Don’t just follow the Innovation, watch out for the aftershock

As technology continues to evolve and the realisation that those pesky unicorns are not so easy to find, most organisations are now starting to embark on a digital journey to embrace what the tech companies have been doing for years.  You can see this manifested in numerous industries where more announcements are being made at technology events like CES than the traditional venues.  One recent example is the automotive industry where in 2017 more Innovation was announced at CES (The Consumer Electronics Show) than their traditional venue of the Motor Show.  These disruptive vanilla applications will certainly ripple across the whole ecosystem so it is important to not just “look down” at the specific Innovation but also look laterally for the “aftershock”. If we look at a few examples it will become apparent how any Innovation can disrupt all industries.

Transport – This may be a way away however just think if there were autonomous cars driving around 24×7; why would you ever buy a car (it is also believed that children being born now may never learn to drive).  If you then think laterally at the aftershock there would be a knock-on into how you insure yourself, why would you need a garage in your house or even a drive, cities wouldn’t need car parks.  What effect would this also have on the logistics businesses if these vehicles could also deliver shopping or purchases?

Self Help – The wearable market is expected to be worth $34.6 Billion by 2020, so imagine what could happen if everyone became proactive to health rather than relying on the traditional reactive Doctors surgery?  Health insurance would change, hospitals and doctors would certainly change, a new product line of self testing and DNA would emerge plus the whole pharma industry would shift into preventative medicine.  Also 200 million consumer virtual reality head-mounted displays are predicted to be sold worldwide by 2020 so this will cause disruptions right cross industries from Health, to Training, Gaming etc.

UI – What will be the interface of the future? I have already mentioned above about VR however what about AR (Augmented Reality), Voice and Touch.  The Qwerty keyboard has been around since the 1870s so maybe a change is due.  What would this do to the world if interaction with a computer was no longer by a keyboard?

As you can see from the few examples above its not just the individual Innovations which will cause disruptions but also the aftershock, so look up, look around and suddenly the opportunities will be plenty.

innovation-compass

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Author: Steve Wakefield

Steve Wakefield is an experienced Innovator presently based in London.

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