Deloitte University Press’ Technology Trends report looks at “exponentials” for the first time—innovations that are accelerating faster than the pace of Moore’s law, that is, technologies whose performance relative to cost (and size) doubles every 12 to 18 months.
The rapid growth of exponentials has significant implications. Powerful technologies—including quantum computing, artificial intelligence (AI), robotics, additive manufacturing, and synthetic or industrial biology—are ushering in new and disruptive competitive risks and opportunities for enterprises that have historically enjoyed dominant positions in their industries. In this year’s Technology Trends report, Deloitte looks at how exponentials (ExOs) build awareness and share new knowledge about their trajectory and potential impact.
Unlike traditional businesses that combine assets and workforces within organizational boundaries and sell access to it, ExOs leverage the world around them, such as other people’s cars and spare rooms (think Zip, airbnb and Uber). In our benchmarks, they outperform their competitors at least tenfold. A traditional consumer product company, for example, takes an average of 300 days to move a product from idea to store shelves. Quirky, an ExO that crowdsources new product ideas, can move products through the same process in 29 days.
Most of the key drivers of this new breed of ExOs can be boiled down to two acronyms: SCALE and IDEAS. SCALE comprises the external mechanisms that ExOs use to fuel their growth:
Read more: Deloitte