With an increasingly digitised society, and increasingly digital tools, the digital death sentence is looming over businesses.
A new report by IT consultancy Astir IT Solutions suggests it could be an “existential risk”.
It warns that the “world has never experienced such an acute and pervasive digital death, with the potential to impact business, social and civic life”.
It is not just about losing business, it is also about the risk of the “death of the internet”.
The report, “The Death of the Internet: A Cyber Security Threat”, highlights the increasing need for a robust, high-level digital strategy.
“The internet is now a global platform, and its capabilities have grown exponentially, especially for business,” said co-author and senior lecturer at the University of NSW, Andrew Sillitoe.
“Businesses can now use cloud services, social media, cloud storage, virtualisation and IoT (Internet of Things) to enable better digital management, customer service, and collaboration.”
But the report points out that the internet also presents the threat of “a digital death”.
It highlights the importance of an agile, flexible and agile digital strategy that “is based on the principles of agile, fluid and responsive teams, rapid delivery, quality, agility, and resilience”.
“Digital death is an existential threat to businesses because it will not be confined to specific business areas, but could potentially affect all businesses in the future,” it states.
“If we do not adapt, we risk becoming a victim of the digital ecosystem and its consequences.”
“A digital death means the loss of the ability to make the business value-added services available in an affordable way,” said the report’s author, Andrew O’Brien, a lecturer at NSW’s Curtin University.
“A business will be unable to maintain the agility and agility required to attract, retain and grow its talent, to attract and retain and generate revenues, to operate efficiently and to maintain and upgrade its business operations.”
Digital death “A loss of agility and resilience is a threat to the business, and it is a risk that must be taken seriously,” Mr O’Brien said.
“It is not simply about losing one or two people.
It is a death sentence.”
Digital disruption “The digital ecosystem has been a significant driver of business growth over the last three decades, but as the number of transactions grows, the need for digital assets to be secure and reliable grows,” Mr Sillioe said.
Businesses must learn to “learn to live with the consequences of the demise of the cloud, to adapt to the increasing digital landscape and to understand how to adapt.”
“Digital transformation is not a new thing, it has been going on for decades,” Mr Cappo said.
But he said that digital death would have a “tangible impact on businesses”.
“The death of the economy is not new,” he said.
He said businesses had “learned how to survive” and had “decided to adapt”.
“It’s important that businesses are aware of this potential and understand how they will adapt.”
Businesses need to consider how they can be resilient to the threat, he said, to ensure that “the business is prepared for the disruption of the future”.
A business should be prepared for a digital death “The loss of flexibility and agility in a digital environment is going to create a whole host of challenges that need to be considered and managed,” Mr Daley said.
The report warns that a “digital death” would mean that “companies will be forced to focus on an increasingly fragmented, fragmented world, which is less likely to support the continued success of their businesses”.
It calls for “a holistic strategy that addresses the changing requirements and expectations of businesses” and is “inclusive of all stakeholders”.
It recommends “a focus on the following: 1) A strategic and business-oriented approach to digital disruption, that includes a holistic approach to business and technology, 2) a holistic view of the requirements and needs of businesses in their digital future, 3) a broad-based strategy for digital transformation across industries, and 4) a more agile and flexible approach to the delivery of digital services and digital products.”
The report’s findings are based on a “research paper” Mr OBrien published with the Centre for the Study of the Digital Economy at the NSW Institute of Technology.
The paper was “examined in depth by the Australian Information Technology Industry Association and the Australian Digital Media Association to produce a comprehensive analysis of the potential impact of a digital demise on the digital economy,” it said.
It found that: “A death of an IT industry could have serious consequences for businesses and their customers.
Business services and IT solutions have increased by over 200 per cent over the past two decades, with an expected annual growth rate of more than 30 per cent.”
The impact of this growth on the industry is likely to be significant.
“As the digital age continues to develop, businesses and customers will have to adapt