Dear readers, last month Artur Meyster (more about him at the end of the post) approached us wanting to collaborate with content. So, without further ado, his thoughts on disruption.
New tech inventions are disrupting incumbent industries around the world. They have become indispensable for companies to stay relevant. However, for workers not everything is so rosy. As employers’ demands are higher, landing a new job has become more challenging.
With the competition becoming tougher, some established companies have taken an opportunity to change the way we work. To get a closer look at how they’re affecting today’s market, here are seven incumbent companies that are becoming disruptors.
The Swedish company’s been in business since 1945. They have reinvented not only the retail industry but the way customers decorate their homes. In 2020, IKEA customers still visit stores to buy furniture. For some people, walking through IKEA’s halls is delightful. But, since online shopping has become the new standard, they have implemented new strategies.
By using augmented reality features, the IKEA app allows customers to have 3D previews of products. Using their smartphones’ cameras, users can see how products fit in a room. With these real-size 3D visualizations, customers can decide whether to buy or not. With the use of AR, the company has been able to reduce costs and attract more customers.
The company, founded in 1994, was based out of Jeff Bezos’ garage in its early days. Today it’s the largest retailer in the world. To reshape the market, the company has invested vast amounts of money in cloud computing, e-commerce, digital streaming, and AI.
What makes Amazon stand out from the competition is its delivery services. Many customers prefer to buy on Amazon because they can receive their orders in a few days. Bezos is now looking forward to providing better delivery services by using drones.
The company has started to test its Prime Air project in Cambridge. Because drones can cross cities within minutes, the company can make deliveries in less than an hour. However, because of the digital transition, many truck drivers and other workers have lost their jobs.
In cloud computing, Amazon Web Services provide customers with security and accessibility. For that reason, it’s the leading company in cloud services. Additionally, the company provides its customers with great machine learning features to help them create better insights.
AWS is one of today’s in-demand programming languages. And, as days pass, more people want to learn AWS skills. The use of cloud services has reduced the need for physical infrastructure. As a result, some data storage companies have experienced a cut in income.
Walmart is another huge retailer that has been in the market since 1962. Now, the company has taken inventory management to the next level by using drones. Because workers no longer need ladders or elevators to place items in high stacks, labor accidents have been reduced. Drones can also scan items and reduce the time spent counting inventory.
Walmart’s drones help workers and customers. As the company has been using them to provide better customer service, customers can find what they need in a few minutes. Also, the company has been using machine learning algorithms to enhance customers’ experience on the web. As they can receive suggestions based on previously purchased merchandise, they no longer need to spend long hours looking for products.
A few years ago, customers didn’t like online shopping because they found it time-consuming. But, since companies like Walmart are using ML, customers now prefer to buy online rather than going to a store. Digital marketers have displaced many sales representatives as they need new skills to deal with today’s digital channels.
3D Systems is a company specialized in 3D printing services and founded in 1986. This incumbent firm is transforming the way food companies serve dishes. By developing food 3D printers like CocoJet, the company allows chefs and bakers to create unique dishes that make eaters feel engaged.
CocoJet is a chocolate printing machine developed in collaboration with Hershey Company. It can print chocolate in any shape, and it’s a dream come true for any chocolate lover. Chefs are using CocoJet to provide customers with an eating experience they will always remember.
3D Systems has developed 3D printers for different purposes, and they are impacting many other industries. DMP Factory 500 Solution is a metal printer that allows manufacturing companies to reduce costs and optimize material utilization.
The hospitality company has reimagined the guest experience by implementing virtual reality in their on-site services. Marriott Hotels allows customers to immerse themselves in a digital environment that enables them to feel inspired. Guests can choose their virtual destination and sit to enjoy the trip. The project has been developed in collaboration with Samsung Electronics.
Following Marriot’s lead, other companies like Holiday Inn and Airbnb have incorporated VR into their services. As VR allows organizations to improve their pre-stay strategies, its demand will continue to increase over the years.
By building plugless hybrids, the automotive company founded in 1933 is willing to innovate the market. Carbon fueled cars are becoming old school, and companies like Toyota are investing more money in renewable energy technologies.
Toyota’s self-charging hybrids use a braking system that allows cars to recharge while moving. As they don’t need to be plugged to the utility power source, they can reduce even more customers’ CO2 footprint.
The Korean company is one of the biggest disruptors around the globe. They have reinvented a lot of activities, from the way customers interact with home appliances to the way doctors monitor patients. Smartwatches are giving an extra hand to doctors in healthcare. As they can monitor patients’ blood pressure, heart rate, and oxygen levels, doctors can detect health problems on time. Also, gathered information can be analyzed to make better diagnoses.
On the other hand, Samsung is making IoT mainstream. The company has developed smart appliances like washing machines, TVs, and refrigerators that allow customers to do their everyday duties with ease. Nowadays, homeowners can use their smartphones to control everything in their homes. As they don’t even need to be anywhere close, the company is making their lives much more comfortable.
These companies have just taken the first step, but the use of emerging technologies will continue to increase. To be a part of the future workforce, today’s employees will need to adapt. After all, the tech market is a fast-growing industry that’s taking significant steps every day.
Authored by: Artur Meyster
Artur Meyster is the CTO of Career Karma (YC W19), an online marketplace that matches career switchers with coding bootcamps. He is also the host of the Breaking Into Startups podcast, which features people with non-traditional backgrounds who broke into tech.
Post image from Fiction Machine