Disruption has been one of the fundamental causal mechanisms through which our lives have improved. Disruptive technology is one that displaces an established technology and shakes up the industry or a ground-breaking product that creates a completely new industry. The accelerated pace of globalization—coupled with digitalization—facilitates interactions and the exchange of ideas. Meanwhile, disruptive technologies threaten existing revenue streams and force companies to remain alert and innovate continuously. The future leaders will be those who embed innovation thought processes inside their organization’s DNA. Technologies likely to have the greatest impact on Economies, Business Models, and People.
Disruptive Technologies in 2018:
1. Blockchain Finds Its Way
While its more popular cousin Bitcoin continues to blow away stock market analysts, Blockchain may finally find its place in 2018. While the financial industry will be the first to begin utilizing this amazing tool, numerous others from healthcare to entertainment to hospitality will not be far behind. the move to blockchain will not come overnight either — just 20% of trade finance globally will use it by 2020.
2. Robots Become Coworkers
2018 will be the year in which science fiction becomes fact, as robots start to be employed for an increasing range of job roles well beyond the production line.
3. From Wearables to Implantable
Till now there has been increasing use of health and fitness trackers in the insurance and healthcare industries, it did not show the mass adoption of smartwatches some had predicted. 2018 could see the beginnings of increased activity and interest in ‘Implantable’.
4. Digital Twins
Digital twin refers to a digital replica of physical assets, processes and systems that can be used for various purposes. The digital representation provides both the elements and the dynamics of how an Internet of Things device operates and lives throughout its life cycle.
A digital twin is a dynamic digital representation of an industrial asset, that enables companies to better understand and predict the performance of their machines and find new revenue streams, and change the way their business operates. While it’s one of the most important technology trends for 2018, by 2020, it’s expected that about 21 billion connected sensors will result in the existence in billions. With this shift to an integrated digital world, marketers, healthcare professionals, and planners will get the benefit.
5. Intelligent Apps and Analytics
It’s expected that over the next few years, every application and service will be incorporating AI ( Artificial Intelligence) at some level. Intelligent apps will create a new intelligent layer between people and systems for transforming the work and workplace structure. Augmented analytics will also become an important part of businesses.
6. 3D Printing
With the speed and scale of 3D printing increasing exponentially in the last 3 years, it will soon move from being a tech novelty to a core part of the design, manufacturing, simulation and construction process in many industries and services sector. Giant 3D printers using additive manufacturing revolutionizing the construction industry – creating structures in months which would previously have taken years.
7. Self-Driving Vehicles on the High Street
The investment in autonomous vehicle R&D was huge till now, and not just from Google and Tesla. Most of the large automotive groups are developing prototypes or have bought driverless tech companies and are regaining lost ground. In the meantime, taxi companies such as Uber have started trialing self-driving taxis. so, in 2018 we might see some developments in what will be the biggest disruptive potential for the technology- in the trucking and haulage industries.
8. Self-Learning Robots
Self-Learning robots have been one of the breakthroughs of 2016 and 2017 as we have seen more examples of bot to bot communication in which one machine shares its learning with another, and deep learning based networks which robots can tap into and teach themselves. In 2018 this segment will be grappling with the immense productivity potential, but also the ethical and cyber security concerns over robots reaching an autonomous singularity.
9. Cyber security Wars
Past couple of years cyber security attacks are seen at every level – from every level of consumer and business cybercrime up to state level campaigns which some say may have changed the shape of global government. One thing is sure – nobody can afford to ignore potential threats. It is unlikely this will solve the problems by 2020 though – expect to see some more major hacks.