Technological advancements around the world have been coming on the scene at breakneck speed.This implies that businesses need to keep up with the pace of innovation in order to survive. Disruptive technologies for example are threatening current business models. Below are the top four disruptive technologies that will transform life, business and the global economy.
Mobile Internet – Mobile internet is becoming cheaper and bringing billions of new people online and creating new opportunities for developers, retailers and entertainment companies. More than 4 billion users are now connected to the net via smartphones and tablets.
Internet of Things – IOT extends to 100 million physical objects globally, which allow businesses to manage assets, optimise performance and create new business models. Sensors measure the flow of products through a factory, the moisture in a field of crops and the flow of water through utility pipes which allows for better management of resources.
Cloud Technology – Cloud technology has enabled the explosive growth of internet based services, from streaming media to offline storage of personal data. The expansion of the cloud changes costs for businesses could mean less spending on IT as well as new computing capacities and business models for small businesses and individuals.
Big Data – Big data will become a key basis of competition and growth for businesses, and data driven strategies can be leveraged to innovate, compete and gain value from real time information.The increasing volume and detail of information captured by enterprises combined with the rise of multimedia, social media and the internet of things will fuel exponential growth in data for the foreseeable future.