Not long ago, you could see your competition coming. Management guru Clayton Christensen coined the term "disruptive innovation" to describe how the competition worked: a new entrant attacked a market leader by launching low-end, low-priced products and then relentlessly improving them. Now Christensen's frameworks have themselves been disrupted...because you can no longer see the competition coming. Technologies are no longer progressing in a predictable linear fashion, but are advancing exponentially and converging. Fields such as computing, medicine, artificial intelligence, 3D printing, robotics, nanomaterials, and synthetic biology are advancing simultaneously, and combining these allows one industry to rapidly disrupt another before market leaders even know what has hit them.
Practically every industry will be disrupted over the next few years, including finance, insurance, healthcare, manufacturing, transportation, education, I.T. services, and communications. Very few of today's Fortune 500 companies will be on that list by the early 2020s. They will go the way of Blockbuster, Kodak, RIM, Compaq, and Nokia.
This is not all bad news, because disruption creates opportunities. New industries will emerge, and companies that lead the change will have the trillion dollar market capitalizations. Business executives need to understand that:
trillion dollar opportunities happen at the intersections of exponential technologies
disruptions are happening in every industry where technology can be applied
entrepreneurs can now do what only governments and big corporations could do before if they don't disrupt themselves, they will be disrupted by startups from other industries
Businesses must learn the new rules of the innovation game and transform their employees into intrapreneurs who think and act like the Silicon Valley entrepreneurs who are gunning for Goliath.
Vivek Wadhwa will teach the basics of exponential technologies and convergence, provide examples of the disruptions that are underway in several industries, discuss the new rules of the innovation game, and challenge his audience members to think like today's technology entrepreneurs, and to build the new billion-dollar businesses within their companies.