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How has technology changed the way businesses work?

The evolution of technology in business set off a chain reaction that changed history forever. The president of Thoughtworks Chris Murphy explains how.

The evolution of technology in business is something that will transcend history.

Over the past 20 years “the world has fundamentally changed”, explains the Thoughtworks president and chief strategy officer- Chris Murphy.

“I think one of the key shifts we are seeing, is how technology is being viewed.”

When the evolution of technology in business was in its infancy, the key play was efficiency.

It revolutionized paper based systems overnight and re-wrote the roles of administrative professionals the world over.

Businesses thought they were privy to what lay ahead. But, in hindsight, had tunnel vision to the sheer potential technology created for the enterprise.

Instead of thinking laterally towards how technology could be revolutionary, businesses were asking the wrong questions:

“How do we use IT and technology to standardize things, to automate things? “

Technology was simply ticking away in the background.

But about “5 years ago” explains Murphy, businesses started to realize what was on the horizon.

Technology became integrated into businesses with an explicit focus on utilizing it to interact with their customers.

It handed businesses the ability to react dynamically and respond positively to internal and external changes.

The evolution of technology in business gained real headway with the emergence of cloud computing, because rather than troubling themselves with computer infrastructure- the virtues of information based organizations showed their worth.

Everyone jumped on the bandwagon, the bar was raised, and there was a ubiquitous recognition that in order to sustain competitiveness, companies needed to provide and deploy consistent levels of customer service across all channels. Anytime, anywhere.

“But this was still very much an add on, and adjunct to traditional businesses…they also had a digital business. A digital play. The real shift we have seen in recent years, is that this has now moved to the next progression. Technology and software…is the business. It’s the key enabler and means…of having an impact on the world.”

The result has been what you see today. And in the video above, Murphy explains how this shift has influenced industries more specifically.