“Disruptive technologies: Advances that will transform life, business, and the global economy”, a report from the McKinsey Global Institute, cuts through the noise and identifies 12 technologies that could drive truly massive economic transformations and disruptions in the coming years.
The report also looks at exactly how these technologies could change our world, as well as their benefits and challenges, and offers guidelines to help leaders from businesses and other institutions respond.
McKinsey Global Institute estimates that, together, applications of the 12 technologies discussed in the report could have a potential economic impact between $14 trillion and $33 trillion a year in 2025. This estimate is neither predictive nor comprehensive. It is based on an in-depth analysis of key potential applications and the value they could create in a number of ways, including the consumer surplus that arises from better products, lower prices, a cleaner environment, and better health.
Some technologies detailed in the report have been gestating for years and thus will be familiar. Others are more surprising. The 12 disruptive technologies are:
- Mobile Internet
- Automation of knowledge work
- Internet of Things
- Cloud technology
- Advanced robotics
- Autonomous and near-autonomous vehicles
- Next-generation genomics
- Energy storage
- 3D printing
- Advanced materials
- Advanced oil and gas exploration and recovery
- Renewable energy