Guest Post - Disruptive Innovation: How Emerging Technologies Are Affecting Incumbent Industries
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With the implementation of emerging technologies, companies have improved their working methods. They've been able to increase their productivity and design better products. But, as the tech market continues to grow fast, the need for skilled candidates has increased.
Nowadays, the requirements of employers are higher, and having technical skills has become essential to get hired. Disruptive innovation has had a positive effect on companies but not so much on employees. Some workers have been losing their jobs because their skills are no longer needed, or they just became obsolete.
In this article, we're going to discuss how emerging technologies are affecting incumbent industries. As a result, you'll know more about new technologies and how you can adapt to stay relevant these days.
Many organizations have been using machine learning to provide better experiences and products. As it allows systems to learn from experience, they can become better at any specific task.
Machine learning has been implemented in many sectors, from the healthcare industry to government agencies. In the healthcare industry, machine learning is helping doctors not only in pre-visit diagnoses but also during surgery. AI-powered systems can analyze patients' symptoms to help doctors make more accurate diagnoses.
During surgery, AI-powered robots allow doctors to implement the best practices and save more lives. As they can analyze data from previous operations, they can suggest better techniques.
In the online retail industry, machine learning is being used to make recommendations based on previously searched products. For example, Walmart is a company that uses machine learning to give customers a better shopping experience.
The same happens in social networks like Instagram. The mobile app uses machine learning algorithms to show users new posts based on their "likes." Companies have been able to increase their profits, but not everything is so bright for employees.
As automated systems are becoming more popular, the need for employees like sales representatives is decreasing. Customers are now making their purchases online. For that reason, digital marketing has changed the way companies operate.
If you're looking for a new job or you want to update your skills to stay relevant, you can enroll in Thinkful's online coding bootcamp. The company offers courses that allow you to learn machine learning and digital marketing skills.
Additionally, as Thinkful is dedicated to its students' success, you'll receive help from a career support team during each course. Adding machine learning skills to your toolbox will help you to get hired in the online retail sector and the automotive industry as well.
Companies from the automotive sector, like Tesla and UPS, have implemented machine learning algorithms in their vehicles. For example, Tesla's cars use cameras and sensors to gather information and identify real-life objects. As a result, they can learn how to drive and do it safely.
Internet of Things
The Internet of Things, or IoT for short, is a disruptive technology that has affected almost every industry in the world. In the healthcare industry, it's playing a pivotal role in monitoring patients' health. Smartwatches can gather information like heart rate, blood pressure, and even oxygen level.
For example, Garmin Venu is a smartwatch that comes with a Pulse Ox sensor. The sensor monitors your blood oxygen saturation levels during the day and records each measurement. This smartwatch also comes with a body battery energy feature that allows you to know when's the perfect time to work out or rest.
In the home improvement sector, the Internet of Things is taking big leaps. As world-class companies are promoting smart homes, more customers are using IoT devices to automate their houses.
For example, companies like Samsung and Amazon have designed virtual assistants to help customers with their in-home tasks. Today, many tech devices like TVs come with Alexa built-in features. Amazon's Alexa makes customers' life much more comfortable as they can control any device using voice commands.
For the retail industry, the use of smartphones has become standard. As more customers have time constraints, they don't even use their desktop PCs to shop. Using mobile apps, customers can make their purchases in only a few minutes.
Also, more customers are making their shopping online because companies like SkatePro are implementing Paypal's QuickPay feature in their apps. While more customers use tech devices to shop, employees like cashiers are losing their jobs.
Learning mobile development skills is an excellent option to become relevant these days. As the demand for sophisticated mobile apps is increasing, it can help you to increase your opportunities. At General Assembly, you can learn in-demand programming languages to become an iOS or Android Developer.
Many companies have implemented augmented reality in their products as its changing the world as we see it. In the retail sector, it's been widely used by companies like Home Depot to allow customers to have 3D previews of products. By using their smartphones, customers can see how a product like a sofa, for example, fits in a room.
In the travel industry, apps like Google Translate are helping tourists during their trips. As the app uses augmented reality to translate text in real-time, understanding what a sign says is no longer a barrier. Google's Word Lens function can also translate long texts like documents, which can be very helpful when booking in a hotel.
In the healthcare sector, augmented reality has been used to improve blood draws. Accuvein is a company that has developed augmented reality devices to help doctors and nurses visualize veins. For example, Accuvein AV500 uses infrared technology to detect where veins are placed. As the device can display a "roadmap" of the veins, nurses no longer make "blind sticks" on patients.
Emerging technologies are indeed transforming the world. They are creating a whole new market as well as making our lives easier. Given that, if you want to overcome future challenges, you'll need to adapt. Remember that the tech market is a fast-growing industry that is reshaping our future.