Trend of disruptive technologies to affect daily lives increasingly
Business needs to adapt to confront and catch up to the coming disruptive technologies and innovation, which will have a drastic effect on people’s daily lives, a seminar heard on November 16. Bala Chakravarthy, professor of strategy leadership and execution at IMD Southeast Asia, said disruptive technologies would have a significant impact on the product and service, media, entertainment, retail, financial, telecommunications, tourism, manufacturing, health, medical, and oil and gas industries. Disruptive technologies will replace old technologies and spawn new industries and products. In his keynote speech at the “Thailand: Moving with Disruptive Technologies” forum held by the Thammasat Economics Association, Chakravarthy said the evolution of technology would create great successful start-up companies called unicorns, those with more than US$1 billion in market capitalisation. There are more than 174 unicorn companies around the world. Of the top 25 unicorns, about 13 are in Asia, including eight in China, four in India and one in South Korea. “For Thailand, the country needs to create an environment that is appropriate with the growth of local start-ups.
