byJames Manyika, Michael Chui, Jacques Bughin, Richard Dobbs, Peter Bisson, and Alex Marrs
PART 2: 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”.
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…
…Some technologies detailed in the report have been gestating for years and thus will be familiar. Others are more surprising. Examples of the 12 disruptive technologies include:
Mobile Internet-- Ubiquitous connectivity and an explosive proliferation of apps are enabling users to go about their daily routines with new ways of knowing, perceiving, and even interacting with the physical world. The technology of the mobile Internet is evolving rapidly, with intuitive interfaces and new formats, including wearable devices.
Automation of knowledge-- work Advances in artificial intelligence, machine learning, and natural user interfaces (e.g., voice recognition) are making it possible to automate many knowledge worker tasks that have long been regarded as impossible or impractical for machines to perform
The Internet of Things—embedding sensors and actuators in machines and other physical objects to bring them into the connected world—is spreading rapidly. From monitoring the flow of products through a factory to measuring the moisture in a field of crops to tracking the flow of water through utility pipes, the Internet of Things allows businesses and public-sector organizations to manage assets, optimize performance, and create new business models
Cloud technology-- With cloud technology, any computer application or service can be delivered over a network or the Internet, with minimal or no local software or processing power required…. The cloud is enabling the explosive growth of Internet-based services… The cloud can also improve the economics of IT for companies and governments, as well as provide greater flexibility and responsiveness. Finally, the cloud can enable entirely new business models, including all kinds of pay-as you-go service models.
Advanced robotics-- These advances could make it practical to substitute robots for human labor in more manufacturing tasks, as well as in a growing number of service jobs, such as cleaning and maintenance. This technology could also enable new types of surgical robots, robotic prosthetics, and “exoskeleton” braces that can help people with limited mobility to function more normally, helping to improve and extend lives.
Next-generation genomics-- Next-generation genomics marries advances in the science of sequencing and modifying genetic material with the latest big data analytics capabilities…. With rapid sequencing and advanced computing power, scientists can systematically test how genetic variations can bring about specific traits and diseases, rather than using trial and error. Relatively low-cost desktop sequencing machines could be used in routine diagnostics, potentially significantly improving treatments by matching treatments to patients