Increased reliance on the Internet, communications technology, and raw computing power reinforce the belief that technology is not just the answer, but for some people the only solution for any problem or issue you may run into on a day to day basis.
However, some may argue that this “tech phenomenon” has simply increased reliance on tools that have transformed traditional business models, business culture, and essentially redefined what “advancement” actually means to striving entrepreneurs.
The search for the next disruptive technology has been replaced with finding the next Facebook, Uber, Twitter or Angry Birds. Many argue that these companies in fact are not completely disruptive in nature Although novel concepts, it is clear that some of these companies have designed services or products to further advance existing processes and platforms to help with a task instead of changing the industry entirely. In other words, these newer forms of technology are not as disruptive as consumers expected.
For example, the creator of Siri launched an AI platform that acts like a digital assistant. Also, Dog Parker puts dog houses outside shops so pets are safe while their owners shop, making the consumer experience for dog owners more convenient in the public space.
Similarly, Google recently announced plans to deliver virtual assistants and messaging apps that incorporate AI technology to compete with existing technologies companies such as Apple, Facebook, and Amazon.
Within the financial tech industry, it is more likely though that the experiences of fintech in mature markets like China and the US will serve as good guides as to how this business will grow. However, there is pressure to put more measures in place to regulate various systems in this process. And the jury is still out as to whether traditional banks here will lose significant parts of their businesses to fintech start-ups.
While recent disruptive technologies have altered how we interact with the cab industry or sometimes how we socially engage in the digital space, the future of this industry can potentially take the shape of reducing world issues. As the millennial generation becomes increasingly ethically aware and active, newer disruptive technologies can positively affect and improve the human condition instead of just making the transportation experience more convenient for commuters.
Today’s complex environments require human innovation to create truly disruptive technologies. The only way to increase technology’s impact is to leverage and further utilize human intelligence. The future of disruptive technology may potentially shift focus to improving the world we live in and decrease global health issues instead of making lives even more convenient than they already are.