Disruptive technologies: Advances that will transform life, business, and the global economy
The parade of new technologies and scientific breakthroughs is relentless and
is unfolding on many fronts. Almost any advance is billed as a breakthrough,
and the list of “next big things” grows ever longer. Yet some technologies do in
fact have the potential to disrupt the status quo, alter the way people live and
work, rearrange value pools, and lead to entirely new products and services.
Business leaders can’t wait until evolving technologies are having these effects
to determine which developments are truly big things. They need to understand
how the competitive advantages on which they have based strategy might erode
or be enhanced a decade from now by emerging technologies—how technologies
might bring them new customers or force them to defend their existing bases or
inspire them to invent new strategies.
Policy makers and societies need to prepare for future technology, too. To do
this well, they will need a clear understanding of how technology might shape the
global economy and society over the coming decade. They will need to decide
how to invest in new forms of education and infrastructure, and figure out how
disruptive economic change will affect comparative advantages. Governments
will need to create an environment in which citizens can continue to prosper, even
as emerging technologies disrupt their lives. Lawmakers and regulators will be
challenged to learn how to manage new biological capabilities and protect the
rights and privacy of citizens.