How is disruptive technology impacting business transformation?
The rise of disruptive technology is among the most significant by-products of our hyperconnected world. From the Internet of Things, a network of machines connected by cloud computing and data-gathering sensors to the sharing economy, the business model that drives Uber and Airbnb, these technological fracases are rewriting the way we connect, engage, and consume. Here’s our guide to the digital disruptors bound to shape your business for good.
The Internet of Things
The Internet of Things (IoT), a phrase that describes the use of data sensors and other Internet-connected devices to control physical objects, is set to turn business systems on their heads. If harnessed correctly, IoT can set the stage for inventory that replenishes itself, automate menial tasks in the workplace, and track staff-productivity levels.
Although embracing IoT means businesses must rethink analytics and cyber security, it’s worth thinking about its potential applications today. In July 2015, the McKinsey Institute reported that IoT could have a total economic impact of $11.1 trillion by 2025.
The sharing economy
Companies such as Uber, Airbnb, and TaskRabbit have reshaped the way we navigate our cities, travel, and outsource tasks. For businesses, this highlights the ways in which trust, authenticity, and transparency have become key to delivering a winning customer experience. It also signals the importance of collaborating with customers, creating brand advocates, and building a community around your brand.
From smart rings that deliver push notifications to armbands that improve employee efficiency, wearable technology can revolutionise the way your staff members work. The wearable-tech boom reminds businesses that embracing technology can automate tasks and drive growth.
Disruptive technology offers compelling lessons in the values at the heart of the digital age. What are your plans for investing in digital disruptors in the future?