This article was first seen on – http://betanews.com/2014/08/12/what-makes-a-disruptive-technology/
According to Clayton M Christensen, author of The Innovator’s Dilemma, disruptive innovations are characterized by their ability to create entirely new markets rather than merely update existing markets with new products. They are black swans, rare events where new thinking and changing markets combine to create radical change.
A common example is the light bulb and Pearl Street Station — a major gamble by Thomas Edison. Within years of its development the kerosene lighting industry was all but non-existent, and the world was a brighter place. (The kerosene industry had similarly put an end to the whaling industry — thankfully — a few decades earlier).
Disruptive innovations also tend to involve making things simpler and cheaper than the alternatives, with unexpected results on multiple sectors. The motor car in the late 1800s was too expensive to be disruptive, but Henry Ford’s innovations in the 20th century made it cheap enough to replace the horse drawn carriage (and suddenly there were no more street dung collectors providing manure for farmer’s crops…)
My company, VisualDNA, sits at the intersection of (at least) four disruptive innovations that have arisen over the last five years and that are already making their impact on global society.
I believe that as these four innovations continue to evolve over the second half of this decade, they will create the perfect conditions for VisualDNA’s unique approach to understanding people to create disruptive change on a global scale, across all industry sectors.
1. Big data
Five years ago this term almost didn’t exist but it is now one of the fastest growing ‘most searched for’ terms on the internet (according to Google Data Trends). Analysts Wikibon predict this new sector will grow from almost nothing in 2010 to $50bn dollars by 2017. A report by PAC predicts big data will impact on every aspect of the global economy during the same period.
PAC also found that the fastest growing area of all will be in services to understand big data. Most big data is historical and transactional. Understanding personality, psychology and motivation are the missing ingredients that will enable deep understanding of intent and truly predictive analytics.
VisualDNA’s unique ability to engage users and turn their personality into digital form will be at the forefront of providing this vital information to power conventional big data.
Psychology is undergoing a number of dramatic changes as new technology allows us to understand how the brain and personality are linked. Neuroimaging allows us to visually track the workings of the brain and identify how different responses and our emotions work at a chemical and neuron-level. Daniel Kahneman’s work on decision-making and behavioral economics is just starting to make itself felt in the mainstream and will become increasingly influential as real-time big data allows us to understand and model human responses at a macro level. Computer scientists are developing ever more sophisticated simulations and models of the brain allowing experiments and analysis to be performed, changing the way we see the brain and raising the possibility of truly understanding ‘what makes us tick’.
As this understanding develops, it will have a major impact on our understanding of people and how they behave. VisualDNA is already leading the way in understanding how individuals behave online, and through our partnerships and research we will continue to be at the forefront of these developments. [Read more…]