Change is the only constant. Have you thought about the types of changes we are experiencing now? Is it evolutionary, transformational or even the coming of a revolution?

Author: Mad Meier, Fintechrocker

• Evolution – the gradual development or formation of
• Transformation – a dramatic change of state of being
• Revolution – a dramatic and wide-reaching change in conditions, attitudes, or current establishment

Today many use the term ‘digital transformation‘ to mean the transformation of the current state into a state which is digital in its core. A state where information is continuously collected, exchanged and analyzed allowing to create smart and interconnected products which adapt and learn.

Some refer to the ‘4th industrial revolution‘ and mean a fundamental and wide reaching change affecting the life of all of us, the society and its values. What happens when smart machines perform the work and humans have time? Do we then focus on our intrinsic motivation? It is clear that many of the paradigms and trained thinking patterns we are used to immediately become invalid.

If you look around and open up your mind – enabling you to notice what you belief is possible – thus you then sense that we are probably quite close to a revolution where many things we consider as naturally given today will be replaced by a new normal.

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  Start by looking at a one example: self-driving electric cars and its implications. Soon we will transition from car ownership to co-sharing where you pay per use via a simply request which matches your current needs. There is no need for personal parking spaces or garages;

  With connected self driving cars, there will be substantially transformation of current governance and road infrastructure, less cars and accidents; insurances business model will need to be different.

• Other additional examples to ponder upon such as the increase in automation or the on-demand replication of goods and imagine how the implications of these scenarios interfere and influence each other.

The changes are combinatorial and the consequences are profound and complex. They will most likely happen much faster than expected once its trigger point is reached.

Are we really in a transformation or at the beginning of a revolution? Are you ready for the change? Are we ready for the change? Is your company making the future happen or busy running a red queen’s race?

Change happens …. change is happening …. progress in optional

This article first appeared on finthinkers.blog, Featured image via finthinkers.blog