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They reinforce existing business models and preserve the global status quo".
"Technology can create enormous bounty," Brynjolfsson wrote, "but the road to abundance may be very rocky as existing business models and ways of creating value are disrupted".
But the real question is not whether banks start using new technology but how they incorporate it into their existing business models to create value.
We will need to re-examine and reshape many of our existing business models if we are to continue to be successful.
But consumer electronics and media companies have been moving toward that combination with painstaking caution, both because of technical limitations and to protect their existing business models.
"The rate of change and possibility that a new idea could come along and undercut existing business models is always going to be a risk," he said.
Similar(11)
Both utilize the allure of celebrities, and both have altered the existing business model.
"We're not trying to fit into an existing business model," Brin said.
It is this activity, of course, that poses the real threat to the existing business model of cable and satellite television providers.
"Volvo believes the insurance industry will have no choice but to react to these seismic challenges to its existing business model by fundamentally restructuring – or face competition from new entrants into its market from technology-savvy disrupting companies," said Samuelsson.
The publishing industry, as well as some scholarly groups, have opposed some forms of open access, contending that free distribution of scholarly articles would ultimately eat away at journals' value and wreck the existing business model.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com