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Home » Why Business Leaders Must Embrace Technology-Driven Change
CXO Minute

Why Business Leaders Must Embrace Technology-Driven Change

Tony UphoffBy Tony UphoffApril 24, 2023Updated:April 24, 20232 Mins Read
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AE Leadership

In episode 74 of the Leadership Minute, Tony Uphoff explains why business leaders need to be prepared for, and embrace, change, particularly the kinds of disruptions generated by technology.

To hear practitioner and platform insights on how solutions such as ChatGPT will impact the future of work, customer experience, data strategy, and cybersecurity, make sure to register for your on-demand pass to Acceleration Economy’s Generative AI Digital Summit.

Highlights

00:14 — Tony cites the work of computer scientist Ray Kurzweil, who said that technological change accelerates every decade, meaning that in 20 years, the rate of change will be four times what it is today, and we will see 20,000 years of change this century. Dealing with change is a forcing function that requires a reaction, and how you react to change can be the difference between success and failure.

01:13 — Embracing change can dramatically alter the fortunes of companies and entire industries, says Tony. Business leaders must understand and prepare for the disruptive power of technology to thrive in periods of rapid transformation. From 2003 to 2007, Tony was president of CMP Media, which at that time owned The Hollywood Reporter. While there, Tony saw that the entertainment industry was about to be disrupted by technology and that it was totally unprepared for it.

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02:11 — For example, video rental chain Blockbuster failed to recognize the impact of technological change and turned down an offer to buy Netflix. In 2005, streaming was not yet viable, but Netflix recognized that technological limitations would soon be overcome. By 2010, Blockbuster filed for bankruptcy while Netflix thrived. Failure to recognize changes taking place can lead to the disruption of entire industries.

04:11 — Business leaders must embrace change in order to survive and thrive in the face of accelerating technological progress. The current period of change is comparable to the latter part of the aughts, when technological advances ushered in a revolutionary series of changes in entertainment and most other industries.


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Tony Uphoff

CEO
Pipeline360

Areas of Expertise
  • AI
  • Board Strategy
  • Cloud
  • LinkedIn

Bringing his experiences as a 5x CEO, Tony provides a leadership analyst perspective to Cloud Wars. He’s an award-winning technology, data, digital media and marketing services executive specializing in transformative leadership of companies, cultures, people, and organizational performance. As an industry thought leader and an expert on the digital industrial economy, Tony is regularly quoted in The Wall Street Journal, Forbes, Business Insider, and other top media brands. He advises senior management and boards of media, marketing, and technology companies as the CEO and founder of Uphoff Management Advisory, LLC. He serves as a Trustee of Linfield University and a mentor at MuckerLabs accelerator. Additionally, Tony has been a Senior Advisor to the CEO and executive team at Xometry, a publicly traded, on-demand manufacturing marketplace. In December 2021, he led the turnaround, growth, and successful sale of Thomasnet.com to Xometry for $300 million.

  Contact Tony Uphoff ...

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