ReBlog: Innovation: Increased competition from unexpected places

digital_disruptionViFX recently hosted a round table event with a bunch of IT participants from different business lines and sectors. Some of the insights were interesting. Increasingly we see the “disruptive” (that word is becoming cliche isn’t it?) business models reaching across different sectors.

In very competitive markets, organisations, in their quest for additional channels of revenue, are looking to complement their core services and are increasingly blurring the industry boundary lines.

From our participants we heard the following:

Banking Industry – Experiencing increased competition from online auction sites that are now branching into real-estate and mortgages.

Tertiary Education Sector – Are now not only competing against traditional local institutes, but also an increasing number of online institutions offering global, web-delivered content (sometimes for free).

Telecommunications Industry – Customers are demanding more bandwidth and want new content services – just in order to retain their business.

Transport Sector – Facing imminent threats from near-term-horizon technologies like autonomous vehicles (e.g. driverless trucks).

For the full blog click here

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