Theme: Business reporting and new technologies

International Relations and World Languages


Done by: Mukan G.B
Checked by:

Kultayeva S.S

genomics—have the potential to truly reshape the world in which

we live and work. Leaders in both government and business must not only know what’s on the horizon but also start preparing for its impact.

Introduction

fronts. Almost every advance is billed as a breakthrough, and

the list of “next big things” grows ever longer. Not every emerging technology will alter the business or social landscape—but some truly do have the potential to disrupt the status quo, alter the way people live and work, and rearrange value pools. It is therefore critical that business and policy leaders understand which technologies will matter to them and prepare accordingly.

global economy, a report from the McKinsey Global Institute, cuts

through the noise and identifies 12 technologies that could drive truly massive economic transformations and disruptions in the coming years. The report also looks at exactly how these technologies could change our world, as well as their benefits and challenges, and offers guidelines to help leaders from businesses and other institutions respond.

in the report could have a potential economic impact between

$14 trillion and $33 trillion a year in 2025. This estimate is neither predictive nor comprehensive. It is based on an in-depth analysis of key potential applications and the value they could create in a number of ways, including the consumer surplus that arises from better products, lower prices, a cleaner environment, and better health.

years and thus will be familiar. Others are more surprising.

Examples of the 12 disruptive technologies include:

Advanced robotics—that is, increasingly capable robots or robotic tools, with enhanced "senses," dexterity, and intelligence—can take on tasks once thought too delicate or uneconomical to automate. These technologies can also generate significant societal benefits, including robotic surgical systems that make procedures less invasive, as well as robotic prosthetics and "exoskeletons" that restore functions of amputees and the elderly.

face of continually evolving technologies, ensure that their organizations continue

to look ahead, and use technologies to improve internal performance. Disruptive technologies can change the game for businesses, creating entirely new products and services, as well as shifting pools of value between producers or from producers to consumers. Organizations will often need to use business-model innovations to capture some of that value. Leaders need to plan for a range of scenarios, abandoning assumptions about where competition and risk could come from, and not be afraid to look beyond long-established models. Organizations will also need to keep their employees' skills up-to-date and balance the potential benefits of emerging technologies with the risks they sometimes pose.

operational challenges (for example, by deploying the Internet of Things

to improve infrastructure management). The nature of work will continue to change, and that will require strong education and retraining programs.

policy makers can use some of those very technologies—for example,

by creating new educational and training systems with the mobile Internet, which can also help address an ever-increasing productivity imperative to deliver public services more efficiently and effectively. To develop a more nuanced and useful view of technology’s impact, governments may also want to consider new metrics that capture more than GDP effects. This approach can help policy makers balance the need to encourage growth with their responsibility to look out for the public welfare as new technologies reshape economies and lives.

are tremendous—but so are the challenges of preparing for their

impact. If business and government leaders wait until these technologies are exerting their full influence on the economy, it will be too late to capture the benefits or react to the consequences. While the appropriate responses will vary by stakeholder and technology, we find that certain guiding principles can help businesses and governments as they plan for the effects of disruptive technologies.