Simple fact of evolution: when change occurs, you either adapt to it and survive, or don’t – and perish. In business, change is ongoing, and an organisation frequently relies on IT’s ability to develop and adapt technology to support new and improved processes.
In their 2013 report, “The Search for Creative Destruction,” analysts at Goldman Sachs identified 8 products or processes set to impact the business arena, with evolutionary consequences.
Electronic cigarettes (a.k.a e-cigarettes or e-cigs) could grab 10% of the global tobacco market ($10bn), over the next several years. Offering the “good” aspects of smoking, with “none” of the bad (also, not subject to excise taxes or settlement payments), the technology will offer high margins for manufacturers and retailers.
2. Cancer Immunotherapy
Immunotherapy trains the immune system to attack cancer cells, unlike chemotherapy (which can kill healthy cells) and “targeted” therapy (which cancers often develop resistance to). Combination therapies may earn $10-15 billion by 2025, with lung cancer as the primary sector.
3. Light-Emitting Diodes (LEDs)
With energy savings of up to 85%, longer life-spans, and programmable capabilities, LED lighting could dominate the commercial sector by 2020.