The European Path of Digital Transformation
The world is currently going through a so-called technology shock. The digitalization as the trigger redefines the parameters of economic action and changes whole societies. The drivers of our global economic system deal with it in different ways. The Silicon Valley model from the USA is based on creative destruction, i.e. digital platforms with a global reach are emerging in competition with established companies. The Chinese model, on the other hand, is based on a domestic market massively protected by the state and is currently proving to be particularly competitive in economic terms. The distribution of Fortune 500 companies shows significant growth, especially in Asia, while the number is declining in the USA. A shift to the East can also be seen in technological competence, including standards.
How do Germany and Europe move between these two dominant digital models? There are signs that a "European path" of its own is developing. In our view, cutting-edge technology and leapfrog innovation, originally the foundations of our established industry, are once again the key competencies in which we must invest all our resources. The "European Approach" requires ecosystems and a digital reengineering of established businesses for global relevance.
Our customers and business partners also confirmed this orientation at the premiere of the Detecon Red Carpet Event in September 2018. We have compiled the essence of this "European Path" for you in the magazine Rebuilding Europe.