SME Focus

DisruPt or DisturB

Disruption is essential to innovation; it might disturb the peace, but as with every revolution, the technological revolution needs disruption too.

disruptive-innovation-intelligent-sme-1In January 2009, Satoshi Nakamoto released Peer-to-Peer Electronic Cash System –Bitcoin, code as open source as an experimental and obscure disruptive digital currency. Five years hence, financial institutions, around the world, including central banks are putting serious efforts to make it a reality. Funds worth USD 1 billion are already invested in Blockchain-based startups.

Blockchain is a technology of Bitcoin. Blockchain has disrupted industries like streaming music, real estate record, physical currency, blogging, social media, video production, and voting to name a few in the last couple of years. A disruption which will impact every human on earth and disturb every industry in terms of the way they transact. The world is in transition where it’s moving out of cash. That’s the power of disruption which transforms lives. Disruptions disturbs the current industry/s but also creates new industry/s.

Banking is in a transition phase of massive disruption. With mobile wallets and bitcoin, banking will see a shift in cashless economies in next 5-10 years. Wallets like Apple Pay, Samsung Pay, Alipay, Paytm, and MobiKwik, to name a few, are transferring cash to virtual wallets. This will have an impact on banking operations in terms of setup of ATMs, branches, operations and technology. Wallets will be virtual banks in themselves and would offer interest on wallet money, and might even offer credit like credit cards. This will change the entire landscape of retail and commercial banking. The incumbents have to transform towards different business models in terms of operations. A couple of years back, the cutting edge technology of a transactional setup created disturbances; now new disruptions are digging deep in to the new ways of creating, producing and operating transactions.

Education is now in a phase of major disruption, with MOOC’s and a changing communication landscape. The best kind of education would be accessible to almost everyone by 2020 – through 4G, 5G, Hi speed Wi-Fi or Li-Fi (is now in testing phase -hopefully will be available by 2020). With each individual possessing a smartphone and a smart device by 2020, universities and educational institutions have to start figuring out models that will support sustenance and reachability to a larger audience. Automations are impacting the skills and should be serious concerns for academic institutions, students, and employers.

A couple of years back, the cutting edge technology of a transactional setup created disturbances; now new disruptions are digging deep in to the new ways of creating, producing and operating transactions.

Artificial Intelligence, machine learning and robotic process automation is already making headway and now humans have to start another evolution race to manage skills and employment.

Information of Everything (IoE) is disrupting decision sciences. Structured, Semi-Structured and Unstructured data are now getting transformed for a 360-degree view of decision-making. Data in all forms is now used to predict and prescribe. Data will be part of each and every disruption and will continuously disturb the evolution of new design of services and products.

3D printing has completely disrupted product development and prototyping, especially in industrial designing. It is expected to grow at a rate of more than 300% and procure almost USD 50 billion investments in the next decade. 3D disruption will disturb the entire product development and roll out to the markets.

Virtual agents or virtual personal assistants have disturbed the markets with sophisticated technology through advance machine-based learning. Virtual personal assistants like Apple’s Siri and Google Now are currently offering much better voice-based experience to customers than human call centers, and gradually it very soon will be able to provide information to humans dynamically and prove to be a disturbance to the human support activity. Call centers and support centers have to evolve business models to utilize this machine-based learning models.

Internet of Things (IoT) has disrupted the way world connects with devices. This will have an impact in all industries. Smart Homes and Digital Health Services are already making an impact through connected devices such as fitness bands connected to smart devices and smart TVs taking decisions on incumbents’ behalf.

Governments across the globe are in an adoption and transition phase of disruptions. E-governance and e-services are now accessible and available almost everywhere. Governments are promoting incubations on innovations and disruptions to improve lives of its citizens. Automation will consume repetitive, low-skill jobs against manual labor. Automations in government will eliminate errors and lead to highly productive results.

DisruPt and DisturB have everything in common except P and B. More or less, both mean the same. Disrupt impacts the masses and touches lives and disturb impacts the situation as-is. If you look at it differently, disruption creates disturbance. On the flip side, if incumbents do not disrupt, others will and continuously disturb the ecosystem.


About the author

SPI Group

An integrated platform created to serve entrepreneurs and service providers. SPI engages with over 100,000 Entrepreneurs & Senior decision makers through a unique combination of cutting edge business magazines, high profile B2B summits and conferences, strategic alliances with Govt, business associations and government bodies. SPI also leverages the power of digital marketing and social media.

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