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Technology is evolving every aspect of modern life – from the daily commute to how businesses operate. While it may be challenging to adapt to the latest technological innovations, the fact is that digitisation is improving lives in ways we could never imagine. So, how is disruptive technology making a difference? Let’s look at things from an economic and social perspective.
The Impact on Global Economies
Disruptive technology has had a significantly positive impact on global economies. These technological measures have opened up new markets, thereby creating new career opportunities. For instance, firms in the legal industry are already incorporating AI and machine learning for tedious and time-consuming tasks. Marketing executives are using advanced analytics, coupled with AI, to better understand and serve their customers. The list goes on.
In his book, Understanding the Principles Behind Successful Digital Transformations, Helmut Schindlwick says that digitisation fosters a learning culture, opening countless avenues for employees and employers. In addition, many new business procedures have significantly improved workflow, led towards better productivity and sped up supply chain methodologies, among other benefits.
The Social Impact
Technology has indeed refined the lives of countless people around the world, particularly in the last three decades. Whether it’s because of the evolution of smartphones, the advent of AI or nanotechnology, robotics or augmented reality, the results are fruitful. A McKinsey report from 2013 predicted that modernised technological implementations could revolutionise business models and human lives, in general. Year after year, the world is seeing this in action – and in some ways, the results are going beyond the predictions.
Schindlwick discusses in his book that disruptive technologies have substantially impacted society by tapping into new business avenues and opening new job opportunities. However, with every innovation, there are corresponding disadvantages that need better scrutiny. Today, different concerns on health, safety, governance, and the environmental sector are increasing rapidly. Schindlwick suggests that strict regulation measures or inefficient company strategies might negatively impact positive technological experience in the long run. So, these organisations must embrace innovation, vision, and skills to influence people to experience disruptive technology positively.
Disruptive Technological Trends in The New Decade
Experts believe that the next few years will be crucial in terms of technological innovations. Here are some disruptive technologies that are proving to be game-changing.
Distance Learning
The unexpected arrival of the COVID-19 pandemic increased the implementation of distance learning, but the concept is still relatively new. The good news is that we know that the technology is there. All that’s left is for education providers to take it more seriously and execute it for good.
Non-Linear Media Consumption
Even in 2021, you’ll find that a TV is still the king in people’s living rooms. It’s true that the importance of television has deteriorated with time, but a significant number of people like watching it. Furthermore, non-linear media consumption devices like Video-on-Demands still haven’t reached many parts of the world. The adoption of these is likely to amplify when 5G internet reaches different parts of the world.
Big Data and Internet of Things
Big Data and IoT have been key influencers in improving organisational productivity, eventually boosting the production’s overall cost and quality. Schindlwick shares a survey result which states that 49% of the business leaders perceived IoT as an important catalyst for their productivity. He also believes that technological disruption will play a central part in transforming company operations and boosting employee efficiency to help them meet tight deadlines, for example.
Final Words
Like today’s world that is divided between the rich and the poor, tomorrow’s technological era will also be divided. However, this time, the division will be between those who have adapted the disruptive technologies well and those who haven’t. Unfortunately, the technologically challenged ones will be left behind in this modern survival of the fittest.
This is why Shindlwick aims to educate his readers on how technological implementations can impact organisations, which is the first step in adopting them. He also elaborates on disruptive technology’s economic and social benefits and different ways to utilise it.
Want to learn more? Order the book here!
