21 November 2017
A disruptive technology or disruptive innovation is a term coined by Clayton Christensen in his book “The Innovator’s Dilemma”, it is an innovation that helps create a new market, and eventually goes on to disrupt an existing market.
In the business world, many larger companies with more resources are constantly finding ways to grow their market and beat their competitors, however, they will stick to the sustaining technologies as they excel at knowing their market and staying close to their customers. The smaller companies with comparatively lesser resources will go on to adopt the disruptive technologies and it is not unusual for a big corporation to dismiss the value of a disruptive technology because it does not reinforce current company goals, only to be blindsided as the technology matures, gains a larger audience and market share and threatens the status quo.
Many examples come to mind when the topic of disruptive technology comes up some of them are:
1. Voice Based Virtual Assistants
Virtual assistants like Alexa and Google have taken over the market and are present in majority of the households. They interact with the consumers and provide conversational convenience and also a direct link between consumer and the company.
2. Self Driving Cars
Many cars are already equipped with cameras and sensors to help drivers avoid potential accidents. Now, competition is developing not only between traditional automakers such as GM and Toyota, but also among technology companies like Apple and Google as they seek to put self-driving cars on the street as early as 2020.
3. Artificial Intelligence
As investments in advanced robotics is increasing, there are many social robots that are being made that act as companions to human beings living in their houses, and having conversations. These robots can read as well as show emotion and are on the rise worldwide.
4. Renewable Energy
With tech companies like Tesla sending cars to space and building solar power ventures, renewable sources of energy are on the rise and being adopted more and more worldwide. With the increase in green energy, and a growing awareness of the transformation potential for the developing world, we expect to see more disruption to energy companies and innovation in solar, wind, tidal, biomass and geothermal technologies.