lightbulb

What Is Disruptive Technology?

Leon BalarinWritten by | Edge & IoT

What Is Disruptive Technology?
A quick definition of Disruptive Technology states that it is new technologies that emerge to displace and overturn traditional technologies that have already been long established within the marketplace.
The Evolution of Disruptive Technologies
Disruptive technologies are secretive and generally arrive unknown to the greater public, frequently with little track record or any proven practical application. Often, performance of the new technologies is hampered and lacks the refinement of established technologies. The products are also expensive, complicated and arrive almost always ahead of customer need. But as consumers gradually adopt the new technologies, support networks for the displaced technologies show resistance; however, eventually they will co-evolve to help in the refinement of the new product.
Fortunately, with these growing technological advancements comes the opportunity to transform the economy, ultimately leading to the creation of new markets.
Up and Coming Disruptive Technologies
Disruptive technologies can also alter lifestyles, from how you date, plan your vacations, what type of car you drive and how you travel to the airport.
The latest disruptive technologies include:

  • Self-Driving Cars: Disruptive technologies are quickly impacting automobile manufacturing, the taxi and shuttle marketplace, air travel and insurance industries.
  • Apps: Smart phones with Internet access have allowed apps to be created that displace many commonplace functions. Examples include Uber displacing taxi services and Tinder displacing dating websites.

Internet of Things Gartner quote

As companies continue to invest in research and development, innovation will remain a constant for society. It is important for current market leaders to not only encourage this behavior, but also invest in these advancements, or run the risk of being displaced.  Organizations should proactively plan around this concept and align their goals to ensure they are in a position to capture new market growth created from disruptive technology.
[contextly_main_module]

Last modified: March 27, 2019