Question

What kind of technology disruptors have occurred in business the last few years?

Answer 1

Disruptive technology is an invention that dramatically affects the way customers, markets or companies work. A disruptive technology sweeps away the systems or habits that it replaces, because it has recognizably superior attributes.

Some technology disruptors occurred in businesses are: -

1. Blockchain

Blockchain is a form of shared accounting ledger where digital transactions are joined together, and then tracked through a peer-to - peer blockchain network. If you can imagine a future in which you don't need a bank to have a savings account or a notary to legally bind a bond, you can imagine a world running on blockchain. Bitcoin is the most recognizable blockchain application today, but this more secure, more transparent, more easily authenticated data ownership and transfer method has the potential to disrupt anything for small and medium-sized enterprises (SMBs) in the future.

Few examples of the businesses that will have a significant impact:

• Hospitals can use blockchain-powered health data to ensure patient information is reliable, up-to - date and not abused by provider-to - provider jumping about.

• Retailers worried about the quality of their goods should use blockchain to ensure that each partner in their supply chain meets defined expectations.

Ways businesses can prepare for the disruption: -

• Read more about all the possible advantages that blockchain can offer to different processes and pick one or two that you want to accomplish by implementing.

• Keep up-to - date with the new blockchain start-ups moving in. The company is unlikely to build its own blockchain software and you'll need to search beyond.

• Calculate a rough calculation of the maximum risk for the SMB to evaluate a timetable for consideration of the appropriate blockchain project framework.

2. Drones

Drones possess almost infinite ability. We 're seeing growing numbers of building firms using drones to track their work sites. Drones can, if not more, at least interrupt the distribution and delivery of goods.

The construction industry represents a perfect example of the transformative ability of drones. Drones can perform tasks like surveying the land and mapping the job site quicker, easier and cheaper than humans might ever have. A lot of other industries should see the adoption of drones soon, too. The drones tracking crops and animals would support agricultural and manufacturing companies. So, all levels of government in various sectors (e.g., county, national, state, federal) will benefit from drones.

Ways businesses can prepare for the disruption: -

• Upgrading basic applications, such as inventory management and customer relationship management (CRM) programs, to allow drone applications to collect information and automate drone operation.

• Optimizing drone deployment procedures and assessing to what degree existing processes need to be modified after drones take on those tasks.

• recruiting or collaborating with drone experts specializing in compliance with FAA regulations, mechanical engineering maintenance and other highly technical, highly specific protocols;

3. 3D Printing / Additive Processing

3D printing is used by companies in all sorts of sectors to transform computer prototypes into actual objects. This technology enables the complex and detailed physical development of computer-aided design (CAD) templates — physical creations that cannot be created by any other technology. One such impossibility overcomes 3D printing is the ability to customize more in single-time manufactured products. Customization offers retailers an interesting business model — essentially merging store and fabricator into one operation. This concept is similar to a custom T-shirt shop, except 3D printing helps companies to start at the string stage and build the T-shirt while still imparting the print instead of a blank T-shirt like the canvas does. Additive production will continue to threaten the industrial industry. It would have a ripple effect as it relates to SMBs, which trickles down to supply chains and distributors, consumer packaged products and suppliers and many other specialist sectors, such as field service and medical, depending on specific, one-off devices.

Ways businesses can prepare for the disruption: -

• Open communication lines with the manufacturers of your suppliers to see where they stand on investing in 3D printing.

• Research additive manufacturing usage cases for companies such as yours to assess the effectiveness and practicality of 3D printing;

• Hit local / state colleges to see which 3D printers are in use for testing purposes. If so, consider setting up a collaboration to test the feasibility for your business of the 3D printing products / parts / tools.