Question

Research and identify a disruptive technology that has been launched in the last 5 years, or which is in the process of being launched. Explain: why the disruptive technology is/will be successful; why the disruptive technology is emerging now; what is the response of the companies who are being disruptive; and what will ultimately become of the new technology. PLEASE DONT TAKE OTHER PEOPLE'S ANSWERS V

Answer 1

Blockchain:

a) Why the disruptive technology is/will be successful?

Blockchain is an application of distributed ledger technology that's taken the world by storm over the last few years. Blockchain served the purpose of establishing a trustless economy through its cryptographic and decentralized components, rendering the need for third parties of traditional financial trasactions useless.

The main reason of why blockchain technology is/will be successful is that it has become much more than just a solution for financial services. The same features that are improving the deficits of the financial services industry have the potential to resolve the ineffciencies of many other industries. Not only has blockchain has allowed us to digitize money, which is not a new concept, we can now also place both physical and intangible assets such as copyrights, commodities or land ownership rights on to the blockchain for secure proof of ownership and easier transferability.

b) Why the disruptive technology is emerging now?

Blockchain technology is emerging now because it can help create a universal information system with easier, more compatible and more secure access to records, research and available therapies along with patient's data while minimizing administration time.

Blockchain is also enabling us to move from an ownership economy to a shared economy, in which we no longer need to own our own items but are able to share resources including cars, internet and more.

c) What is the response of the companies who are being disruptive?

The imperative of digital transformation is an insistent buzz in the years of managers everywhere, in virtually every industry, even the most unexpected.

Few executives would argue that digitization's disruptive influence is growing and growing rapidly. But surprisingly little empirical evidence has captured either the magnitude of digital disruption or how incumbents are reacting on a broad scale.

In a bid to address the gap, Mckinsey & Co. undertook a global survey of C-Suite to capture how digitization unfolds across industries and how incumbents are responding. The insights emerged from the survey are that across countries, digitization has a significant negative impact on the profits of incumbents through two loop effects: digital entrants competing with incumbents through disruptive models, and incumbents responding to disruption and creating more intense competition with each other.

d) What will company become of the new technology?

Digital disruption is all around us:

Consider this:

• Alibaba, the world's highest merchant owns no inventory.
• Uber, the world's largest taxi company owns no cars.
• Netflix, the world's largest movie house owns no cinemas.

It does not take a genius to realize that traditional business models are being upended, and in a hurry too.

There are widespread fears that automation will displace and replace humans in the workplace.

The good news is that based on research, less than 5% of all occupations can be fully automated using currently available technology.

The bad news is that for around 60% of the existing jobs, at least 30% of their activities can be automated by robots.

Does this mean that our wages will decline proportionally since we are doing less work? Only time will tell.....