Innovation or Disruption... The Docuteller?

So fifty years ago the automated teller machine was deployed by Chemical Bank (now Chase) in Long Island, New York. There were visionaries who believed it was going to change the way we bank… keep in mind, this was two years after the first deployment by Barclays in London. 

Arthur “Big Boy” Crudup released “That’s all right, Mama” in 1946; it was eight years later when Elvis Presley the “King of Rock N Roll” burst on the scene releasing his version of “That’s all right, Mama”… it was only after Elvis that Crudup was credited as the “Father of Rock N Roll”.

What’s the point of these illustrations?  Barclays and Crudup were the disrupters (did I just create a new word?), but it wasn’t recognized till years later. Every technical article and conference keep using the term disruption when we should be speaking in terms of innovation.  Distributed Ledger, Artificial Intelligence, and even 5G (only kidding) are innovative discoveries.  Their ultimate disruption is still evolving.

BTW, Rock N Roll and Elvis’ hip shaking didn’t destroy the youth. Music’s innovation led to Disco and it destroyed the youth (only kidding), actually it was the technology behind the music led to music’s disruption. 

The ATM didn’t eliminate the branch or the teller.  It will be the technology behind the financial transactions that will lead to a disruption in banking – might not be Blockchain but maybe, just maybe our smart phones and how DLT and AI integrates with my flip phone (only kidding).

https://www.americanbanker.com/slideshow/the-evolution-of-the-atm