Technological disruption is not seen as favorable to workers in most industries. Although change is sometimes overwhelming, it is necessary, and most of all, change in the use of technology is constant. We’ve seen the rise of technological disruption in past decades, and we’ve found ways to overcome these changes. The only thing that’s different now is the speed of change.
Over the past recent years, we’ve experienced exponential growth in technological disruption in almost every industry. However, there surely are some companies that are more affected by new trends than others. Here, we’ll show you some of the industries that are destined for technological disruption.
The healthcare field has changed a lot over the previous decades. Today, we have more advanced tools that enhance activities such as diagnosis or operations. Some of the latest technological advances in healthcare are VR technology used to practice complex processes in advance, before medical procedures. This helps doctors make more accurate decisions when operating, giving patients more quality of life and better outcomes.
Distance learning in healthcare is something people would never have thought of in the distant past but the concept is now possible thanks to virtual reality. Advances in 3D printing has also helped students practice medical procedures with more accuracy without the need of a cadaver.
The healthcare industry can benefit from tech “disruption” in its administrative areas. Innovations can be used to address billing accuracy issues as sometimes patients get charged for admin fees.
In addition, the implementation of automation software can help reduce the cost of administrative tasks. In fact, automation can be crucial for the industry, particularly as the nursing shortage increases as well as the need to reduce costs and eliminate redundancies.
Automation can help the sector in several ways. First, by automating manually repetitive tasks, organizations can experience huge savings in labor, costs, and time. Second, automation can seriously cut human errors, particularly those stemming from fatigue. This will improve quality and consistency. Finally, automation can open the door to big data insights. Automated systems can collect information that can help organizations streamline their processes and improve their services.
The construction sector hasn’t changed a lot since the beginnings of this industry; people still use the same methods they did 10 or 20 years ago. The only thing that has changed is that we now have some heavy-duty machines to do the hard work. The reason for this fact is that there wasn’t too much investment in innovative technology for the construction industry. However, this trend recently evolved. According to a TechCrunch report, investments in construction tech startups increased by 324% in 2017 and 2018. This number gives us some hope for new tech devices to come that will make the construction industry more efficient.
There are some activities in this field that could be automated, and there won’t be a need to have such a big team of constructors. Besides, software engineering could also help to optimize the calculation process of construction schedules to be more efficient and accurate. Another thing that could change is that way we use more eco-friendly methods such as solar energy-generating buildings.
The financial industry has genuinely changed with new tech trends. Cryptocurrencies have played a major role in how we trade. Besides, today almost everything is done digitally; most experts say that cash will very likely disappear in time. That’s the reason why there’s a significant demand for mobile development in the banking industry.
Another trend that’s shaking the world of finance is biometric payments. This used to be something that we could only see in movies. However, today, it is as simple as logging in your bank account with your fingerprints. Face recognition payment might be the next trend in the banking industry thanks to tech “disruption”.
Every major industry is experiencing the effects of technological disruption, from healthcare and construction to finance. This disruption is nothing new; what’s different is the speed at which it is taking place. Fortunately, every new tech trend has the potential to drastically improve the quality of products and services in each sector. Automation, for example, can boost productivity in almost every industry while cutting costs and eliminating redundancies
This guest post was written by Artur Meyster and may not be copied or published without permission.