Cutting-Edge Technology: The Era of Disruptive Innovation
Today are the times when an idea is turned into a real business so easily and so quickly. Start-up and middle-sized businesses are rising up and challenge the status-quo of the incumbent companies across all the industries. You may have heard about the disruptive tech too often. So let`s see what to expect from the latest cutting-edge technologies in the forthcoming years and what are the key areas where disruptive ideas might evolve.
What is disruptive innovation?
Clayton M. Christensen, a Harvard Business School professor, was first to introduce the term “disruptive innovation” in the book The Innovator`s Dilemma (1995). Since then, the debates concerning companies-disruptors continue till nowadays. The point is that we still don`t know how exactly such businesses occur, we can only analyze the outcomes they bring. What is clear now is that disruption isn`t about a powerful tech breakthrough. Usually, such innovative ideas grow in a disruptive way when they suggest a simpler, more convenient, wider accessible solution to get the products or services. Often, their ideas are not threatening to the incumbent companies on the market, yet the solution they bring almost always would shake up the competitors later.
The upcoming disruptors
Because of the powerful impact disruptors make on market development, it would be great if there were any guidelines on how to track them. Yes, the way such companies occur is impossible to predict. But to follow the areas where the game-changing solutions are necessary is feasible. Probably, you`ll meet someone with the relevant idea 🙂 Or maybe you`ll come up with your own?
We`re all familiar with Web 2.0, the version that hit the Internet hub in the early 2000s. By bringing up great interaction and advanced ways for online experiences, the second iteration of the web transformed user experiences forever. Disruption Hub claims the new generation of the Internet introduced the technology to accelerate interactivity with the smarter search algorithm to replace the traditional keywords. In fact, Web 3.0 is expected to implement AI and IoT solutions to boost online collaboration.
Artificial intelligence is a promising way to achieve smarter navigation. Although the incumbent search engines come up with the most popular results using the keyword search algorithms, this doesn`t always meet users needs. Unlike Web 2.0, the third version applies context, filters irrelevant information, and delivers specific result list with the help of AI.
In particular, the scientific progress in Natural Language Processing is going to introduce a voice search. Another critical feature of Web 3.0 is the use of the semantic web, as the authors of Disruption Hub write. The feature supports open data sharing among the applications and communities. The presence of open data will feature virtual assistants to find the required information in the world wide web.
The emerging market of IoT products also adds value to developing Web 3.0. The latest version is going to be ubiquitous, a never-failing connection will be possible only with the support of wireless products. This is what the nearest future hopes to deliver with the help of 5G technology and advanced data storage approaches.
The disruptive idea of Web 3.0 lies in its open data basis distributed by AI and computing. Although this idea is underdeveloped for now, the new version will most likely move away from centralized services and offer the AI-powered software as a service.
Smart Automation by Artificial Intelligence
In the fast-growing world of tech, we`re keeping an eye on automating the processes. In particular, the idea is to implement intelligent automation — the combination of AI and automation approaches to regulate project development and drive efficiency to the business processes. The World Quality Report (WQR) proves the emerging nature of AI by the numbers: 64% of IT companies-respondents have AI planned to improve customer processes. This tendency is followed by 62% of the companies eager to implement smart tech for internal purposes, and 57% require AI to improve software testing.
As WQR estimates, 55% of the companies see AI as a potential platform for enhanced software development. The tendency to apply AI is followed by its growing presence in machines and applications people use every day. Since the apps have become more powerful and simpler to use, the IT world is moving towards integrating AI to the application directly without having to manipulate the AI-related features. Major technology companies including Amazon, Google, IBM have introduced the idea of “democratized AI.” This is a solution to drive efficiency for the internal software development strategy. More and more machine learning data algorithms are becoming easily accessible for developers via cloud-based platforms. Since AI has all chances to be a part of the standard programming toolset, we might expect an active presence of intelligent technology in our everyday lives.
But automation shouldn`t be a watchword for us. The reality of AI automation is not about putting people out of their jobs. On the contrary, machine learning is productive enough to relieve us from mundane, routine tasks. Instead, the talents of employees will focus on more meaningful strategic solutions.
Voice technology has established the way humans interact with machines. This is the reason why voice economy has become an entirely new approach to conduct marketing & branding strategies as well as to establish consumer engagement. Voice-powered devices might replace the widely-used engagement tricks: test completion, questionnaires, Instagram giveaways, photo contests, etc. Voice is a natural, seamless, and easier way to make customers engage with products and services without the help of intrusive advertising.
The latest example of Google`s Duplex assistant proves the point. Once the robot has successfully reserved a restaurant table, such kind of activity demonstrated a high-standard development of voice assistants. The technology has all chances to reveal its potential very soon.
E-commerce & O2O
The data provided by CNBC estimates staggering 40% of returned online purchases due to irrelevant product description. This means that the users are confident online buyers, yet they lack clarity and confidence in making purchases in e-stores. Thus, the combination of digital and offline shopping experiences is the disruptive trend of the e-commerce business.
The rise of online-to-offline sale (O2O) is a 2-3-year-old idea that has already demonstrated positive results. Alibaba`s Hema (China) is a winning example of the omnichannel approach to developing a retail business today. As a fine-dining supermarket, Hema combines restaurant & retail. The conception enables to enter the store with the smartphone in hand, choose the items, and those living in a 3-mile radius might expect the selected products delivered within 30 minutes.
The idea as such has brought a new buyer persona: they enjoy the convenience of e-shopping, yet still prefer traditional storefronts to make sure the product meets the expectations. That`s why the omnichannel strategy has all chances to satisfy customer demand for easy & quick payment and tighten-up purchasing decisions.
There you have it. We will be updating the list with the most relevant information on the innovative ideas in technology. For now remember, we live in transformative times. More and more companies are breaking ground, thousands of talented firms explode the market gradually simplifying each and every aspect of our lives.