Digital Transformation: Survive and Thrive in an Era of Mass Extinction, by Thomas Siebel is a the most important and informative book I have read in 2019.  It analyzes the confluence of Cloud Computing, Big Data, Artificial Intelligence and the Internet of Things, as well as, the current increasing speed of technological change.  Each of these areas is having a tremendous impact on every aspect of business today, as well as tomorrow, and in combination they are radically re-defining virtually every aspect of every business.  52% of the companies in the Fortune 500 in the year 2000 are no longer there (including acquisitions).  Digital Transformation is a vital read, although with the enormous amount of information the book contains, it can seem encyclopedic at times.

Thomas Siebel compares Jay Gould’ s theory of punctuated equilibrium to the current technological environment.  Gould’s theory of punctuated equilibrium states that rather than a straight gradual progression declared in Darwin’s theory, evolution is not continuous and instead remains in relative equilibrium for long stretches followed by sporadic moments of sudden and massive changes.  These massive changes cause radical disruptions until a new stability (i.e. punctuated equilibrium) is found.  Seibel hypothesizes that the confluence of cloud computing, big data, artificial intelligence and the Internet of Things are in the process of a massive, radically disruptive period for business.

Cloud computing has eliminated many of the monetary aspects of launching a business, and its economic efficiencies have allowed established companies to redirect IT infrastructure budgets towards other aspects thereby increasing overall growth.  Big data along with Artificial Intelligence and the Internet of Things are transforming processes across industries from predictive maintenance to new product development and sophisticated, in-depth understanding of customers.  Predictive maintenance is allowing companies to reduce problems before they occur, rather than rely on less efficient pre-determined maintenance schedules.  With real-time information from the edge, that can be processed in the cloud utilizing artificial intelligence, the possibilities are endless.

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