Disruptive Innovation

I loved great lakes for its faculty. It’s a great learning throughout the year with the harmony of theoretical concepts by great faculty and industrial outlook by CEOs, CFOs, COOs, great doctors, IAS officers, Chief Ministers through guest lectures. Today we are fortunate to have Mr.Shibulal , the Chief Operating Officer and one of the founding members of Infosys addressing us on technology innovation in the future.

He provided me with a paradigm shift in my thought process by giving insights and direction to look at and think through the spectrum of technology and its growth. It’s not about adding improvements to new products which make you unique but by moving towards disruptive innovation and making others follow you. When whole the world is thinking in one direction, you need to think through another direction to make some space in the market. Tata Nano is one such example, where whole automobile industry is looking towards convenience and Tata looked towards affordability. And the so called world giants started following it.

Disruptive innovation is what makes the world moving in right direction. Big companies which forget to handle this will lose out in long term to the firms which come up with these kinds of innovations. So, these companies need to start their own small firm with new clients when they come up with such an innovation and the world is not yet ready, so that it will not lose its big pool of customers who are accustomed to past.

Healthcare is just booming looking towards the global trend of aging population. Except India, almost all countries are moving towards that. So there is a need for lot of innovation both in products and processes considering the gaps that health care industry is going to face in the near future. Connecting and contacting the aged people is going to be one of the most important things in healthcare industry where there can be a great innovation happen.

Another example is Power sector. Reduction of use of power by big firms and making power multi directional may be a big thing. Lot of power can be saved and transferred to require through this.

The world is going to becoming more and more multi directional and multi dimensional from uni-directional and uni-dimensional just like what happened in Web 2.0.