article The internet is rapidly transforming how people communicate with each other, and the industry’s leaders are racing to figure out how to make that happen.
Industry experts say the internet has changed the way we think about business and how people do business, but they also point out that it has not changed the core business model of the company: a single customer, a single source of information.
“If you’re an enterprise or a consumer, the information services industry is not going away,” said Jim McAlpine, chief information officer at digital advertising agency WPP.
“The industry’s growth is driven by the ability to deliver this information, and that’s the key.
The problem is that the internet is changing how you do business.”
It’s a different world for most people in the industry, said Michael Ahern, CEO of software company Accenture.
“People have always been more content to buy information from a trusted source,” he said.
“That’s the reason I do this as a consultant, to understand how people use technology, how they use technology to get information.”
But Ahern is also wary of the industry becoming an industry in its own right, with new technologies making it easier to track and target users, and new data sources that can be used to track more people.
“It’s going to become a lot harder for the traditional business model to survive,” he warned.
“It’s an opportunity for new and old businesses to combine their strengths,” said McAlpin.
“The information services sector is in an exciting phase right now,” said Patrick Tamblyn, president of the US-based Information Services Industry Association.
“There’s a lot of promise for the future.”
What’s Next for the Information Services Economy?
According to industry leaders, there are many more opportunities in the information service industry, with more than 40 percent of the global economy at risk from disruption.
In the next three to five years, we’re seeing a lot more of this emerging, said Ahern.
“We’re going to see a lot less traditional businesses going out of business.”
McAlpine thinks that’s a good thing, and it’s the right time for the industry to take a chance.
“For the past 30 years, information services have been the bread and butter of the American economy,” he explained.
“But the last 30 years has seen the rise of social media, online retailing, and artificial intelligence.
We’re now entering a very different era where information is so much more important than ever.”
According to McAlpones, it’s time to embrace technology that can help people deliver better information and services.
“What’s exciting is the new platforms that are available to us today,” he added.
“A lot of these are going to be part of the future of information services, not just for consumers, but for businesses.”
For more information, see the top 10 trends that will affect the future in the Information Service Industry article