ABSTRACT
The evolution of digital technologies has had a profound impact on industry and services, optimising efficiencies, speeding up information sharing, and automating processes. One of the paradigm shifts of the last decade has been the introduction of the platform business model that has caused massive disruption across multiple industries. This new phenomenon has pushed businesses into redesigning their strategy, and has enabled economies of scale for several smaller business units. In this chapter we identify some of the key sectors disrupted by digital platforms and provide some examples. Then we identify some of the key characteristics and elements of a digital platform, identifying the different layers of a digital platform. We also identify some of the key strategies for successfully implementing a platform business model. Finally, we identify some of the key characteristics that make a particular business sector easier to be disrupted than others. Finally, we conclude by discussing about the limitations of existing platforms and new paradigms that could be seen in digital platforms over the coming years.
