The competitive landscape is changing, quickly. We use great tools to keep our finger on the pulse. Michael Porter defined this landscape as existing and potential competitors as well as the threat of substitutes. This is no longer sufficient.
The pace of change in technology is creating intersection points. Technology is linking industries, customers and products in new ways. This is happening faster than ever before.
Disruption. This is what we call new competition popping up in places we weren’t looking. To prepare for these new realities we need to monitor these nexus points.
Where biotech meets AI and robotics and quantum computing. One smart company getting this right. All Nippon Airways, an airline investing in avatar development.
To stay on top of potential substitutes we have to understand our customer pain points better than ever before.
This is a good thing.