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Chapter 1

Technological revolution

The twentieth century has brought a technological revolution that has been changing the way we work, communicate, learn, and in general how we live. New products and services are transforming business and social circles, changing customer demand, and bringing major changes in all industries.

These changes have been happening over the last decades, and we do not know yet how they will unfold, but for sure one thing is clear: we need to adapt and exploit the benefits of the digital revolution. Not all benefits come from simply adopting technology, but more so from adopting them. Adapting to new processes takes time, much like introducing driverless cars, replacing traditional print with digital, changing from banks to the blockchain, moving physical storage to virtual storage, and more. It also takes time before growth in output accelerates and companies start to visibly see results. These new technologies benefit companies mostly by enabling them to increase productivity and efficiency, decrease costs, create new opportunities and have a better impact on the market. Nowadays, having a digital presence is one of them, or most, fundamental parts of running a business. Most successful industrial companies have already become true digital enterprises with innovative products and services, and digital interfaces.