The age of Industrial Revolution 4 is upon us, and evidence is rapidly piling up to show that businesses that do not adapt get left in the dust. The old, single-use tools and labor-based methods of Industrial Revolution 3 that businesses useare no longer as effective, leaving workers to be marginalized and replaced as technology takes over what we knew. To succeed, businesses need to reorient themselves and make the switch to Industrial Revolution 4.
The new consumer experience is here, and it’s moving faster than you think. In 2000, Blockbuster was at the top of the video rental industry. By 2010, the company went bankrupt. The reason? They laughed Netflix out of the office when Netflix proposed an internet-based partnership. Netflix was an early adopter of the fourth Industrial Revolution, and now it sits as a multibillion-dollar company.