Hardly a day goes by without one reading a great deal about disruptive technology and enterprises that have collapsed due to inappropriate response to it . In the Middle East , the region has seen governments at the forefront of embracing disruptive and emerging technologies . Industry pundits share with Intelligent CIO Middle East , how disruptive technology is re-shaping businesses in various sectors in the region , writes Manda Banda .
What do Nokia , Kodak and Blockbuster have in common ? Most businesspeople familiar with consumer technology , photography and , home movie and video game rental services , will know what these industry giants once symbolised and have in common .
They are all companies whose footsteps you don ’ t want to follow . They were all market leaders that fell prey to disruptive technology . But how can your company avoid that fate today in an era where disruptive technology is changing the way enterprises and customers interact ?
A disruptive technology is one that displaces an established technology and shakes up the industry or a ground-breaking product that creates a completely new industry .
This relentless parade of new technologies is unfolding on many fronts . Almost every advance is billed as a breakthrough and the list of ‘ next big things ’ grows ever longer . Not every emerging technology will alter the business or social landscape – but some truly do have the potential to disrupt the status quo , alter the way people live and work , and rearrange value pools .
A report from the McKinsey Global Institute identifies 12 technologies that could drive truly massive economic transformations and disruptions in the coming years and estimates that these technologies have a potential economic impact between US $ 14 trillion and US $ 33 trillion a year in 2025 .
Given the impact disruptive technology is having on various businesses across different industries , the spotlight is again on CIOs and how they www . intelligentcio . com INTELLIGENTCIO