Conference Theme “Transforming Business to the Future”–2

We have witnessed drastic changes in economies, societies, and technologies due to the globalization, social structure, and digital transformation and disruption over decades. In fact, digitalization has changed the nature of business and led to the birth of many successful business platforms like Airbnb and Uber. The well-established firms are facing challenges and pressure from their competitors and start-ups that have adapted to the digital economy. Many disruptive technologies such as Artificial Intelligence, Big Data Analytics, Internet of Things (IoT), Social Media, 3D & 4D printing, Cloud Technologies, Blockchain, and Robotics are the great examples that have significantly influenced processes, products and services, and business models. Thus, it is not surprised that John Chambers, the retired Cisco CEO, predicted that “40% of companies will be dead in 10 years; even though 70% of companies would attempt to go digital but only 30% of those would succeed” (Bort, 2015). Meanwhile, Gartner, Inc., the leading research and advisory company, released the results of Top Strategic Predictions for 2018 and Beyond that, “by 2020, 5 of top 7 digital giants such as Amazon, Apple, Facebook, and Google will willfully self-disrupt to create their next leadership opportunity and IoT technology will be in 95% of electronics for new product designs” (Panetta, 2017).