Half of UK business leaders think their industries will face significant digital disruption within the next two years, according to new research published by Microsoft today.
According to Microsoft’s ‘Digital Transformation: The Age of Innocence, Inertia or Innovation?’ study, which surveyed 1,000 business leaders in the UK, the threat is most keenly felt in the financial services.
Some 33% of incumbents in the financial services, the study adds, are anxious about the entry of new disruptors in the sector. Despite this, the study notes, that the percentage is still considerably low bearing in mind the extent of the threat coming from the FinTech community and emerging technologies such as blockchain.
In the past, financial services organisations may have been able to acquire disruptors in order to counter the threat they posed, but the study claims this is no longer possible....