Digital Disruptions Across 6 Major Sectors of the Economy

Digital disruption refers to the transformative change that occurs when new technologies revolutionize business processes, products, or services. It is a true hallmark of the modern age, as products and services that were once a thing of the imagination become a reality of daily life.

For organizations that enact a successful strategy, the new technologies driving digital disruption can give them a much-needed competitive advantage, allowing for a superior customer experience and more efficient, effective internal teams. Of course, digital disruption comes with a price — literally. Implementing new technologies in an organization often requires a large upfront investment, and patience to enjoy its rewards.

However, for many industries, the benefits of digital disruption likely outweigh these costs. From healthcare to transportation, digital disruption has impacted how many major sectors of the American economy operate, and will likely continue to do so in the future as new technologies are developed:

Healthcare

New health technology has fundamentally changed the healthcare industry, increasing patient safety, improving the quality of patient care, and helping to reduce the cost of that care. Health information technology, such as electronic health records and online patient portals, simplifies and streamlines many administrative tasks, allowing healthcare professionals to spend more time caring for patients or completing tasks that cannot be automated.

The widespread adoption of mobile technology, including smartphones, has also affected the way healthcare is delivered to patients. Wearable health devices and mobile apps have made health services and information more accessible to a greater number of people. About one-third of Americans have either currently or previously used a health app or wearable fitness device to reach their health goals.

Telehealth is also a key disruptor in the healthcare sector, paving the way for virtual visits, remote patient monitoring, and other technologies that help patients connect with their carers. Telehealth usage is expected to continue growing in the coming years. One study suggests that telehealth will continue to grow in the future and even predicts the arrival of more sophisticated services, such as virtual urgent care and home health services.

Business

Enterprise organizations and many of their operations have been heavily influenced by digital disruption. From improvements in the HR department to automating IT tasks, seemingly every aspect of business operations appears to benefit from recent technological developments. Best of all, over half of surveyed CEOs reported that their digital improvements have increased profits for their organization.

Digital transformation technologies and strategies are part of the driving force behind these changes. Scalable digital applications, the power of the cloud, and cybersecurity improvements allow organizations to adopt new processes more easily while reducing the risks or negative effects associated with implementation.

As these enterprise solutions continue to evolve, businesses will be in a better position to refine their digital transformation efforts and prepare for any coming disruptions to their industry. Data will likely be at the forefront of future disruptive strategies and technologies, serving as a roadmap for trailblazing enterprises in the coming years.

Higher Education

The education sector, particularly higher education, has also seen significant shifts in the wake of digital disruption. The growth of online education has paved the way for further technological advancements in in-person and distance learning that benefit students, educators, and institutions alike.

Predictive analytics and automation have played a particularly important role in transforming higher education. Not only can it help with recruiting and retaining students, but it can also bolster and personalize students’ educational experiences after enrollment. Adaptive learning courseware works to customize students’ academics, identifying knowledge gaps, and tailoring work to align with their unique learning style.

Automation of this courseware, as well as other administrative tasks, has allowed educators to spend more time teaching students. Virtual and augmented reality provides immersive and hands-on educational experiences. Collaborative platforms help students work together in real-time, regardless of their physical location. And all of this is just the beginning. As universities seek more students and more students pursue a college degree, the entire higher education sector remains vulnerable to further changes and disruptions.

Enterprise-Wide AI in Analytics

Since the transition from silent films to talkies, the media and entertainment industry has grown alongside technology, providing the perfect breeding ground for continual disruption. With the rapid evolution of technologies, the media and entertainment industry has been massively disrupted in recent years.

The advent of at-home streaming services has changed how people watch television and movies. The rise of podcasting has provided a “new” way of consuming media. Virtual reality has brought concerts to peoples’ living rooms and opened a new sector of video games.

It’s incredible how these innovations have quickly become a normal part of daily life for many consumers. The possibilities for future disruptions are endless, as people continually seek new forms of entertainment.

Engineering and Construction

The engineering and construction (E&C) sector encompasses a wide variety of industries — all of which are ripe for disruption. New technologies have made it easier than ever for construction professionals to design and build new facilities; entire homes can now be built with a 3-D printer. These advancements benefit customers who need unique, affordable solutions and may help increase traditionally-thin profit margins for businesses in this sector.

Recent digital trends in manufacturing have led to innovations in automation, analytics, and the industrial Internet of Things (IIoT). Even entire factories are now connected and automated, streamlining production and distribution.

Experts predict that, in the coming years, the E & C sector will become increasingly reliant on new technology. Organizations will likely use technology to make their operations more efficient and implement outside-the-box digital transformation strategies that suit the unique needs of this industry.

Transportation

Technology has already drastically changed the transportation industry. Ridesharing and shared micromobility services have famously disrupted taxis, rental cars, public transportation, and even the concept of car ownership. As these services become deeply embedded in daily life, they will continue to affect how people get from one place to the next and offer more opportunities for innovation.

Commercial transportation and freight have seen similar shifts and innovations. New technologies have made it possible to improve fleet management, optimize logistics, and make laborious processes, such as loading and unloading shipments, more efficient. It’s thought that augmented reality, 3-D printing, and robotics may further disrupt this industry.

Digital disruption is a defining feature of the modern age that has helped shape the current landscape. However, it is not a thing of the past; it is the way of the future. Many present realities were previously unthinkable, and upcoming innovations will probably continue to have the same effect on individuals, organizations, and entire sectors of the economy.

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Trianz enables digital transformations through effective strategies and excellence in execution. Collaborating with business and technology leaders, we help formulate and execute operational strategies to achieve intended business outcomes by bringing the best of consulting services, technology expertise, and execution models.

Powered by knowledge, research, and perspectives, we enable clients to transform their business ecosystems and achieve superior performance by leveraging infrastructure, cloud, analytics, digital, and security paradigms. Reach out to get in touch or learn more.

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