Here comes the disruptive factor: Industries that underwent disruption

Global Disruptions

- Sowmya Raju

A report by the World Economic Forum elucidating digital enterprise narratives defines digitalization as the cause of large-scale transformations witnessed across multiple aspects of businesses that open doors to various opportunities for value creation and capture. Business leaders across all sectors are comprehending the strategic implications of these transformations for their organizations, industry ecosystems, and society. The trend is already transforming companies and industries worldwide.

The ongoing pandemic is cited to be a driver of digitization trends in workplaces and organizations. However, even before the pandemic, disruptive trends were growing in popularity. For instance, a survey from Russell Reynolds Associates, 2015, highlighted those domains where respondents expected disruption to majorly alter the status quo in their organizations by 2016.

Here are some of those industries, who are among the top ones disrupted by the disruption wave.

HEALTHCARE

Digital disruption has a direct impact on hospitals, doctors' offices, and pharmacies. In the healthcare business, technological developments have enabled more customized and immediate care. In the first half of 2019, $4.2 billion was invested in digital health, according to Rock Health. According to a nationwide consumer study, 89 percent of people utilize at least one digital healthcare product.