AR And VR Have Potential To Become Disruptive Technologies
The Disruptive Technology Executive Briefs are produced in collaboration with PA Consulting Group, combining cross sector technology, innovation and business design expertise. The briefs are intended as an easy to digest introduction to disruptive technologies, to help organisations understand how they could advance the Sustainable Development Goals and business performance. These overviews explore key features, examples of applications, potential positive and negative impacts, and how they may enable the new business models.
AR and VR have potential to become disruptive technologies
Some potential health risks have been identified with the widespread mass market adoption of virtual reality. These include the risk of addiction and increased social isolation for those who choose highly realistic and immersive virtual experiences over participation in their society and communities. There are also some fears that prolonged use of VR could damage eyesight, and some users experience nausea and motion sickness.
Explore how disruptive technologies can impact the Sustainable Development Goals. Developed in association with PA Consulting, this section will evolve over the next month to look across 12 technologies ranging from Robotics to Blockchain.
NASSCOM also did a survey of 120+ technology buyers and interviewed over 30 Indian tech providers (CEOs/Leaders from Indian Tech companies) to gauge their priorities across key technologies. As per the survey responses, tech buyers expects the share of emerging tech to grow by 3X in next 4-6 years, driven by higher efficiency, enhanced customer experience, and accelerated product development cycle. Interestingly key technologies such as Autonomous Analytics, Edge Computing, 5G/6G & Deep Learning have emerged as top 5 business priorities for tech buyers. However, for technology providers supplier priorities differ across technologies and regions. Large firms are diversifying their bets by focusing both on technologies with established use cases(5G/6G), and investing in nascent technologies to gain leadership position(Deep learning and Computer Vision), whereas mid-size firms and digital firms are selective on big bets, either focusing on few emerging areas or going deep in select technologies.
"Emerging technologies have evolved as the nucleus for businesses across segments. It has helped them navigate through the unprecedented challenges of the digital era while allowing them to achieve a competitive advantage", said Ms. Debjani Ghosh, President, NASSCOM. "Going forward, it will be interesting to see how businesses will put their bets on emerging technologies and how they would be taking ahead the tech revolution for the larger good of the society."
To continue to thrive and succeed tech firms need to reassess their current positioning and define a winning strategy. Firms need to act fast as cracking the right strategy can lead to windfall gains, but delayed action can prove detrimental to growth. Focusing on defining where and how to prioritize resources and acquisitions to speed access and close capability gaps, building critical capabilities to support future direction, and debottleneck constraints will ensue firms to realize the largest potential of these technologies in the future.
Using virtual technologies delivers significant improvements in the areas of cost, time and quality. With VR, product designers and engineers have the ability to explore options that would have been cost- or time-prohibitive in the past.
While the term disruptive technology might conjure images of HiTech advancements that create new market opportunities, we use many disruptive technology examples in our everyday life without even thinking about it. Human advancement as we know it has been shaped time and time again by the introduction of new disruptive technologies.
A simple definition of disruptive technology is an innovation that dramatically changes how consumers, businesses, or industries operate on a daily basis. A disruptive innovation replaces existing models because of its superior attributes. However, it is essential to note that in some cases, disruptive technologies do not completely eradicate the technologies they are replacing.
It may surprise you to learn that, generally speaking, startups are the companies that tend to embrace and drive disruptive innovations in the early stages. This happens for several reasons. First, startups typically have less of an established customer base to cater to and please. This allows startups to innovate and target smaller, more often overlooked segments of the existing market.
Second, smaller companies, especially startups, are more likely to take a chance and try something new since they have more flexibility to adapt to rapid changes. Large, well-established companies often lack the flexibility to adopt disruptive technologies quickly.
Disruptive technologies have a lot of potential, but not all disruptive technologies will be widely adopted and successful. The key for business leaders trying to harness the power of disruptive technologies is to weigh the risks of adopting innovations into their processes and operations against the likelihood that adoption will help them capture more of the current market or new markets.
Some businesses might decide to wait until others prove the value of disruptive technology. Still, these companies risk losing their share of the existing market to their competitors that have found a way to adopt disruptive technologies.
There are so many examples of disruptive technology. We have already highlighted a few major disruptive technologies such as the radio, television, and the automobile. Next, we will highlight examples of disruptive technology that are currently shaping our existing industries.
While IoT depends heavily on the cloud, this technology is also disruptive in its own right. The Internet of Things refers to the various things that are now connected to the Internet and capable of sending and receiving data via WiFi, LAN, or cellular networks. IoT devices include smartwatches, smart home devices, virtual assistants, etc. These devices have changed the way businesses and individuals collect data.
Many of the disruptive digital technologies that are easiest to point out are the ones that provide entertainment, such as the radio or television. But, of course, Virtual Reality (VR) and Augmented Reality (AR) have more potential than entertainment. Still, in the entertainment and gaming sectors, these technologies will be most widely used and adopted by the general public.
AI capabilities are steadily improving and driving the adoption of business intelligence solutions. Artificial Intelligence is poised to be the most disruptive technology to the respective industries that adopt it as its capabilities continue to improve. AI and Machine Learning have the potential to dramatically change every aspect of our daily lives.
New computational technologies are making computers smarter. They enable computers to process vast amounts of data faster than ever before, while the advent of the cloud has allowed businesses to safely store and access their information from anywhere with internet access. Quantum computing technologies now in development will eventually make computers millions of times more powerful. These computers will have the potential to supercharge AI, create highly complex data models in seconds, and speed up the discovery of new materials.
Across the planet, people in every culture, in every economic group have seen their lives improve dramatically, directly because the development and deployment of digital technologies and networks.Louis Rossetto
Many of the most enthusiastic experts made this argument: The advancement of knowledge in health and science globally and the potential future well-being of billions will be dramatically improved by the way digital technologies enable people to create, share, discover, monitor and remotely enable real-time actions.
AI and machine learning have reached a critical tipping point and will increasingly augment and extend virtually every technology enabled service, thing or application. Creating intelligent systems that learn, adapt and potentially act autonomously rather than simply execute predefined instructions is primary battleground for technology vendors through at least 2020.
AI and machine learning (ML), which include technologies such as deep learning, neural networks and natural-language processing, can also encompass more advanced systems that understand, learn, predict, adapt and potentially operate autonomously. Systems can learn and change future behavior, leading to the creation of more intelligent devices and programs. The combination of extensive parallel processing power, advanced algorithms and massive data sets to feed the algorithms has unleashed this new era.
While there are a number of virtual reality headsets on the market today, such as the Oculus Rift, the reality is that for VR to become a truly mainstream phenomenon, far more consumers will need to purchase VR headsets than already have done. And not just for gaming.
The research confirms that, around the world, healthcare is changing and the public is ready to embrace AI and robotics for their healthcare needs. The majority of consumers are willing to receive care from these advanced technologies, which have the potential to transform healthcare delivery to make it better, faster and more accessible for all.
Such emerging technologies currently being used in the health sector in other countries can also play a huge role in transforming the Irish health system. Technological innovations brought about by robotics, virtual reality (VR), automation, AI, 3D printing and drones are all worth investigating, having the potential to disrupt the health industry and ultimately improve it.
In Ireland, this technology is very much still in development, and cost and regulation will have to be considered. It is, nevertheless, an indication of what is possible with enormous potential benefits. 350c69d7ab