Is disruption good or bad?
It’s both – has wiped out some established brands and businesses and paved way to opportunists to establish from scratch to become market leaders – disruption has two sides one side is the technology and the other is the right innovation which is specific to a business, it’s not generic to any vertical.
Disruption is productivity-driven, as we saw technology has been commoditised, now it comes to the businesses to adopt, business innovation is driven by value creation and keeping up-to-the changing needs and demands, its different to everyone and depends on their readiness to adopt.
How do we identify disruption?
Disruption is the convergence of technology and business model innovation, this can happen in any industry i.e. logistics, retail, food, health care, the education you name it. An example of what I have seen close to the industry is the cloud and provisioning of technology for enabling business innovation, procuring the hardware and configuring the software have gone down from months to hours.
A few years back I saw the below as key exponential technologies –
1. Sensors / Internet of Things
2. 3D printing
3. Machine Learning / Artificial Intelligence
4. Robotics / RPA
5. Electric / Autonomous Cars
6. Solar PV / Electricity Storage
7. BIG Data / Open Data
8. Unmanned Aerial Vehicles / Nano Satellites
9. eMoney / Blockchain
10. Mobile / Internet / Cloud
*the order differ from analyst to analyst and from year to year, but the areas of disruption are still the same
Availability and affordability of both hardware and software have also fueled the continuous disruption, they are getting cheaper by time and their latest version. AI, in this case, is a classic example. As a result of which #data is growing exponentially, technologies that have been improving at exponential rates and have become cheaper by 4x to 10x in the last decade (some examples)
– Network capacity
– Hard Disk Storage
– Digital Imaging
I wanted to point a few which falls under our services and their inter-relationships and dependencies
– Sensors / Internet of Things – data in motion / streaming use cases
– Machine Learning / Artificial Intelligence – data science use cases
– Robotics / RPA – BPM / Automation use cases
– BIG Data / Open Data – data warehouses / data lakes
– Mobile / Cloud – migrations (structred / unstructured)
Many of them have commenced this journey and the beginning of this new decade will focus on readiness for this use cases, every one of the above needs a clear business case and champion to lead and a partner to rely on in the delivery.
We have been talking about digital disruption for over a decade, to me it looks like we are in the era of permanent disruption. We @BAR360 are geared/excited to be part of this disruption.
Wish you a very happy new year.