Digital disruption is a transformation that is caused by emerging digital technologies and business models.
Despite its rather unsettling name, digital disruption presents us with a positive opportunity to do things in different and potentially more efficient ways.
‘Disruption’ simply refers to the break from existing or traditional approaches to business; the emergence of better alternatives and opportune changes brought about via new technology.
It effect changes the fundamental expectations and behaviours in a culture, market, industry or process that is caused by, or expressed through, digital capabilities, channels or assets.
In the digital age, disruption usually comes from new internet-enabled business models that are shaking up established industry structures.
Businesses, government agencies and even NGOs are being forced to adopt these new operating practices, or face going out of business.
It also reminds us of the urgent need to upskill in new technologies in the digital age.
Today, the work process is undergoing a drastic change due to technology enhancement, demographic shifts and globalisation. Upskilling then, becomes necessary to deal with the impact on IT and avoid a gap between the skills and the organisation’s needs.
According to a 2019 Hays Asia Salary Guide, 65 percent of organisations in the Asia Pacific are restructuring to keep up with changing business needs with 62 percent of organisations addressing these skills shortages by upskilling their current workforce.
Upskilling, mean giving the employees opportunities to gain the knowledge, tools and ability they need to use advanced and ever-changing technologies in the workplace and their daily lives.
Upskilling experience involves learning how to think, act and thrive in a digital world that is sustainable over time.
A failure to anticipate qualifications, knowledge and skills requirements endangers sustainable development and wastes human, social and financial capital.
Upskilling is highly powerful but must be executed with the right strategy, correct execution strategy, supportive regulatory frameworks and a vibrant job market.
