‘Embrace digital revolution or be the next Sears’

Embracing technology

Embracing technology, file photo

by DION HENRICK
CAPE TOWN, (CAJ News) COMPANIES must constantly adapt with the times and evolve with technology or face collapse like the beleaguered Sears, the biggest and most successful American retailer of its time.

This is according to a South African innovator, data scientist and
industry executive as the US company continues its free-fall.

Formally known as Sears, Roebuck and Company, it is recognised across the globe for being the disruptive force of the 19th century which ultimately taught Americans how to shop.

The once thriving business is in disarray. It entered bankruptcy in
October, at a time as disruptive innovations built around the needs of a technology- and convenience-driven world take hold.

Vian Chinner, the innovator, data expert and entrepreneur, said Sears was the first retailer to provide consumers convenient access to goods at fixed prices.

Sears adapted to the second industrial revolution at a far faster pace
than its competitors, taking advantage of – and building on – new
infrastructure like railways, the printing press and the telegram,” said Chinner, who is also Chief Executive Officer of Xineoh, the machine learning company specialising in consumer behaviour prediction.

He said the company pushed competitors out of business and grew at an incredible pace but where its evolution came to an end, it did not fully embrace the potential presented by the third industrial revolution or computer age.

“It’s application of new world technology started and ended with the
introduction of a website and, with the rise of tech-focused retail giants like Amazon, Sears was left behind in the dark ages,” said Chinner.

Chinner emphasised that modern day businesses which have survived the computer age are at risk of falling behind and beginning their own decline if they do not look to evolve with the innovations of the current, fourth industrial revolution or digital age.

He hailed artificial intelligence as the most disruptive technology of
this age but some businesses were adopting it for the sake of it than
truly incorporating the data-centric approach in their operations and
shifting their operations to optimise the opportunities it presents.

“Don’t get left behind, don’t let your business become the next Sears,” Chinner concluded.

– CAJ News

Short URL: http://cajnewsafrica.com/?p=29039

Posted by on Dec 6 2018. Filed under Broadband, Cloud Computing, Finance, Finance & Banking, Governance, Technology. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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