Wе саnnоt ѕау all tесhnоlоgіеѕ аrе dіѕruрtіvе, even if they brіng about a rеvоlutіоn of аnу kіnd. For еxаmрlе whісh I lіkе a lоt let uѕ take a ԛuісk lооk at thе first automobiles іn thе late 19th сеnturу, they wеrе rеаllу a whole lоt of revolution then but nо thеу wеrе nоt a kіnd оf disruptive innovation_ Why? Bесаuѕе thеу were very expensive luxurу іtеmѕ thаt did not dіѕruрt thе market fоr horse-drawn vehicles. Bу the wау, Dіѕruрtіvе tесhnоlоgу оr іnnоvаtіоn іѕ one thаt disrupts оr dіѕрlасеѕ аn аlrеаdу еxіѕtіng tесhnоlоgу аnd rеfоrmѕ thе іnduѕtrу. Sо bасk in thе 19th century, the mаrkеt for transportation еѕѕеntіаllу rеmаіnеd unсhаngеd until thе first арреаrаnсе оf the lоwеr-рrісеd Fоrd model in 1908. The mass –produced аutоmоbіlе іѕ аn example of disruptive tесhnоlоgу аѕ it changed and dіѕruрtеd thе transporting market.
There may be different or various types of innovations or technology advancements, they can be grouped as; Sustaining, Evolutionary or Revolutionary. They can be unexpected but will in no significant way affect existing markets like the example we gave above so we cannot place them anywhere close to being a disruptive type of innovation or technology. There are certain criteria to be met before a technology can be tagged as disruptive and many technologies have the potential to meet these criteria but eventually innovators should open their mind to those that are meaningfully anticipated and prepared for.
- Significantly affect economic value. A disruptive technology must economically have the capability to create significant economic influence. Advanced robotics, for example, has the capability to affect approximately close to $7 trillion labor costs worldwide. Cloud space technology is capable of improve productivity across $3.7 trillion in global enterprise IT spending, as well as enabling the creation of new products and services both online and offline for billions of consumers and customers and even millions of businesses as well. The Singapore Nationwide E-invoicing network is another technology model that disrupts the manner in which invoices are being recorded in a buyer or seller’s accounting system. This paperless transmission of e-invoices from one accounting software such as ABSS Accounting software to another accounting system such as Xero, disrupts the traditional paper based method of recording invoices and will result in companies relooking at their Accounts receivable business model in the future.
- Extensiveness of possible scope of impact. To be an economically disruptive technology, the technology in question must have an extensive reach; touching companies and industries as well as affecting or bringing about the birth of a wide range of products, services and even machines. For example, one reason why the mobile internet technology is one of the most resourceful technologies is due to the fact that it affects the lives of billions of people around the world, giving them the tools to become innovators and even entrepreneurs.
The time may be right, for example, to rethink how rethink how governments measure the economic impact of technology – to look beyond GDP and employment and look for metrics that truly captivate the value added [or put at risk] when new technologies take hold.
