Disruptive Technology 3 Challenges
This theme is really about finding the companies that are using technology to address social and environmental issues. How can technology disrupt the old ways of business and lives, to help improve how we operate every day?
By using technology at scale, many hope to accelerate the solutions to problems and challenges we face as a society.
Challenge 1 - Innovating Fast Enough!
29% of startups fail because they run out of money, 19% are outcompeted, and 18% fail due to pricing and cost issues (Forbes).
Businesses, companies and researchers often struggle to innovate fast enough to be able to keep up with the demands of producing technology that is in line with the research being carried out globally. 3D Printing can be a great way for small businesses, large corporations and even the healthcare industry to face the challenges of innovation.
Chuck Halls founded the company after inventing the technology that led to the first ever 3D Printer that was produced in the 1980’s. He founded 3D Systems shortly after.
- Fast manufacturing process
- Allows you to test much more complex designs more easily
- Impacts multiple industries, from the Aerospace industry to Healthcare!
Challenge 2 - Communications during disasters
During disaster events, such as shootings, flooding, hurricanes and earthquakes - communication systems can go down. This can cause problems during the event and afterwards. If someone has got trapped or stuck in a certain location after the crisis, they often might need to be contacted to get extra help to prevent any serious injuries or death.
The challenge to overcome is: How can you safely communicate with everyone to ensure their safety, but also ensure each person understands the situation and can be ready for whatever may come.
Founded in the aftermath of 9/11 in response to the situation that was caused in New York. They set-up at first, a scalable messaging system which could notify everyone promptly during crises.
The majority of the biggest 500 companies in the world use their system!
4,500 organisations are signed up to the Everbridge communications platform
The system has the potential to reach up to 500 million people worldwide.
Hurricane Sandy (2012)
During hurricane Sandy in 2012 (apologies I said 2004 in the video!) - 30% of the population in New York City didn’t receive any communications on evacuating.
AND 44% of the people that DID receive communications, thought that they’d be safe without evacuating. Clearly demonstrating that the messaging and communications they received weren’t good enough!
Challenge 3 - The Threat of Cyber Attacks
Every 40 seconds, a business falls victim to a cyber attack (Forbes, 2017).
By 2021, it’s expected to cost the economy $6 trillion annually (Cybersecurity Ventures, 2016).
Specialise in firewalls, antiviruses and intrusion prevention software.
Ken Xie founded the company NetScreen in the 90’s, one of the first internet security companies. He left to form Fortinet as the CEO in 2000. They’re the most used cybersecurity software company in the world.
They also allocate a lot of time in forming an education platform as an aside to the core business to help train up and educate new students on the ways of tackling cyber attacks and protecting companies against the threat. This is one of the ways they’re looking to the future, to help solve the problem at scale.
Have any thoughts on these challenges? Share them below and let us know what you’re thinking!