Digital Disruption: The Effect of New Technologies on Incumbent Industries

Incumbent industries have been significantly affected by new technologies. They have changed from the way companies operate to the way they design products and provide services. As companies are now using more digital channels to reach customers, there has been a massive job disruption.

The digital transition has made many employees lose their jobs. As their skills have become obsolete, and their roles are no longer required, they had to adapt. According to a study made by the Brookings Institution, more than 25 percent of jobs in the US are being disrupted due to automation.

If you’re concerned about losing your job, but you don’t know what to do, here are some ways new technologies are affecting incumbent industries. This article will help you identify what you need to stay relevant and how industries are being affected.

Food Industry

Emerging technologies are indeed transforming the food Industry. By allowing companies to increase production, monitor weather, and make even 3D printed dishes, they’ve taken the food industry to the next level.

 

The use of artificial intelligence is allowing robots to become better every day. In the food industry, robots are helping companies to ensure quality and affordability. As they can reduce labor costs and increase productivity, companies can provide fresh, affordable food to customers. Also, the use of robots decreases labor risks, and employees can avoid possible labor accidents in dangerous tasks.

 

3D printing is taking big strides. It’s been used not only to serve unique dishes but also to create food ingredients. For example, Perfect Day is a company that uses 3D printers to make dairy milk without a cow. On the other hand, companies like Barilla are using 3D printing to serve pasta differently. The Italian food company makes 3D printed pasta with unique shapes using a mixture of semolina and water.

Transportation Industry

In 2020, vehicles are smart and self-driven. Companies like Tesla are using machine learning algorithms to allow their cars to learn how to drive. It provides drivers a better experience as they no longer need to put their hands on the wheel. Also, Tesla cars can park by themselves, so parking will no longer be a challenge.

 

Tesla cars can not only drive by themselves. They use sophisticated software to recognize objects in the external environment. As a result, they can break when a person is passing in front of the vehicle. 

 

UPS is investing vast amounts of money on artificial intelligence. As the company aims to transform delivery services, they are building self-driven trucks. UPS trucks allow the company to cut down costs and save time in deliveries. 

 

An excellent option to learn machine learning skills is to enroll in a coding school. Galvanize is a coding bootcamp that offers full-time and part-time courses. In up to 26 weeks, you’ll develop the right skills to impress employers and land a new position.

 

Their data science immersive course focuses on Python as it’s the right tool for machine learning, data visualization, and statistical analysis. By learning Python, you’ll be the perfect candidate to help organizations make smart data-driven decisions. At Galvanize, you’ll be prepared to succeed in any work environment and join the next world’s workforce.

Retail Industry

The retail industry is no longer the same since digital platforms are essential to meet customers’ demands. Nowadays, customers prefer to buy online rather than in-person shopping. Digital marketers are now in demand as they are helping companies reach bigger audiences to stay relevant. Traditional sales representatives are losing their jobs, and to remain in the competition, they need new tech skills.

 

Since websites have changed how customers make their purchases, more companies are adding fantastic features. Companies like IKEA and Home Depot have added augmented reality features that customers can use to see how merchandise fits in a room. By pointing their phone’s camera, customers can have a 3D image of products like chairs, sofas, and desks. 

 

Furthermore, companies like Alibaba are using virtual reality to provide a whole new experience. As customers can have a walk through a virtual store, they can buy whatever they like. From clothes to shoes and other accessories, v-shopping is undoubtedly transforming retail.

 

Years ago, online shopping could be frustrating. With a large variety of products available, finding the one you need could be difficult. But today, thanks to machine learning, finding a product is much easier. 

 

Companies like Amazon and Walmart use machine learning to help customers find products quickly. Based on previously searched products, customers receive suggestions that help them find products. In other words, providing more personalized shopping experiences is helping companies to attract and retain customers.

 

To stay relevant, you can learn Ruby on Rails. It’s a great tool to use for web development. As it can be used for front end and back end development, many employers are hunting for candidates with RoR skills.

Television Industry

The use of online streaming services is disrupting the television industry. Netflix has transformed television, and nowadays, more users prefer streaming over traditional TV. Consequently, conventional TV workers are losing their jobs.

 

Netflix not only provides its customers with a huge variety of movies and TV series. The company also uses machine learning to give clients more personalized experiences. While customers use the platform, they can receive recommendations based on previously watched content. 

Travel Industry

Virtual reality and machine learning are gaining ground in the travel industry. As companies like Marriott Hotels are using virtual reality to provide virtual tours, they can attract more guests. Marriot created a “VRoom Service” in collaboration with Samsung Electronics. 

 

The company allows guests to immerse themselves in a new experience of digital travel. As guests can feel real stimulations like smells, rain, and wind, feeling like you’re teleporting to a new place is possible.

 

Machine learning is helping tourists break the language barrier by using sophisticated translation programs. Google’s Translate App uses machine learning to provide more accurate translations. At the same time, Google’s Lens is allowing tourists to do real-time translations. It makes communication while traveling more pleasant. But, as nothing is perfect, humans translators are losing their jobs.

Conclusion

Emerging technologies will continue to disrupt incumbent industries as they are helping organizations to transform the market. However, if you are willing to keep your job or want to increase your opportunities, you must learn new tech skills. They will help you to remain competitive and meet employers’ demands. 

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