It makes sense doesn’t it: why would you waste your time going to a music shop when you can buy instantly and cheaper online? And why would you buy a whole CD when you can buy your selected tunes individually? Why would you waste your time and money by renting a DVD when you can quickly and cheaply download a movie onto your media player?

Some of the obvious future victims are hard copy newspapers and books, data and information transfer and passive retail, that is, retail items that are not the subject of fashion size. For instance, I needed to buy some batteries for our home security system. I wasted time and the cost of petrol looking to find a store that stocked them but without success. I then went on-line, found the product, purchased on-line and they will be delivered in 3 days’ time – easy!!

On the one hand you could take a negative and pessimistic view of all this rapid and dramatic change. But when you think about the changes that have occurred over the past couple of generations, it has been truly remarkable. I recall attending a keynote address by the former headmaster of Melbourne Grammar and test cricketer Paul Sheehan about 15 years ago. He made the comment that the future careers of most of his students hadn’t been invented yet – such was the rate and extent of change that was taking place through technological advancement. How right he was!

I believe we are entering a new era of change that will see the emergence of new industries and opportunities. For those who embrace this change, the future is exciting; for those who do not, failure is inevitable.