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Five industries under threat from creative destruction
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28th December 2016
A superb piece here from the Financial Times focuses on five industries where revenues, profits and jobs are under threat from creative destruction.
Disrupter: Online travel platforms
- Industry threatened: High-street travel agents
- Reason why: More travellers booking online
Disrupter: 3D (Additive) Printing
- Industry threatened: Small component manufacturers and distributors
- Reason why: Growing use of on-site 3D printing to make parts
Disrupter: Driverless cars
- Industry threatened: Motor insurers
- Reason why: Fewer vehicle collisions with increased use of driverless cars
Disrupter: ‘Robo-adviser’ websites
- Industry threatened: Financial advisers
- Reason why: Growth of automated financial advice websites and tougher regulation
Disrupter: Electric vehicles
- Industry threatened: Car repair garages
- Reason why: More drivers switching to low-maintenance electric cars
More here from the Harvard Business Review (September 2016)
The Businesses That Platforms Are Actually Disrupting
This is also worth reading: Mark Mardell (BBC) on The Rise of the Robots
People often fight progress because growth is creative destruction. The rise of portable computers & printers ended the need for typewriters
— Retired Nigerian (@Dolarpo) December 17, 2016
Uber halts California self-driving cars test - BBC News | @scoopit https://t.co/5hCrxfQkI6 #self-drivingcars #creativedestruction @Uber
— Graham Watson (@1973GJWEcon) December 22, 2016
Only 1 of the original (1896) 12 $DJX companies is still on it (GE) - a testament to American creative destruction https://t.co/zoex2DXh6A
— Scott Lincicome (@scottlincicome) December 20, 2016
If you want a contrasting perspective, in this video, Professor David Autor from MIT gives a TEDx talk on why technology has not made human labour obsolete:
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