Disruptive Technology
Candlefocus EditorDisruptive technologies usually arrive on the market sooner or later, superseding the existing technology and processes. They have a profound effect on the way that products are developed, supplied and used. They are often immediately obvious to those adopters with a keen eye, as they often possess superior attributes to the traditional technology.
These technologies can manifest in many forms, including software applications, mobile devices, wireless technology, cloud computing, the internet of things, artificial intelligence and robotics. They are typically defined by qualities such as lower costs and higher performance levels. Examples of disruptive technologies that have altered the ways in which businesses operate and consumers use products include the Cloud, Big Data, IoT, Streaming media and Search engines.
Businesses have to stay ahead of the innovation curve in order to remain competitive and remain on the cutting edge of their industry. Due to the accelerated pace of technology, there is pressure to quickly identify, develop and adopt disruptions in order to benefit from their advantages. Established businesses may be more likely to miss major disruptive technology opportunities and must prepare strategies to successfully leverage these opportunities.
Upstarts and startups, who are highly agile and innovate quickly, are usually the source of most disruptive technologies. They have greater access to capital and resources, and their business models are often better tuned to rapid adaptation and improvement, which gives them a distinct advantage over more established companies.
Disruptive technology is a key driver of transformation and global economic growth. It has firmly established itself as a powerful tool for businesses, empowering them to leapfrog the competition and reinvent products and services. Disruptive technologies are revolutionizing the way that products are consumed, used, and developed in all markets, large and small.