Intel’s downfall serves as another reminder that to be in a race, you need to adapt, remain resilient, and change quickly in response to the market forces.
One of the critical things we often forget is the need for continuous learning and innovation. Today, when change is happening quicker than ever, not adapting means you’re running out of time.
As a CIO, who better than you to understand the constant challenge of creating innovative business models and leveraging technology to shape a better future — one that enables businesses to identify new opportunities, reach customers more effectively, and strengthen operations? The real challenge isn’t change or our ability to adapt but our resistance and hesitation to keep up — whether in strategy or technology.
For instance, once a dominant force in the semiconductor industry, Intel has recently faced a sharp decline in revenues. The California-based technology giant, known for designing, manufacturing, and selling computer components for business and consumer markets, is now on the brink of a significant downturn, similar to Nokia’s dramatic collapse post-2007.
I remember working for one of India’s leading telecom publications at that time. Analysts and journalists would question Nokia about the delay in launching dual-SIM phones during press conferences. Nokia executives routinely replied, “We are Nokia; we don’t need to rely on dual-SIM technology to remain the frontrunner.” Confidence is essential, but there’s a thin line between confidence and arrogance, which can close your eyes to the changes around you. What happened after that I don’t need to tell.
Similarly, Intel needs help with delays in transitioning to smaller manufacturing processes. Specifically, its difficulties in moving from 10nm to 7nm chip production allowed competitors like AMD, Apple, and others to outshine Intel in process technology. These delays fractured the company’s ability to launch innovative products on time, causing them to miss the bus. Only time will tell if the company will be out of the woods anytime soon, but this serves as another reminder that to be in a race, you need to adapt, remain resilient, and change quickly in response to the market forces.