In the year 2000, the popular video rental chain, Blockbuster, was approached with a proposal to buy the DVD-by-mail service company, Netflix. Blockbuster famously declined the offer. Fast forward to later years, all but one of Blockbuster’s stores were shut down. Meanwhile, Netflix pioneered online media streaming and grew to be the number one streaming service in the world.

Blockbuster’s’ tale is a poignant reminder of the real impacts of outdated technology. As we turn to the next digital transformation, largely driven by artificial intelligence (AI), consider the lesson learned from Blockbuster: competitive advantage comes from leveraging up-to-date technology.

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SOURCE DLL