Incumbent industries have been significantly affected by new technologies. They have changed from the way companies operate to the way they design products and provide services. As companies are now using more digital channels to reach customers, there has been a massive job disruption.
The digital transition has made many employees lose their jobs. As their skills have become obsolete, and their roles are no longer required, they had to adapt. According to a study made by the Brookings Institution, more than 25 percent of jobs in the US are being disrupted due to automation.
If you’re concerned about losing your job, but you don’t know what to do, here are some ways new technologies are affecting incumbent industries. This article will help you identify what you need to stay relevant and how industries are being affected.