(Yicai Global) Dec. 16 -- "Forty percent of the Fortune 500 corporations will disappear in 10 years," declared Huang Chenhong, president of Dell China Co., at the recent Dell Technology Summit.
He argued that 'digitalization' is reshaping traditional businesses, and this is just the beginning.
With the internet and digitalization, mankind's innovation ability will continue to improve, with very low technical barriers, said Huang. On the other hand, innovated products, solutions and business models will have very short lifecycles. Due to advances driven by digitalization, many uncertainties will exist throughout society, Huang said.
A century ago, he added, the average lifespan of Fortune 500 companies was 67 years. This has dropped to 15 years today. Internet companies and leaders in traditional industries are each other's rivals, but they cannot tell who their competitors are. Ubiquitous digitalization in different industries has brought us to a crossroads, Huang said.
If a company remains subpar in digitalization operations, it will have only two options after three years -- one is elimination, and the other is business transformation, Huang noted.