Disruptive technologies: what they are, benefits, and examples
Disruptive technologies: what they are, benefits, and examples
Breakthroughs that change our lives
Reading time: 11 min
The wheel, the light bulb, and the cellphone are three examples of disruptive technologies. At the time, these innovations caused a profound break with previous patterns, bringing about major changes in people's lives.
For this to happen, disruptive companies adopt business models that allow them to innovate in the market. That's why one of their most valuable assets is their Research and Development (R&D) department, a division that aims to develop new products or improve existing ones in order to cover a need in society.
What are disruptive technologies?
What are disruptive technologies?
Disruptive technology is an innovation that significantly alters established industries and markets, creating new sectors and business models. An innovation that radically changes the way the market is structured and how products and services are consumed.
Harvard Business School professor and business consultant, Clayton Christensen, coined the term “disruptive innovation” in the magazine Harvard Business Review back in 1995.
For Christensen, technology that causes a relevant change and abruptly interrupts the way in which industries, companies, and consumers operate constitutes a disruptive innovation. This process represents a period of adaption such as what we are experiencing with the Fourth Industrial Revolution, marked by digitalization and emerging technological advances.
A good example is personal computers, as the technological advancement in this field shows clear disruptive elements. If we take a look back, we see how computers completely transformed our way of studying, working, and spending leisure time. Schools and families wanted to buy a computer, increasing demand, and as a result, the typewriter began to fall into disuse, thus producing notable changes in the market.
How to implement disruptive technologies in a company
How to implement disruptive technologies in a company
Implementing disruptive technologies in a company requires a strategic approach and careful planning. Here are some steps to carry out this process:
- Identify opportunities for disruptive innovations:
The first step is to identify areas within your company where disruptive technologies can have a significant impact. This could include improving internal processes, creating new products or services, optimizing the customer experience, among others. - Research and explore:
Stay up-to-date on emerging technology trends. This involves researching and exploring new technologies, attending conferences, participating in discussion groups, and collaborating with startups. - Set clear objectives:
Define specific objectives that you want to achieve with the implementation of disruptive technologies. These objectives should be measurable and aligned with the company's overall strategy. - Develop and action plan:
Create a detailed plan that includes the selection of specific technologies, timelines, required resources, and responsibilities. - Staff training:
Provide training and professional development to your staff so that they can effectively use and leverage new technologies. - Measure and evaluate:
Establish metrics and KPIs (Key Performance Indicators) to measure the success of the implementation. Constantly monitor and adjust your strategy as needed. - Iterate and improve:
Disruptive innovation is a continuous process. As technologies and business needs evolve, be flexible and be willing to reinvent yourself and constantly improve.
Benefits of disruptive technologies in society
Benefits of disruptive technologies in society
Disruptive technologies offer a variety of significant benefits that can transform industries and improve people's quality of life. Here are some of the main benefits of these innovations:
- Innovation and Creation of New Markets: Disruptive technologies foster the creation of innovative products and services that did not exist before. This can open up new business opportunities and generate economic growth. It also allows new and emerging companies to compete with established giants, which promotes greater innovation and improvement in the products and services offered.
- Efficiency and Productivity: The adoption of technologies such as artificial intelligence and robotics can automate repetitive tasks, freeing up human resources for more complex and creative tasks. It can also optimize processes and reduce operating costs, making companies more efficient and profitable.
- Improved Quality of Life: The use of disruptive technologies in the medical field, such as biotechnology and telemedicine, improve the diagnosis, treatment, and monitoring of diseases, increasing life expectancy and quality of life.
- Digital Transformation and Adaptability: The adoption of disruptive technologies in companies facilitates smart working, improving work-life balance and increasing employee satisfaction.
On the other hand, companies and individuals that adopt these innovations can better adapt to changes in market and economic conditions and remain competitive in a global environment.
Examples of disruptive technologies
Examples of disruptive technologies
For a technology to be considered disruptive it has to modify a habit or behavior and be accessible to the majority of the population. Many of them are closely related to the so-called professions of the future. Let’s find out some characteristics of the current disruptive technologies.
Blockchain
Blockchain
Blockchain technology, like tokenization is applied in a digitalized workflow to create shared, transparent, and more secure processes. It works like a chain of blocks in which all nodes are connected to each other, so it guarantees the traceability of any process, creating a unique registration network that reduces risks and costs.
5G technology
5G technology
What does incorporating 5G technology imply? In the last year a lot has been spoken about this topic, as it will mean a change in the telecommunications sector. 5G will definitively introduce the Internet of Things (IoT) into our daily lives. This disruptive technology will make it possible for all devices to be connected and share information at high speed.
Advanced Virtual Reality
Advanced Virtual Reality
When we speak about Advanced Virtual Reality, we associate this concept with entertainment or the famous metaverse. However, this technology represents an authentic revolution in many other areas. For example, at Repsol we are working with the Digital Twins technique to model our plants. This allows us to create a virtual simulation model to be more flexible and agile in the face of possible changing circumstances.
Artificial Intelligence and Machine Learning
Artificial Intelligence and Machine Learning
Artificial Intelligence (AI) is the combination of algorithms that are programmed so that a machine carries out actions that until now were carried out by humans, such as learning from data analysis or planning. Machine Learning is a discipline within the AI field that allows computers to learn for themselves and carry out tasks autonomously.
Cloud services
Cloud services
Cloud services, also known as cloud computing, allow files to be saved on the internet without needing external storage equipment. This disruptive technology represents great advantages for companies because it allows users to enjoy management tools from any place in the world by just connecting from their device.
Nanotechnology
Nanotechnology
Nanotechnology is the study and manipulation of matter in very small sizes (between one and one hundred nanometers). This disruptive technology will allow stronger, lighter, and tougher materials to be generated than those currently used. Graphene is a good example of this revolutionary innovation with applications in areas such as energy, personal care products, food and pharmaceutical product packaging, and much more.
Big Data
Big Data
Big Data collects and manages large volumes of data that are then analyzed and applied to a specific area. We can say that it is a smart analysis tool to make more profitable and efficient decisions. This disruptive technology represents a great competitive advantage for companies because it reduces costs, saves time, decreases margin for error in processes, and improves the quality of the final product.
3D printing
3D printing
3D printing promises big advances in very diverse areas: electronic engineering, automotive, jewelery, architecture, regenerative medicine, and even in the food sector, with the printing of edible items. This technology represents a big change in the development of products and in its manufacturing process, as it allows us to quickly test an idea, continuously produce, and reduce costs in the construction of prototypes.
Cybersecurity
Cybersecurity
Cybersecurity or technology security is the set of processes and tools that are implemented to save information that any device, program, or company generates. With the use of network systems, software, and applications, the execution of security protocols is necessary to protect confidential, private, or sensitive information.
Quantum computing
Quantum computing
Quantum computing contributes to solving complex problems and creating effective algorithms in little time. This paradigm allows information to be processed at very high levels with multiple applications. For example, in the area of health, it could contribute to creating new personalized pharmaceuticals. And in the finance sector, it could accurately anticipate changes in the market.
Hyper-personalization
Hyper-personalization
Hyper-personalization can create a unique and exclusive service or product for each customer. Using Artificial Intelligence, and real-time data, companies can create super-personalized strategies and improve user experience. This type of innovation has broad applications in the marketing and communication world.
Chatbots and smart assistants
Chatbots and smart assistants
Almost everyone has had some experience with chatbots or virtual assistants, technologies that offer 24/7 customer service. However, there are differences between them. Chatbots are software that maintain a conversation with a person automatically and autonomously. While a smart assistant carries out a series of questions to find out the user’s likes and interacts in a more natural way, simulating a real conversation, as if it were with a real person.
Smart Cities
Smart Cities
Smart cities are those cities that apply Information and Communication Technology (ICT) to improve its infrastructure, mobility, and public services. The aim of Smart Cities is to place people at the center of ecodesign and sustainable development, creating a value network and improving the quality of life of citizens. In short, to generate sustainable cities.
Computational chemistry
Computational chemistry
Computational chemistry uses methods and programs to solve specific chemistry problems, saving time and resources. Instead of carrying out multiple experiments at the laboratory, appropriate parameters are entered into the computer to predict what formula would be the most optimal. Furthermore, this disruptive technology is also useful for understanding the reactions that occur in flasks in the field of experimental chemistry.
Fingerprints
Fingerprints
Digital fingerprinting is a security system that verifies the identity of a person using an electronic device with the aim of defending copyright. To control the unauthorized copy of content, a series of bits are introduced into a medium (for example, a DVD, Blu-ray, or pen drive) that detects unauthorized copies.
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