creative destruction

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Creative Destruction

A concept in capitalist theory stating that innovation causes failure, but that failure, in turn, creates more innovation. For example, suppose someone invents a better widget. If he/she markets this widget effectively, he/she will eventually drive all previous widget manufacturers out of business. However, this forces older widget manufacturers to create their own innovations that will either keep themselves in business or improve their financial situations in other ways. This is considered one of the most important concepts in capitalism.
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creative destruction

Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
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But the issue of digital disruption is a big reality, especially AI (artificial intelligence) or IA (intelligent automation).
"Both companies thrive on creativity; SDI deliver it through the latest techniques, finishes and the technology it builds into its displays and visual merchandise, whereas our team of specialists can provide the digital disruption.
This demonstrates a clear commitment by SSA to help our members and the industry chart a sustainable path forward--embracing the challenges and seizing the opportunities--in the age of digital disruption," Ms.
Although seeming to have a negative connotation, digital disruption within the field of media and education can benefit students and provide more access to learning.
Oputa, in his paper titled, 'The Future of Out of Home Advertising in the face of Digital Disruption,' submitted that since clients in the sub-sector were becoming increasingly sophisticated and demanding, practitioners in the industry, had no option than to make the sector technology-driven to be able to meet the ever-increasing demands of such clients.
He said Malaysia, however, is aware that the technology will pose a risk of digital disruption, causing loss of jobs in traditional sectors with many of these jobs not replaced by new ones.
He said: "FinTech Awards Wales will recognise the people who are at the centre of Wales' digital disruption, and the innovators who are breaking new ground in the finance sector.
The economist (who confessed to an infatuation with technical analysis, despite his training as an academic economist, during the evening's presentation to investors) confirms that topics such as cybersecurity feature within what the bank describes as the investment theme of digital disruption. However, his view is leaning to active investing strategies and he would refrain from passive or static approaches when it comes to the sector.
NBP President also emphasized that digital disruption was shaping the future of banking in Pakistan and management is fully cognizant of future banking needs.
CRM magazine: Can you talk about decoupling and the pattern of digital disruption?
Synopsis: There is a pattern to digital disruption in an industry, whether the disruptor is Uber, Airbnb, Dollar Shave Club, Pillpack or one of countless other startups that have stolen large portions of market share from industry leaders, often in a matter of a few years.

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