The New Wave of Innovation Will Bring Tech Disruption -- Will Your Business Be Ready?
People are no longer talking about whether you are on the internet. It's assumed that you are connected, even if you are 30,000 feet in the air or vacationing on a remote island.
For our stress levels, this may not be so great. But, for entrepreneurs this pervasive connectivity is what will lead us to the next stage of innovation. As more devices get connected, as more consumers get used to the idea that they are connected almost automatically, and all the data is being collected into the cloud, a new wave of innovation will take off, impacting economies all over the world.
To Jenny Lee, managing partner at GGV Capital in Shanghai, China, this is the “real technology disruption,” and it will lead to whole new categories of consumer products. If the first waves of innovation were around changing consumer behavior, and mobile technologies, the next wave will be more tangible in nature, enabling advanced industrial design and new products. It’s everything from self-driving cars, to flying cars, robotics and AI. Lee, who once worked in jet engineering, sees a new set of hard problems for entrepreneurs to solve to get there.
For instance, even if the thorny technical and regulatory issues are solved around a self-driving car, there will be a moment of truth where individuals will need to decide if they can go against their own instincts for control and get into that autonomous vehicle.
Once that happens, we’ll be entering into a new era of futuristic products. And the startups that embrace the potential of this disruption -- and the role that data will play in it -- will be best positioned to profit, Lee says. Innovation is changing, and it’s up to entrepreneurs to grab hold of this change and turn it into new businesses.