Technology evolution is the key to the fast-growing world. Innovative ideas always push the limits and convert impossible thoughts into reality. The history of innovations is piled up with amazing examples of disruptive technology and as we move through 2023, the circumference of the disruptive ideas continues to enlarge at a remarkable pace.

Disruptive technology transforms everything from autonomous vehicles to quantum computing, lifestyle to entertainment, engineering to manufacturing, transportation to communication, individual shops to disruptive business models, and beyond.

What Is Disruptive Technology?

Disruptive technology is a cutting-edge innovation that significantly transforms the operating model of consumers, industries, or businesses. Disruptive technology is often referred to as disruptive innovation. The term disruptive technology was originally mentioned by Professor Clayton Christensen in 1995 in his book The Innovator’s Dilemma in 1997.

In terms of business, disruptive technology is an extraordinary development of the model that allows a new contender to service a lower market segment that incumbent contenders do not foresee due to lower profitability. With advancements in disruptive technology, the quality of the service or product significantly improves.

Here are the 6 amazing examples of disruptive technologies that you should keep on your radar to ensure your business thrives in this age of disruptive innovation in 2023

In Previous Years Internet of Things (IoT) Artificial Intelligence (AI), Augmented Reality, and BlockChain have already demonstrated the tremendous capabilities and potential, those technologies have, even though it is just an initial phase for those disruptive technologies but there are other emerging technologies that are often overlooked by the world. These emerging technologies also have the potential to completely disrupt the aerospace, healthcare, and manufacturing sectors. The young entrepreneur must not overlook the potential of these 11 examples of disruptive technologies, that are transforming industries and businesses in the era of innovations.

1- 3D Printing or Additive Manufacturing

Cutting-edge innovation for Home 3D printer’s homes enables the real breakthrough that will come from commercial 3D printers. Additive manufacturing or 3D printing naturally reduces the amount of waste on the production side by constructing a 3D object from a digital 3D model (CAD model). The additive manufacturing process creates successive layers of material until the desired object is created. Not only is there a reduction in waste, but there can also be a massive reduction in weight. Some of the 3D printing companies claim to have created titanium with a 63% reduction in weight compared to traditionally produced titanium. The benefits of shipping, where product weight is often the highest cost factor, cannot be understated.

2- Online Shopping

Online shopping was not much popular until Amazon entered with a disruptive innovative idea in the domain of online shopping. Amazon had grown to become the one-stop shop for practically everything you need. Now online shopping is just one click away for everyone. The Disruptive ideas of online shopping have enabled the opportunity to grow from the ordinary buyer and seller to the smart buyer and seller while maintaining the fundamental concept of demand and supply. After Amazon, there are thousands of brands have jumped into the ocean in the online market and still there are several opportunities in the field of online shopping.

3- Online streaming

Netflix is another disruptive innovation brand in the world. They initially started as a pretty boring concept, mailing out DVDs to customers who wanted a blockbuster-like experience at home. But now every media channel and entertainment banners are in the race for online streaming.

Few online streaming ideas:

• Build an Audience with Your Live Stream Ideas • Spontaneous live sessions • Behind the scenes • Talk about your favorite celebrity or online personality • Cooking live series • Q&A (Question & Answer) • News jacking. • Share your hobbies and passions

4- Ride-Sharing Apps

This disruptive technology has become a mainstream necessity for the present transportation industry. that cab companies — who rallied against rideshare apps for years — are now signing on. The Yellow Cab has also signed an ally with the Uber app.

Uber a rapidly growing ride-sharing service, has become the poster child for disruptive innovation. The traditional taxi cab business has suddenly been changed forever by a mobile platform connecting consumers who need rides with drivers willing to provide them.

A customer no longer needs to wave down a cab on the street, and a rider with an electronic Uber account does not even need to hand over cash. The trip is usually cheaper because regular cabs have to charge more to cover the huge upfront investment in a taxi license costing up to $800,000.

Now the world has accepted the disrupted technology with open hands. Europe is leading in car sharing across the continents, with 46 percent of the world’s membership and 56 percent of its fleet. North America comes in second position in the car-sharing market, with 34 percent of worldwide members and 23 percent of its fleet.

5- Hyper-personalization

Hyper-personalization is most effective when brands have a thorough understanding of their customers. A brand using hyper-personalization tools can find a customer in its database and send contextualized messaging at the optimal time and place as an act of product targeting.

Key components of Hyper-personalization:

 

• Advertising: The customer starts the engagement by shopping online. The retailer targets the customer with unique ads that render relevant products or customer information with welcoming language and useful directions.
• Landing pages: The retailer with the right hyper-personalization tools can launch a customized campaign using data that details where customers are located, past visits, geographic data, and their preferences, including related products.
• Recommendation engines: The algorithm detects certain data points and presents content, product, or service recommendations tailored specifically to the customer.
• Omnichannel customer service: Databases and AI recognize and connect customers from both online and offline shopping channels.
• Service chatbots: Through more data harvesting, conversational AI technology learns customer behavior and delivers personalized services.
• Dynamic pricing and offers: Retailers reel in or — more appropriately — identify a customer and present them with changes in the offer, promotion, or price.
• Pre-populated applications: To speed the process, existing customer data can be used to pre-populate required documents, processes, or applications.
• Real-time product notifications: Customers make the purchase, then they are updated on shipments, promotions, or re-orders based on their purchase history.
• Loyalty programs and re-engagement: The original transaction creates historical data. Going forward, the customers’ purchases, segmentation, and data can determine contextualized offers and messages from the retailer.

 

6- AI-based smart assistants

An AI virtual assistant, also called AI assistant or digital assistant, is an application program that understands natural language voice commands and completes tasks for the user.

The Artificial Intelligence-Powered Virtual Assistant uses advanced Artificial Intelligence (AI), RPA, natural language processing, and machine learning to extract information and complex data from conversations to understand them and process them accordingly.

An AI virtual assistant, also called AI assistant or digital assistant, is an application program that understands natural language voice commands and completes tasks for the user.

The Artificial Intelligence-Powered Virtual Assistant uses advanced Artificial Intelligence (AI), RPA, natural language processing, and machine learning to extract information and complex data from conversations to understand them and process them accordingly.

Conclusion

Writing this article has made me reflect upon just how quickly technologies evolve. Businesses rise and fall with new technological innovations. If they do not adapt quickly, they will become redundant.

Thus, large companies that seem indestructible today may be eclipsed by smaller, more agile companies that are able to position themselves in the markets of the future. Opportunities will continue to arise for companies that choose to make the most of the next disruptive technologies that enter the market.