Disruption is a process, not an event, and innovations can only be disruptive relative to something else.
Our long-term investment megatrends
The Age of Disruption
Disruption is nothing new. Incumbent businesses have been disrupted ever since the beginning of the first industrial revolution in the second half of the 18th century, but the digital revolution has definitely increased the pace of disruption.
Looking ahead, disruption can only intensify, given the rapid development of new and innovative technologies. The Internet of things (IoT) will soon change lifestyles, robots will, once AI has been adopted, replace millions of jobs all over the world, and driverless cars are around the corner (no pun intended). Adding to that, we note that disruption is not only about technology. Think of how urbanisation is disrupting entire societies.
Some disruptive businesses succeed whereas others do not. It is a misconception that entrants are disruptive by virtue of their success. Success is not built into the definition of disruption. Likewise, there are examples of disrupted business platforms that have benefited from disruption.