Disruptive Technologies Impacting Global Businesses
Disruptive technologies are having a huge impact on global businesses. In a recent report, Goldman Sachs mentions some of the key revolutions taking place within the technology space. These include:
E-Commerce platforms: The growth of e-commerce will see the first real digital generation coming into its own, says the report. According to Goldman Sachs research, with online shopping occupying a larger share of the retail business in the coming days, digital commerce is anticipated to further accelerate, with annual growth reaching nearly 17% in the next three years.
Advanced Healthcare technology: Doctors have been able to use technology to detect diseases as varied as cancer to other infectious diseases early. Goldman mentions Massachusetts-Based Hologic which has a “3-D mammographic technology” that allows doctors to detect minuscule cancers that they previously wouldn’t have been able to detect.
Cloud computing: The shift to cloud computing has been a game changer in the enterprise, according to the report. This game-changing technology has enabled the storage and sharing of huge volumes of data, the birth of entirely new business models and the ability to work collaboratively from any location around the globe, it says.
Tech companies becoming impactful: The report states that technology companies are some of the world’s biggest companies with businesses that have the most impact. They’re growing faster than many of the companies that came before them, and arrive at critical decision points more quickly, it states. citing Twitter’s example, it states, in November, we were the lead underwriter on Twitter’s $2.1 billion IPO. The company now has 241 million active monthly users who, among them, send more than a billion tweets every two days.
Monetization of mobile: Smartphone and tablet sales are outpacing PCs and laptops. And companies cognizant of this are trying to capitalize on mobile “whether in mobile payments, mobile content, location-based services or the explosion of valuable data generated by the use of mobile devices.” There’s a lot of scope for companies to monetize this. The question is, who can best take advantage?” says James Covello, head of Technology, Media and Telecommunications Equity Research at Goldman Sachs. “Whether we’re talking about consumer transactions or social networking, which companies will benefit the most from the ubiquity of compute?”
Pervasiveness of technology: The pervasiveness of technology is creating extraordinary opportunities for business formation on a global scale. “The ubiquity of online access has dramatically increased opportunities for creating businesses,” says Anthony Noto, global co-head of our Technology, Media and Telecommunications Group in the Investment Banking Division, adding that companies are now really focused on meeting the needs of consumers who are walking around with very capable computers in their hands. That pervasiveness of technology is driving change at an unprecedented level and pace.”
Next wave of disruption: 3-D printing, big data solutions and software-defined networking (SDN) are the next wave of disruptive technologies to watch for, says the report. “3-D printing will drive greater customization, reduce costs for complex designs and lower overhead on short-run parts, while SDN liberates networking from expensive hardware, making it easier and cheaper for technology administrators to respond to changing business needs,” it says. big data will attract even greater demand, as it will help companies get a better sense of customers’ needs and identify important market developments and product trends.
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