Which companies will change the world?
Have you heard kids ask wonderingly "what is that?" pointing at a CD? Or heard teenagers say, slightly condescendingly, "Is that a phone?" about a landline?
In the year 2029, perhaps our youngsters will ask us about plastic bottles and fossil fuels, and get our embarrassed reply: That’s something we used in the old days!
Who knows, in a few years you might refuse to take a taxi with a driver, because you trust technology more than humans.
New products are changing the way we think and live
New products and business models are replacing old ones at an ever faster pace, driven by new ways of thinking. New patterns of consumption are also shaped more rapidly than before. Technological innovations, smarter solutions and government regulations create shifts in our behavior.
The products and services that change the way people think or act are called "disruptive". Disruptive development doesn’t respect established business models, industries, companies or even borders.
DISRUPTIVE MUSIC: Spotify and other streaming services are examples of a new technology that has overturned an entire industry. Very few people go shopping for CDs anymore. (Photo: NTB)
What drives innovation - people or technology?
The main cause of disruptive change is technological innovation.
When the First Industrial Revolution began two hundred years ago machines and new manufacturing processes increasingly replaced humans in various fields.
We are facing a similar trend today, albeit at an accelerated pace. Through the use of robots, artificial intelligence and automation, the changes are occurring more rapidly. Digitalisation, the Internet of Things, 5G, Artificial Intelligence (AI), cloud computing and Big Data are key drivers of change.
