Page 286 - Are You Future Ready?

50 years later, in 1967, a big alteration was evident. At
that time, the market capitalisation of the second and third

largest industrial sectors: science and technology, and
telecommunications lagged behind the No.1 oil and energy
industry by only 50% to 60%, while the top three companies
with the highest market capitalisation were IBM, AT&T and

Kodak, none were from the energy sector.

Another 50 years later, in 2017, the situation seems
to have transformed once again. Today, the largest

284 industry is the science and technology industry, the
second is the financial services industry, and the third is
the pharmaceutical industry. The market capitalisation
of the no.1 industry is almost three times of that for the

second and third largest industries. At the same time,
the science and technology giants have monopolised
the top five places of the largest enterprises for the first
time in 100 years, they are: Apple, Alphabet (Google’s

parent company), Microsoft, Amazon and Facebook. They
account for 65% of the market capitalisation of the top
10 companies. It can be said that the current industrial
transformation is more intense than 100 years ago. Some