Europe's business leaders may recognise the need to evolve to take on the disruptors like Uber and AirBnB, but they're still not moving quickly enough, experts are warning.
"Time and time again we have seen the mighty fall because they didn't pay attention until it was too late," Adam Graham, chair of digital industry association BIMA told CNBC via email.
"Established companies have the ability to change direction quickly. It takes guts and determination but it is essential to surviving in a fast changing market."
"If you don't change with the changes that are happening in the broader environment then you fail," Tarek Nseir, CEO of digital transformation agency TH_NK told CNBC in a phone interview.