Vivek Wadhwa of Singularity University returns to Big Think today as part of today’s featured video interview. The topic is disruption: the phenomenon that occurs when radical innovations ignite revolutionary or evolutionary change in an industry.
A simple example of this is what services like Lyft and Uber have done to disrupt the taxi industry. On a larger scale, cell phone technology has disrupted communications to the point that the private landline has gone the way of the dodo.
“Every industry I’ve looked at I’ve seen a trend of major disruption happening. Manufacturing is the most obvious. With robotics and 3-D printing, as of this year, it is cheaper to manufacture in the United States than it is in China. It is cheaper to manufacture in Europe than it is in China.”
Many westerners have lamented the recent outsourcing of manufacturing jobs to places like China. Wadhwa explains that automation is going to once again make manufacturing a local industry, although those human jobs don’t return with them. This is because operating costs will soon dip below what it costs to pay humans, meaning there will be no reason for major corporations to maintain international facilities that exploit cheap labor. That’s good for the U.S., Europe, and much of Asia, Wadhwa says. It’s not so good for China.
The switch to automated manufacturing is just the tip of the iceberg as far as that industry’s disruptions go. Over the next few decades we’ll see manufacturing get a major facelift:
“Within 15 to 20 years we’ll be able to 3-D print electronics. So imagine being able to design your own iPhone and print it at home. That is what becomes technically feasible in the 15 to 20 year timeframe. So you’re talking about major disruption happening to manufacturing in the short-term and then even greater disruption happening in the long term.”
Wadhwa explains that innovations such as crowdfunding and Bitcoin represent disruptions to the financial industry as well. Banks, he says, will have to reinvent themselves if they want to stay in business. Experiments involving crowdfunded loans are already being made outside the U.S.
The Latest on: Tech Disruptions
via Google News
The Latest on: Tech Disruptions
- The disruption that fuelled the growth of Indian tech startups during the new normal and the road aheadon January 19, 2021 at 6:45 pm
Indian tech startups have led the digitalisation of both Indian consumers and enterprises. Even as COVID-19 brought most of the world to a standstill, nothing came in the way of Indian tech startups.
- High-tech indoor farmer AppHarvest starts shipping tomatoeson January 19, 2021 at 12:30 pm
AppHarvest - an indoor farming company backed by Martha Stewart - thinks the agriculture sector is ripe for disruption. And now, its tomatoes are ripe for eating.
- Zoom and Google Outages: How Schools Should Prepare for Tech Problemson January 19, 2021 at 12:18 pm
Technology breakdowns are inevitable. Here's what schools should do to prepare to keep instruction going when tech is not cooperating.
- Amid Pandemic Disruption, Professionals Seek New Job Skillson January 19, 2021 at 11:25 am
The COVID-19 pandemic has been a period of significant professional disruption around the globe, not just for frontline workers who are spending long hours in harm's way, but also for office workers ...
- Residents around Mar-a-Lago brace for major disruption as large moving trucks spotted outside Donald Trump's clubon January 19, 2021 at 10:12 am
A USA helicopter and Palm Beach County Sheriff's Office helicopter hovered over the beachfront resort, while law enforcement patrol boats kept eye out offshore ...
- Boston Digital Releases Quarterly Sentiment Survey on Tech Trendson January 19, 2021 at 8:00 am
Boston Digital, a leading digital marketing agency with a client base including many of Boston's up and coming tech companies, today ...
- Application deadline for Global Disruptive Tech Challenge 2021 extendedon January 19, 2021 at 3:37 am
KAZINFORM The application deadline for proposals has been extended to 24 January, 2021. This is your chance to earn recognition and up to US$ 4,000, showcase your idea before a global audience and ...
- Tech Adoption puts top Indian banks at a low risk of digital disruption: S&Pon January 18, 2021 at 4:15 am
Tech Adoption puts top Indian banks at a low risk of digital disruption: S&P India's digital disruption poses a relatively low risk to ...
- REUTERS NEXT-COVID-19 fuelling education's tech disruption, deepening digital divideon January 14, 2021 at 7:58 pm
The COVID-19 pandemic deepened inequities in accessing and benefiting from education but the future of learning could be a more equal one, participants told Reuters Next panels on Monday.
- Disruption, not regulation, should be Tech The biggest concern of companieson January 13, 2021 at 8:14 pm
Disruption, not regulation, should be Tech The biggest concern of companies Research by Bain & Co shows that the turnover of the ...
via Bing News