Tech Disruption - Technology Disrupting Different Sectors10 Sep 2016
It is always interesting to see the past and learn from that, the impact of technology on various sectors & industries has been tremendous in past 100 years and its only accelearting.
Disruption & Tech Disruption
- Disruption describes a process whereby a smaller company with fewer resources is able to successfully challenge established incumbent businesses.
- Tech Disruption describes a disruption which happens due to technology - it is the primary enabler, incubator, facilitator or the sole reason.
When does tech disruption happens ?
- Technology is mature enough
- Sector is ready for change
- Product timing matches the technology maturity & sector readiness
Disruption - Four Stages
- Disruption (introduce product with new point of view)
- Evolution (innovate rapidly along this new trajectory)
- Convergence (complete value proposition relative to legacy)
- Re-imagination (rethink the entire category)
Why tech disruption happens ?
Technologies evolving faster than ever changing the way things are done.
Good examples of tech disruption
- Low end market (niche & less valuable to large players) - Uber, Micromax
- New market (market doesn’t even exist before but need is there) - Square, Tally
Sector properties to predict readiness
Less regulated, Low CAPEX, no entry barrier, bad shape, urgent need, less disruption, open to technology, conducive policy, tech infrastructure
Technology properties to predict maturity
Low cost, skilled people, highly scalable, easy adoption, robust & stable, learning ecosystem, fast evolving, secure & wide application, applied to many sectors, no entry barrier, many capabilities
Kind of tech disruption
- Disrupting Business - businesses are much more open to change
- Disrupting Us - the way we live (work, interact, think)
- Disrupting Institution - change is slow but happening
Presentation & References
Got an opportunity to do a short presentation on tech disruption for the college students at IFIM during their IT Club inauguration. Here is the snap of the event & presentation.