Digital connectivity revolution
A global techno-social revolution is radically increasing the expectations and latent power of individuals, stakeholder groups and private enterprise. This composite mega-trend comprises important themes of urbanization, informational empowerment, decentralization, disintermediation, mobility and flexibility. The trend is enabling stakeholders to share ideas and information more directly – and make decisions – about the issues that most affect them.
Digital innovation, including the growth of Big Data and the emerging Internet of Things (‘IoT’) is both a result of this trend and now the main driver of it. It is a disruptive trend which is removing barriers, boundaries, rules, restrictions, hierarchies and bureaucracy. The trend has profound implications for the cost structure, productivity and efficiency of the resources and infrastructure industries, bringing both challenges and opportunities to existing institutions and businesses.