What Should You Know About Digital Disruption?

“When you’re finished changing, you’re finished.”

– Benjamin Franklin

Today, technology’s advancing faster than ever before, and this produces a interesting byproduct: digital disruption. Simply put, digital disruption results from ever-evolving technologies interrupting traditional business communication methods, value creation, and overall function. Evolving on a moment-to-moment basis, new technology forces the hand of most companies to shift their operations in a way that embraces technological developments while maintaining the flow of their established business practices. Gartner addresses this duality with bimodal IT. [ed. We previously discussed the ramifications of splitting your organization here]

I Still Don’t Get It. Who’s a Leading Digital Disruptor?

Take Uber, for example. Prior to the company’s emergence, the taxi industry had no digital element to it; People merely hailed a cab on the street or called for one. Then, Uber waltzes into the picture with a simple smartphone app that not only enables people to request a ride on demand, but also identifies an Uber driver within—on average—a three-minute proximity to their location1. On top of that, everything is paid for through the app, so there’s no hassle or distraction with cash or credit cards at the end of the ride. To illustrate just how damaging Uber has been on the traditional taxi industry, the largest taxi service in San Francisco, Yellow Cab, recently filed for bankruptcy2.

Okay, I Want to Disrupt Too. What Should I Know?

Uber’s digital foundation may create problems for more traditional industry leaders, but the rising threat of cyber security creates problems for these digitally native organizations. Because of that, it’s estimated that companies will spend more than $650 BILLION on cyber security from 2015-20203. Why so much? According to Business Insider’s premium research service, data breaches nearly doubled from 2011 to 20154. Hackers are using increasingly sophisticated approaches and have begun targeting their attacks more widely — breaching databases ranging from public companies to government entities. There were more than 60,000 cyber attacks on the federal government—one of the most protected cyber spaces—in 2014 alone.5This poses a huge threat to the beating heart of digitally dependent organizations, as they house sensitive information like customer credit card numbers, payment details, and other personally identifiable information like your home address. Among the plethora of security challenges accosting these companies is the development and aggressive use of crypto-ransomware. In layman’s terms, hackers breach a network, encrypt their data in place , and keep the data locked until their demands (usually $$$) are satisfied6.

How do I Balance All of This?

As an IT leader today, you may feel like you’ve been asked to fight a two-front battle on a daily basis: responding to continual digital disruption and smoothly integrating the changes on one front while fielding cyber-attacks and defending your flanks on the other. This calls for immense agility and thorough foresight. One company depicting that very response is Spanish bank BBVA. In late 2015, BBVA bought a 30 percent stake in Atom Bank, the UK’s first digital banking company7. The investment didn’t just secure two seats on Atom’s board; it also opened the door for intimate insight into the functions of a successful digital bank as they shift from traditional retail banking8.

At Apto Solutions we help companies like yours think holistically about your entire product lifecycle — from creation to protection to eventual disposal. While cyber security is increasingly vital, it’s easy to overlook the basics. Proper wiping and disposal of e-waste prevents valuable data from slipping out the back door and nullifying all of your hard work on the front end. Who do you trust to have your back and protect valuable information in your e-waste?

Start thinking differently about your IT lifecycle. Instead of just reacting, we can help you be the disruptor.

  1. http://www.newsweek.com/exclusive-heres-how-long-it-takes-get-uber-acros... ↩︎
  2. http://www.techinsider.io/more-proof-that-uber-is-killing-the-taxi-indus... ↩︎
  3. http://www.businessinsider.com/cybersecurity-report-threats-and-opportunities-2016-3 ↩︎
  4. http://www.businessinsider.com/cybersecurity-report-threats-and-opportunities-2016-3 ↩︎
  5. http://www.experian.com/assets/data-breach/white-papers/2016-experian-data-breach-industry-forecast.pdf ↩︎
  6. http://searchsecurity.techtarget.com/feature/New-cyberthreats-Defending-... ↩︎
  7. http://www.cnbc.com/2016/04/22/digital-disruption-is-shaking-up-banking-... ↩︎
  8. https://www.bbva.com/en/news/general/bbva-invests-in-atom-bank-the-uks-first-mobile-only-bank/ ↩︎
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