The increasing level of specialization throughout human history has led to the creation of a large number of businesses –and indeed complete industries- that serve as an intermediate between entities in need and other entities providing specific skills, resources or other assets.
In a world dominated by the internet though, the value added of these intermediates might slowly evaporate. This potentially touches a wide range of industries:
- Advertisement companies are under threat as companies increasingly find their way to the creative minds directly through crowdsourcing;
- Some activities of the bank (lending money using saving accounts) might become obsolete as ‘peer-to-peer lending’ brings together lenders and loaners directly;
- The music industry used to decide which bands would get the chance to get in the studio and be distributed to the docile audience. Through the fan-funded model, this same audience now decides which band gets in the studio, and how they buy the music from these bands.
Well, yes and no, according to this PEW survey (conducted only in the US and with a somewhat limited number of respondents). According to this survey, some people would rather go to family, friends or online communities for advice on medical matters.
The figures beneath don’t look spectacular, but this trend is likely to increase due to ageing population and the talent gap: there will be less doctors by patient in the future, so sooner or later people will have to find solutions for their immediate needs and concerns. As this survey indicates, they’d immediately go to family and close community for that…
Can you think of any other industries that might be threatened by (or benefit from) disintermediation?
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