Disruptive Technologies: Technological Forecasting And Social Change Essay

Question:

Discuss about the Disruptive Technologies for Technological Forecasting and Social Change.

Answer:

Introduction

Technology advancement helps improve the lives of many people. The industrial revolution saw the mechanization of industries and recently information and technologies revolution such as computing, mobile, information and internet technology is transforming the way business operate in the industry. Disruptive technology refers to technology that displaces an already established technology. Consequently, by doing so it shakes up the industry and creates another product that establishes a new industry. The development in technologies in industries has led to the large as well as older companies fighting for their existence. Some of the industries that have been affected by disruptive technologies include; the music industry and the communications industry.

The Music Industry

Today there are an array of ways that enables an individual to not only record but also produce music. However, although there has been tremendous progress in the music industry has not always been like this as initially the people lacked a means to record music. Nevertheless, the invention of electricity lead to the invention of the auto tune, MP3s, tape players as well as MIDI. These technologies contributed to making records obsolete.

The 21st century saw the availing of several options that have completely transformed the industry. Technology progression saw the Digitalisation of music which is currently influencing the music industry significantly. According to statistics, the total global revenues for the music industry in 2016 increased by three percent. The digital revenues on the other hand have increased by nearly ten percent. The reason is because of changes in customer experience due to the movement of music online. The movement has changed the distribution of music thus changing the industry players from record companies to streaming sites such as Spotify.

The new technology transformed recording as well as music production. Additionally, it also changed the channels of distribution of the product. Initially, the musicians were required to be under a music label company so as to be able to exercise their talent. Moreover, music stores were used to control the distribution of the music which meant that the music record labels had the upper hand in the distribution of the music in the market (Wikstr?m, & DeFillippi, 2016).

Additionally, technology has also enabled music to become more accessible to those that can’t afford to go and watch their favorite musicians perform. This is due to the introduction of VR and AR technologies which have made music less exclusive. Consequently, these technologies are also positively disruptive as they provide musicians with the exposure they require to become successful (Wikstr?m, & DeFillippi, 2016).

Lastly, technology has led to the adoption of blockchain traceability which will not only open sales but also make it honest. Technology has made it possible for musicians to receive their appropriate amount for records and events. The adoption of blockchains led to the death of physical sales (Crosby, Pattanayak, Verma, & Kalyanaraman, 2016).

Telecommunications Industry

The telecommunications industry encompasses the telephone as well as internet service providers. The industry has played an important role in the mobile communications and information society evolution. Traditionally, people have always made telephone calls so as to communicate with one another. Although this is today still being practiced as it is the industry’s largest revenue generator, network technology is transforming it to be more about text as well as videos and not the voice. Technology progression has led to the development of a social revolution. The revolution has changed the way businesses and people interact, engage as well as collaborate.

The utilization of mobile as well as smart devices has increased the avenues through which consumers can develop content as well as consume content. Initially, mobile technology involved the utilization of 2G, 3G and 4G technologies. As the technologies advanced they made the previous technologies obsolete and the with the recent roll out of 5G technology, it is threatening the 4G technology (Amin, 2015). The technologies have enhanced communication through various mobile applications, it has provided avenues such as Facebook, Twitter, Instagram which are today being utilized to spread various content. Facebook introduction of a messaging platform in its application made SMS (Short Message Services) redundant or obsolete.

Furthermore, the content is being produced as well as consumed at a faster rate in comparison to earlier decades. The invention of the internet in the 1990s completely changed the accessibility of information. Google and Microsoft, for example, has replaced Nokia and Motorola dominance in the market as they are more popular today (Ghezzi, Cortimiglia, & Frank, 2015).

In conclusion, technology advancement leads to the disruption of various industries either in a positive or negative way. The reason is because the development in technologies in industries has led to the large as well as older companies fighting for their existence However, positive disruption leads to the development of new industries.

References

Amin, M. 2015. Smart Grid. PUBLIC UTILITIES FORTNIGHTLY.

Boccardi, F., Heath, R. W., Lozano, A., Marzetta, T. L., & Popovski, P. 2014. Five disruptive technology directions for 5G. IEEE Communications Magazine, 52(2), 74-80.

Crosby, M., Pattanayak, P., Verma, S., & Kalyanaraman, V. 2016. Blockchain technology:Beyond bitcoin. Applied Innovation, 2, 6-10.

Fan, L., & Suh, Y. H. 2014. Why do users switch to a disruptive technology? An empirical study based on expectation-disconfirmation theory. Information & Management, 51(2), 240-248.

Ghezzi, A., Cortimiglia, M. N., & Frank, A. G. 2015. Strategy and business model design in dynamic telecommunications industries: A study on Italian mobile network operators.

Technological Forecasting and Social Change, 90, 346-354.

Wikstr?m, P., & DeFillippi, R. (Eds.). 2016. Business Innovation and Disruption in the Music Industry. Edward Elgar Publishing.

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