The amount of data that is captured from digital devices , sensors and platforms continues to double every three years according to Moore ’ s Law . While enterprises have already started using big data analytics to disrupt their business models , there is still a lot of underutilized , valuable data across industries that , once taken advantage of , will fuel new discovery and innovation .
3 . Internet of Things ( IoT )
These days , everything comes with some kind of network connection option . This includes our thermostats , TVs , refrigerators and even coffee makers . The real progress is being made in the area of industrial equipment , such as those sold by GE and other manufacturers that have pushed this concept in the last few years . This has led to all sorts of applications , including self-driving cars , self-maintaining and self-repairing industrial machines , and the ability for farmers to monitor crops to a point where they can increase yield by 30 % or more .
4 . Machine Learning
Machine learning is a subset of artificial intelligence . This allows computers to actually learn from experiences , much like humans do . By giving computers access to a repository of digital information generated on the Internet , letting them work from a system of probability using neural networks and providing a continuous feedback loop , the applications for this technology become limitless . Natural Language Processing has also emerged in recent years to further the ability for computers to understand and interact with humans .
5 . Blockchain
Blockchain is a public ledger system that can be used to record any kind of transaction . The ledgers are concurrently stored in multiple locations , and the entries are cryptographically signed to prevent changes . Moreover , Blockchain provides an auditable trail of all the transactions and removes the need for a trusted middleman . The use cases are many when one considers Blockchain benefits for real estate , financial contracts and even healthcare .
Facing the Disruption
Startups often have a clear advantage over the incumbents that built their businesses on legacy technology . Young organizations begin with a blank slate and the freedom to experiment . Their concern involves creating value for expected future earnings . In contrast , established businesses value standardization , consistency and stability , making it difficult for them to embrace digital innovation that comes with disruption and uncertainty .
20 | THE DOPPLER | WINTER 2017