Corporations are at risk of bankruptcy from disruptive technologies, says Oracle spokesperson.
In the list of Fortune 500 companies in 2000, 52% have either gone bankrupt, been acquired or ceased to exist.
Neil Sholay, senior director of products and industries, EMEA at Oracle, says that in most cases, this has happened owing to digital disruption of their existing business model.
Digital disruption is the use of a new technology, or technology-based business model, to affect an existing business or product.
“Probably the most famous examples are when Netflix entered the video streaming market and destroyed Blockbuster in the process, or when Uber entered the taxi market globally and severely affected local providers,”
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