The Digital Age, 4th Industrial Revolution

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A Call to Action : The Approaching Perfect Storm

Long before others started talking Digital Transformation, The Augmented Consulting Group has been researching, analyzing and informing about the need for Trinidad and Tobago to engage in the concept of the Digital Economy as a means of socio-economic transformation. 

It’s commendable some are attempting to engage in the conversation on The Digital Economy, but the digital transformation is not about software, it’s about the country and and its economy and how it can engage and embrace the creation of wealth in ways more significant that any in the history of the world. 

Augmented Consulting was meant to guide business and society in the transformation because it simply has within its ranks, a far higher goal than selling software, to put it bluntly. 

This is a call to action to Trinidad and Tobago to move wholeheartedly into the Digital Economy as a means of economic sustainability. The horizon is displaying signs of a perfect storm in the making. The massiveness of this storm is unprecedented, and it seems to be a destructive force I can only imagine similar to that of a tsunami. A tsunami, like the Japan tsunami recently, and like others before it, destroys everything in its path and clears it out when the water recedes. The approaching perfect storm of 3D Printing will do just that. This tsunami in 3D Printing, has a precedence, a forewarning of sorts, in the classic case of destruction of Kodak. Kodak, invented the digital technology of the digital camera, yet it did nothing with it or about it, and that same digital technology it invented, destroyed it.

What is 3D Printing

3D Printing is a form of manufacturing known as additive manufacturing. It is a form capable of zero wastage in the production of a good or service. What this means is huge cost benefits to the organization, corporate or sole. But that is not the real disruption because a company can purchase or create a 3D printer for its own use, in which case it can become very profitable. Had Kodak used the digital technology which it invented, it would have been able to mass produce digital cameras, capture the market as a first mover, and move on to others areas in digital technology, especially in content management platforms. In other words, it could have been still in existence had it engaged in deep vision-driven strategic thinking, planning and execution. The digital camera moved the control of markets into the hands of the consumer, and had the company taken decisive action, it would have moved to a new business model, where it could still have been in control, but it would not have owned any digital camera. Facebook is the biggest online platform but it diensnt own the internet, Uber has become the biggest provider of taxi services, globally, but it doesn’t own a single taxi, and Airbnb owns the online space for room reservations, but it doesn’t own one single hotel.

Had Kodak immersed itself into the digital world, only ones imagination can conjure what could have happened with a cogent, strategic, digital transformation strategy. 

The real threat to the traditional manufacturing is when 3D printers becomes cheaply available as an appliance in the home or as portable as the digital camera of old, or the smartphone digital camera. When 3D printers become as available and affordable as a smartphone, it will anihilate traditional manufacturing as we know it. Everyone will become a manufacturer, just as everyone is now a photographer or video maker. The the focus of traditional manufacturing companies will change.

Deep-visioned Strategic Thinking, Planning and Execution is now an imperative for all borganuzations, profit or non-profit. 

In this present economic environment in Trinidad and Tobago, it is critical that companies engage the global digital economy for acquiring wealth and income generation. The Internet has brought the world markets into our homes, it’s up to us to create new wealth and new opportunities in ths the Fourth Industrial Revolution, The Digital Age.

Business and society cannot resist this impending change. The key to survivability and sustainability is to start now.

In this call to action, Augmented Consulting is calling on you to start the transformation process. Augmented will guide your journey into the future! 

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