Modupe, one of the leading lights in Nigeria’s PR practice, and a key note speaker at the 2019 edition of Brandcomfest in Onikan-Lagos on Thursday, explained that “the future will be service driven as no one will own anything.”
In no distant future, Modupe who spoke on Digital Disruption and the Future of Public Relations Practice, noted material possession will have a little significance in today’s global market as real-time lending equips us with the many benefits of ownership.
“Uber doesn't own any vehicle, Airbnb doesn't own any real estate. Facebook, as the world’s most popular social platform, almost creates no content. Ali baba, as the world’s most valuable retailer, has no inventory,” he said.
Quoting Clayton Christensen who described disruptive innovation as a technology or concept whose application significantly affects traditional market or industry functions, Modupe maintained that Disruptive innovation is like a virus which does not happen suddenly, but surely will change the ways things are done
“An example is how the internet as a disruptive innovation has caused the remodelling of the book selling industry. All the big book selling chains market share have been swallowed by Amazon because without having to own brick and mortar stores, it can display its inventory,” he said.
He also pointed out other dimensions of Disruptive innovation to include a process by which a product, service or culture takes root slowly and is sometimes ignored but relentlessly climb up to displace tradition, citing the local example of Cowbell versus Peak Milk.