Disruptive Technologies

Disruptive Technologies

Disruptive technologies are moving forward in the economy, leaving behind businesses that can’t adapt and evolve. There is no way of protecting a company from disruption, but here are a few steps you can take to adapt to technology and move forward for good.

What are Disruptive Technologies?
Disruptive technology is an invention that replaces an established technology. It fundamentally transforms the way products, markets, or companies work, and creates an entirely new industry. Disruptive development blows out the structures or behaviors as it has superior qualities. Current manifestations of emerging technologies cover e-commerce, web news outlets, ride-sharing services, AI, GPS systems, blockchain, etc.

The automotive industry, energy, and broadcasting were, at one time, revolutionary innovations of their day.

Even a start-up with little funding may try to challenge technology by creating a whole different way to get things accomplished. Some businesses prefer to rely on what they know and seek gradual progress rather than radical changes. They respond to their most significant and most competitive customers.

Get Clear About What Business You Are In
Each corporation can describe its market in terms of detecting the needs of its customers and giving solutions and satisfying their requirements, not for its goods, services, or distribution mechanism.

To this purpose, businesses need to recognize the services that their clients need and how to improve them. A company cannot accurately assess new technologies or other innovative product unless it has acknowledged this.

Understand the Disruptor’s Advantages and Your Own
Organizations that successfully respond and engage in changes learn to distinguish how the disruptor suits consumers better than their products.
For instance, Fifth Third Bank is in 12 nations. The bank has confirmed that it will shutter 100 of its 1,300 branch offices. While individuals used to go to bank branches for check deposits, they’re now depositing checks with their mobile phones. At the very same time, even so, the bank has realized that people still want to speak to a bank manager face-to-face about more financial management processes, like home financing, retirement planning, and college savings.

Through recognizing which tasks mobile banking will enable customers to perform best and which activities face-to-face communications also encourage more, the bank adapts to and engages in mobile tech disruption. It will contribute to excellent performance for both consumers and the bank, with one caveat. The level of service delivered by online banking will begin to increase, so mobile banking will start to eat away from other branch services.

Disruptive technologies will always be part of the economy. Stay vigilant and be able to let go of the old ways. In individual businesses, the fear is not that new technology would make their services redundant. Instead, the threat is that companies will not recognize the advantages of disruptive technologies over their own, which will strictly limit their capacity to evolve and take part in the disruptive economy.

References:

Andrews, S. (2019). Ifc.org. Retrieved 29 May 2020, from https://www.ifc.org/wps/wcm/connect/8c67719a-2816-4694-9187-7de2ef5075bc/Reinventing-business-through-Disruptive-Tech-v1.pdf?MOD=AJPERES.

The Future of Work: The Impact of Disruptive Technologies on Jobs and Skills | UCOP. Ucop.edu. (2018). Retrieved 29 May 2020, from https://www.ucop.edu/innovation-entrepreneurship/innovation-resources/dr-christine-articles/the-future-of-work.html.

Marous, J. (2018). 10 Technologies That Will Disrupt Financial Services In The Next 5 Years. The Financial Brand. Retrieved 29 May 2020, from https://thefinancialbrand.com/77228/technology-trends-disrupting-financial-services-banking-future/

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(StatePoint) Last year’s long and brutal winter depleted road salt supplies throughout much of the U.S. As a result, a number of cities have experienced significant price spikes when placing their salt orders this year. At a time when experts are highlighting the environmental and infrastructural damage caused by excessive salt use on roads, new technologies are helping American communities reduce their growing dependence on salt, while still keeping roads safe.

The U.S. spreads up to 22 million tons of salt per year, a large portion of which finds its way into rivers, streams and soil. Numerous environmental groups and universities have documented the tremendous damage that road salt does to soil conditions, water quality and wildlife. What’s more, excessive road salt also damages roads and bridges, creating the need for millions of dollars’ worth of repairs nationwide every year.

Experts say all this salt is not necessary, pointing to Europe where, thanks to smarter technologies, less salt is spread on roads without comprising safety, even in countries with significant snowfall.

“The U.S. lags Europe by at least a decade in the adoption of smart salt spreading technologies,” says Marcus Scherer, senior vice president of research and development for Aebi Schmidt, manufacturer of Swenson smart spreaders. “Heavier, wetter salt sticks where it is put down and jump-starts the melting process. However, we still see some municipalities in the U.S. using dry salt, which is highly inefficient because it bounces or blows off the road before it has a chance to work. Even those U.S. cities that do use wet salt primarily use a mixture that’s less efficient than those used in Europe — as little as a 5% brine mixture in the U.S. as compared with Europe’s 70:30 ratio which includes 30% brine.”

Scherer goes on to explain that most salt spreaders currently on the road in the U.S. cannot handle the preferred mixture used in Europe, largely because their pumps and tanks aren’t large enough to accommodate the additional brine. In addition, they don’t offer precision placement technologies that carefully and consistently spread salt on the primary driving surfaces. Instead, they randomly drop excessive amounts of salt.

Experts say that smarter salt spreaders offer a variety of spreading patterns to cover multiple lanes simultaneously, allowing for greater coverage in less time so that salt trucks don’t need to make multiple passes to sufficiently clear the roads. As a result, roads can be driven on safely without delay, reducing labor time and related costs, which is attractive to budget-strapped municipalities.

According to Scherer, several cities in the U.S. have already incorporated smart Swenson spreaders into their fleets and have documented salt and labor savings as high as 35%. Such success opens the door to additional testing in other markets, especially given the public’s increased focus on the environmental impact of road salt and the growing burden of rising salt prices on city and department of transportation budgets.

For more information on the latest smart salt spreading technologies, visit spreadsaltsmarter.com.

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