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The Impact of Disruptive Industries on the Economy

   

Added on  2019-09-26

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Running head: How Disruptive Industries Affecting the EconomyHow Disruptive Industries Affecting the Economy[Document subtitle][DATE][COMPANY NAME][Company address]

How Disruptive Industries Affecting the Economy1IntroductionIn this present paper we will discuss the impact of “Disruptive Industries on the Economy”. It is generally state that the innovation in terms of technology has been seen at the level of firm productivity in terms of financial gain and the economic growth of industries. Recently we are inthe digital economy that will be critical time for the organizations a s well as for the economies. The concept of digitalization has been integrated in terms of the current scenario and the role thatis played by the disruptive industries in transforming the economy will lead to shift in the organizational structures and to maximize the impact of new technologies in terms of economic growth and diversification. This concept of disruptive technology has been described by Solow(1956) and Romer(1990) in the terms that the more productive firms will act as a displacement in the current business scenario. The rise in the economic growth of the second industrial revolution which leads to higher standard of living is seen as the technological innovation. The role of technology has beenseen in the emerging market economies (EME’s)in relation with advanced economies which is notably seen in the high growth East Asian countries(Leipzger,1993) which will be done throughlearning and using technologies from abroad in successful resource mobilization and the buildingup of physical and human stuff.How Disruptive Industries Affecting the EconomyThe inexorable parade of new technologies is describing on many fronts and terms. Almost everyadvancement is done in terms of the proper breakthrough and continuing the list of various new things that will make things bigger and growing.in terms of emerging technology we can say thatnot every technology is altering the business in terms of social advantage, which will have an impact on the status, cost of living and it will also rearrange the values in terms of digitalisationCable (Cable,1980).it is of utmost importance to the businesses and the policy makers leaders to make it understood that what technologies will matter to them and accordingly makes plans and policies for further proceedings.In the latest survey conducted by mc. Kinsey, the applications of the twelve technologies that were discussed in the report has a potential economic impact which will range from fourteen trillion dollars to thirty-three trillion dollars till the year 2025. The findings are neither based on prediction or on the comprehensiveness, but it is based on the in-depth analysis of the potential applications which would create the consumer surpluses in terms of better products, low prices, the better environment and good health. (Cooke ,2001)This report also pointed out that these technologies have a massive transformation in economic terms which leads to digitalisation in the recent coming years. The report also stated that how the disruptive technologies in terms of industries will lead to change the world by showing benefits and challenges and providing guidelines to the leaders of different businesses and other similar institutions and economies. The most disruptive industries will suffer typically from the two forces. Firstly the low barriers to entry in the sectors which

How Disruptive Industries Affecting the Economy2leads to more active competition. Secondly, they have the large business models which lead to the generation of more and more revenue in terms of change. These organizations have embedded the cultural and organizational challenges when it comes to changing the pace that is required.Advanced roboticsThe enhancement of robotic tools with enhanced “senses," intelligence and agility, can make the tasks gentle and financially more stable in terms of automation. The advanced robotic technologies will create the significant benefits in terms of social awareness and help to the society, which includes robotic surgeries which make the procedures easier and affordable, as well as the robotic prosthetics that will help in restoring of functions like cutting in operations and excessive pain of the patient. The use of disruptive technologies will also create new trends in terms of digital technologies by meeting the capabilities of humans , which will follow the use of a straight forward application in terms of existing rules and communication patterns in terms of changing an environment.(Kumar ,2009)The concept of advanced robotics will help in creating the exponential growth in terms of computer ability with the same processing power which will helps in getting the quick responses.Nano technology:The use of nanotechnology will involve the manipulation of matter in terms of atomic and molecular matter. The technology is basically applied in the space and in the use of bio technology which is going to play an indispensable role in the economy of any country in the resent level and in the future as well. The two features of nanotechnology that have going to playan important role in the disruption of an economy are:

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