How to stay current on technology that affects your business
- Rapidly moving technological changes destroys even long and successful business models today.
- Robots are not subject to the burden rate. (CPP, UI, WSIB, Group Benefits, Vacation Pay)
- Robots are not absent due to illness or family challenges.
- Robots replace many jobs that create repetitive strain injuries eliminating costly WSIB claims.
- Software is more efficient at discovering key clauses replacing associate lawyers for this task.
- Cable companies threatened by on demand, internet entertainment delivery businesses and are scrambling to adjust their business model.
- This list could go on and on.
- Technology today is unprecedented in its threat to business models when compared to even 5 years ago.
- The only permanent thing in life – is change!
A business should not jump on groundbreaking technology. However, a thoughtful business leader should conduct an annual review of technology that affects their business model for assessment. If the expertise to conduct this review is not available within the business – seek competent outside help.
