Disruptive Technologies that will Reshape Business
by: Jerry Liao
Change will come whether we like it or not, and technology is helping all these changes to happen in a faster pace. The technological advances achieved in the past few decades have brought about a revolution in the business world.
Business will continue to evolve and so as technology, as seen in the recent report issued by CSC’s Leading Edge Forum (LEF).
CSC announced that a wave of disruptive technologies is reshaping industry, triggering new business models and altering consumer and employee behaviors. The report identifies seven “digital disruptions” that 21st century businesses must understand to position themselves for success in an emerging economy that places value predominantly in the production, enhancement and sharing of information and cultural content.
The seven digital disruptions that will reshape business are:
– New Media: media is becoming increasingly consumer-driven, interactive, social, customized and personal. Today’s consumer is a “proviewer,” a source of new content and potential threat to traditional media.
– Living in a New Reality: we increasingly live in a blended reality that combines physical and virtual reality, improving both. Augmented reality helps businesses manage data centers virtually, students learn about weather patterns by “flying” through them, and consumers shop for clothes by building, and fitting, virtual selves.
– Social Power: social sites are becoming the starting point or hub of our cyber experience. In the enterprise, social power has revenue power, enabling businesses to quickly tap into expertise to make more informed decisions faster.
– Information Transparency: information that was once not available now is, shedding light on previously opaque people, places and things. Businesses will be able to “see” all their assets, bringing new levels of safety, efficiency and innovation. Consumers will benefit from highly tailored services such as, eventually, personalized medicine.
– New Wave of Waves: new hardware and software tools are refining our ability to control radio wave signals. Old business models, like traditional broadcast AM/FM radio, are becoming obsolete. Technologies such as software defined radio and cognitive radio are shattering the need for spectrum allocation. New opportunities and architectures are emerging, such as “viral radio,” enabling infinitely scalable networks with no central backbone.
– Platform Makeover: virtualization and cloud computing are changing today’s computing model, enabling anytime, anywhere accessibility for users and applications. Nanotechnology, molecular computing, quantum computing and optical computing will take us beyond silicon, providing greatly increased speed and bringing new applications, opportunities and challenges.
– Smart(er) World: technology is becoming smarter, gradually approaching and eventually overtaking human ability to appreciate the meaning of patterns, proactively associate and correlate data, reason and make decisions. The future will bring us lifelike virtual assistants, semantic Web search, enterprise applications that identify relationships across data and information technology (IT) systems that give end users the ability to define business processes.
Additionally, predictive behavioral software is improving employee performance, safety and productivity, and software that senses brain wave activity is leading to improved lie detection and, eventually, to mind reading.
While these disruptions represent distinct technology developments, many of them overlap, triggering new and more powerful disruptions. Virtual worlds are the next frontier for social networks. Social networks have a strong influence on new media. Information transparency is a prerequisite for a smart(er) world. Innovations with radio waves and wireless applications enhance information transparency. New platforms will turbo-charge the other disruptions.
Whether we like it or not, these changes will happen. There’s no use fighting or avoiding it. The best thing to do is to be informed, determine whether it would be to the advantage of the company to embrace these changes. If yes, implement it correctly in the most economical way.
Be more adoptive to technological changes – it’s the only way.