McKinsey on Disruptive Tech

The in-house think tank of the renowned consulting firm McKinsey recently published No Ordinary Disruption: The Four Global Forces Breaking All the Trends. Penned by a collection of McKinsey executives including Jonathan Woetzel, Richard Dobbs, and James Manyika, this new book sheds light on the most significant developments of the coming decades and how they will shape the future of business. Below sits a recap of these “disruptive” predictions.

Energy Storage: The McKinsey authors foresee a world in which the cost of lithium-ion batteries will be a fraction of what they are today. The ramifications will be huge and will extend beyond an increase in the use of electric cars. Renewable energy storage will be greatly impacted and, with it, will transportation and power generation.

Autonomous Vehicle: Autonomous vehicles have been grabbing headlines as of late, and for good reason. The book predicts that million of driverless cars will be on the road by 2025. They point out how the technology is pretty much there, but the legislation on the subject remains the big unknown.

3D Printing - Disrputive Tech3D Printing: 3D printing has been on the receiving end of a lot of media hype over the last few years, but some may have questions if this technology can ever replace the traditional manufacturing process. Dobbs, Woetzel, and Manyika certainly think so, especially if the technology becomes more advanced and less costly. Furthermore, they believe that it could radically alter the manner in which we distribute and consume physical goods. Perhaps, we will be the rights of an electric blueprint at the store and then go home to print the good. The authors also hypothesize that 3D printing will return production power to small-time entrepreneurs as it reduces economies of scale.

Internet of things: As of 2015, the vast majority of our goods remain unconnected to the internet. However, this could change in the next ten years and in a big way. Each year, according to the McKinsey report, more and more of these physical objects will be operated and controlled online. This will result in a massive amount of data that can improve the efficiency of our society.