April 2018 Issue Vol.8 No.4
CEO,Veltech TBI and Convener & Head, FICCI TamilNadu Technology Panel,TamilNadu,India
Abstract: We are all aware of how the first industrial revolution of mechanization with water power and steam power was disrupted by the 2nd generation mass production with assembly line & electricity which later was disrupted by the 3rd generation powered by computer &automation which then is being slowly disrupted currently by the 4th generation “cyber physical systems”. While the above disruptions happened over many years of time, the technology disruptions of today are happening at a faster pace making older systems / processes / business models irrelevant in a very short period of time. While disruption in the short term, causes job losses and other challenges to people who are not prepared for it, disruptions are also prone to generate new opportunities and wealth to those who are prepared for it.While the key drivers of disruptions could be many, Technology powered disruptions in particular, have been known to cause exponential impacts. With disruptions, one can be a “Victor” or a “Victim”depending on if one is creating the disruption or one is being slow in responding to it.
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