Most obviously the tech industry has disempowered the telco business. They are now just "dumb pipes", whereas once they wanted to be all singing all dancing content providers. Wikipedia replaced Britannica. Linux has largely replaced Microsoft. iTunes Store and Spotify took away a lot of the power that RIAA had over artists.

If you want to focus purely on governmental institutions then encryption put intel agencies / corrupt police on the back foot and the digitization of processes especially payments has killed off a lot of low level corruption.

What other industry has such a record?