shock to developed economies.
We are already seeing early indications of how high-performing, highly liquid platforms (think Facebook) can extend services and experiences into different industries (e.g. banking and peer-to-peer lending) to blur or pummel traditional industry lines and norms.
The next step in Uber is self-driving cars which are moving from a cool idea to a reality – and will cause duress or change in automotive, transportation, and insurance markets (let alone public safety norms).
Artificial intelligence offers up the opportunity to change the health of populations, changing life expectancy, the very nature of diagnostic, surgical, and hospital care, and the economics of health insurance.
Five years into the age of the customer and it's clear that we're just getting started. More technology is coming — Amazon Echo, anyone? — and that doesn't even begin to touch on the stuff that will hit closer to 2020 and beyond: virtual reality, augmented reality, self-driving cars, and robot assistants.
I'm pleased to introduce my latest report: "Leadership in the Age of the Customer." This project is the result of months of work to update our view of the age of the customer, a 20-year business cycle in which power is shifting from businesses and institutions to end consumers. Technology, information, and connectivity are combining to instill in people a belief that they can have what they want, when, where, and how they want it.
The key to emerging triumphant through all of this will be customer obsession. Organizations that put the customer at the center of their process, policies, and practices will successfully develop and deliver the experiences that hyperadoptive customers are ready to embrace. That will mean changing the operating model of the organization to be more customer-obsessed. It will also require that executives consciously lead the organization to customer obsession.
Two weeks ago, I stood on Forrester's mainstage at its 2015 Forum For Marketing Leaders in New York (see a few minutes of the speech below). There, I told an audience of hundreds of our clients about hyperadoption, a term that I'm amazed no one has coined before now. Get used to the word. Because it's the characteristic that will define the next 10 years of your personal and business experience. In fact, in our first report debuting the concept of hyperadoption — released the same day I stood on the stage — I claim that hyperadoption will cause the next 10 years to generate an order of magnitude more change in your life than the past 10 years did.
That's an audacious claim. Because the past 10 years gave you the smartphone and the tablet. But I mean it, and over the coming year, I intend to prove it in my research.
Forrester clients can read the report, which synthesizes much of the work I've done over two decades, where I've had a front-row seat to the changes in how consumers adopt, such as the first consumer experiences in what was then known as the World Wide Web, including that very rare behavior known as online shopping. That experience, combined with the neuroscience research I've followed since my own days in the lab, has convinced me that the economics of digital disruption now allow people to bypass the ancient, loss-avoiding algorithms running in our heads that used to make us cautious of new things and now no longer do.