Tech Disruption: How are Existing Industries Changing?

Long before the Covid-19 pandemic crisis, new technologies, paired with innovative thinkers, are eliminating century-old problems that didn’t have adequate solutions. Companies are using innivative technology to increase efficiency, customer satisfaction, or ease access if there is already an adequate solution. It does not matter whether you operate in hospitality industry, hoteling software development, aviation or health care to groceries, startups are disrupting industries at an alarming pace.

Tech Disruption How Are Existing Industries Changing The disruptions put industry leaders in the hot seat as their complacency and lack of creativity have allowed smaller companies to take loyal customers.  Disrupting companies come in a variety of packages. Some offer subscriptions to their software (software as a service or SaaS), while others solve problems within an industry. In contrast, others compete with industry leaders by offering direct to consumer (D2C) goods that are often healthier or more sustainable than their long-standing rivals. Other disruptors are using brand new technology to adapt to age-old industries.

Cryptocurrency Powered Games

While video games aren’t an ancient industry, they have come a long way since their eight-bit days. Probably one of the most regularly disrupted industries, video games have always attempted to involve cutting edge technologies to attract new customers and revive the interest of older players. Virtual reality is not a new concept, but technology advancements have dramatically increased the capabilities of VR. An unconventional technology entering video games is the technology behind cryptocurrency, blockchain. 

DapperLabs’ most successful game is CryptoKitties, which uses blockchain to create individual and unreplicable kittens. Users have created almost two million unique kittens, and the company generated over $40 million in sales. DapperLabs wants to create fun games, but users familiar with blockchain technology want to increase its adoption in new technologies. Blockchain development uses multiple coding languages to create a chain of data that can’t be modified, resulting in easily identifiable and verifiable applications. 

Blockchain is a relatively new technology that entrepreneurs and software engineers are still figuring out to implement in various industries. There is a good chance we will see blockchain start disrupting industries outside of gaming and cryptocurrencies. 

Assisting Humans with Physical Disabilities

HG Wells and other sci-fi thinkers imagined worlds with robots, flying cars, and visits from otherworldly creatures. Only the former is close to becoming an actuality; researchers pursue robots to help people with various tasks. While it would be nice to have a chef or maid robot, there are better uses for technology, such as helping those with disabilities complete difficult tasks. iRise Mechanics is building machines to improve the lives of people living with disabilities. Other reputable company like deskflex.com are providing effecient and easily customisable scheduling software to help healthcare providers manage their resources effectively. By implementing a variety of computer science and engineering technologies, these leading companies are improving lives.

Orthodontia

For anyone who has had them, braces aren’t the most fun experience. Monthly visits to the orthodontist to change rubber bands and tighten any cement connections isn’t fun. Not to mention the pain that followed the next three days. 3D printing and machine learning are removing the trip to the orthodontist all together. By creating a mould of your teeth, companies create plastic guards for your teeth that slowly move them into place. The guards are printed by 3D printers and shipped monthly. They are relieving us of any trips to the orthodontist. 

Predicting Food Outputs

Not all disrupted industries are more than fifty years old. Space used to be a government agency, not a growing sector of the economy like it is today. Launching satellites to space has allowed for technological advancements such as cell phones, high-speed Internet, and cable to remote locations. Descartes Labs, a New Mexico-based company, uses satellite imagery to measure and predict thousands of outputs around the world. 

The company predicted the amount of corn produced in the US with higher accuracy than the USDA. The company will use its technology to predict food shortages in locations that don’t import much food. The company collects so much data it makes a noticeable dent in Google’s cloud services when it analyzes it. Data scientists at the company look for ways to optimize the data analysis to improve the efficiency of the analytics and reduce energy consumption. You can become a data scientist and help mitigate world hunger or other systemic issues by attending a data science bootcamp.

Disruption Will Continue

Technologies will continue to evolve as companies find cheaper and more efficient ways to harness computing power. The drop in the price of computers, computing, and software programs have been a catalyst for entrepreneurs to attempt to disrupt large, well-established industries. You can become a disrupter by learning to code in a coding bootcamp.


By Artur Meyster – Contributor | 28/09/2020