Friday, July 31, 2015

Disruptive technologies: Advances that will transform life, business, and the global economy

byJames Manyika, Michael Chui, Jacques Bughin, Richard Dobbs, Peter Bisson, and Alex Marrs

PART 3: Often the drivers of organic growth are external forces that dramatically change the overall context in which we compete in our businesses. Accordingly, I believe it is essential for leaders to continually understand how “something new” could significantly impact your market and business. Remember our definition of innovation—“bringing something NEW into USE”. This is the final in this series. I STRONGLY RECOMMEND YOU READ THE FULL ARTICLE TO CAPTURE THE FULL IMPACT.

Disruptive technologies: Advances that will transform life, business, and the global economy, a report from the McKinsey Global Institute, cuts through the noise and identifies 12 technologies that could drive truly massive economic transformations and disruptions in the coming years…
…Business leaders should keep their organizational strategies updated in the face of continually evolving technologies, ensure that their organizations continue to look ahead, and use technologies to improve internal performance. Disruptive technologies can change the game for businesses, creating entirely new products and services, as well as shifting pools of value between producers or from producers to consumers…

Autonomous and near-autonomous vehicles-- Over the coming decade, low-cost, commercially available drones and submersibles could be used for a range of applications.

Energy-storage devices or physical systems store energy for later use. These technologies, such as lithium-ion batteries and fuel cells, already power electric and hybrid vehicles, along with billions of portable consumer electronics. Over the coming decade, advancing energy-storage technology could make electric vehicles cost competitive, bring electricity to remote areas of developing countries, and improve the efficiency of the utility grid

3D printing-- With 3D printing, an idea can go directly from a 3D design file to a finished part or product, potentially skipping many traditional manufacturing steps. Importantly, 3D printing enables on-demand production, which has interesting implications for supply chains and for stocking spare parts—a major cost for manufacturers. 3D printing can also reduce the amount of material wasted in manufacturing and create objects that are difficult or impossible to produce with traditional techniques

Advanced materials-- Over the past few decades, scientists have discovered ways to produce materials with incredible attributes—smart materials that are self-healing or self-cleaning; memory metals that can revert to their original shapes; piezoelectric ceramics and crystals that turn pressure into energy; and nanomaterials. Nanomaterials in particular stand out in terms of their high rate of improvement, broad potential applicability, and long-term potential to drive massive economic impact

Advanced oil and gas exploration and recovery --The ability to extract so-called unconventional oil and gas reserves from shale rock formations is a technology revolution that has been gathering force for nearly four decades… With continued improvements, this technology could significantly increase the availability of fossil fuels for decades and produce an immediate boon for energy-intensive industries such as petrochemicals manufacturing.

Renewable energy --Renewable energy sources such as solar, wind, hydro-electric, and ocean wave hold the promise of an endless source of power without stripping resources, contributing to climate change, or worrying about competition for fossil fuels.