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DISRUPTIVE TECHNOLOGIES
A Disruptive Technology is a technology or innovation which is initially a combination of nicheA Disruptive Technology is a technology or innovation, which is initially a combination of nichetechnologies or innovative ideas to create a high end product or service, typically such which the existingmarket does not expect; and when the technology becomes affordable and accessible, it eventually endsup disrupting the existing consumer market and creating a market of its own.
DIAGRAM1: Big Bang Market Adoption
FIGURE 1: Different types of theories used to describe the market response to Disruptive Technologies. The Rogers’ th l i thi i th f f b lltheory explains this response in the form of a bell curve (grey), while the recent Big Bang theory explains it in the form of a shark fin curve (orange)
• Sustaining Technologies are different from Disruptive Technologies in such that they only rely on evolutions and advancements in existing products,Sustaining Technologies are different from Disruptive Technologies in such that they only rely on evolutions and advancements in existing products,thus making firms compete against one another leveraging the improvements each firm can make in their product
• In the nascent stage of a disruptive innovation, the market is largely exploratory and mostly led by smaller, innovation driven and entrepreneurialfirms. Larger firms tend to stay away from disruptive innovations because either the margins are too tight for them; or their business structure is suchthat even willingly, they cannot enter the disruptive innovation market due to potential tradeoffs such as cannibalization
• Every product market is dynamic and bound to encounter disruptions at some stage or the other. Disruptive innovations can even hurt successful, wellmanaged companies that are responsive to their customers and have excellent R&D. Hence incumbent firms must constantly try to innovate and keeptheir products relevant in the market
Source: KPMG, McKinsey & Company, Accenture
THE NEED TO ACKNOWLEDGE DISRUPTIVE TECHNOLOGIES
FIGURE2: Expected Potential Impact of Selected Disruptive Technologies by 2016FIGURE2: Expected Potential Impact of Selected Disruptive Technologies by 2016
• In today’s age, technological advancements, speedy internet, super computing and so on are shaping the course of our economies, in addition toenabling us to enjoy highly comfortable lives, with the knowledge of the world literally at our fingertips
• We are today at the cusp of a probable technological revolution which might not only solve existing global problems but could also transform the• We are today at the cusp of a probable technological revolution which might not only solve existing global problems, but could also transform theworld as we see it and our lives as we live them
• The world needs solutions to overcome a breadth of interconnected challenges, ranging from the economic to social issues, which could togetherresult in an improvement in the quality of lives globally, if addressed properly
• In such a dynamic environment, it could be potentially disastrous for individuals, companies, and even governments who refuse to embrace they , p y , p , gemergence of the disruptive way of thinking, since many of these disruptive technologies possess the potential to trigger the solutions to our globalproblems
• Innovators and investors, who recognize and attempt to seize the various opportunities in the development of disruptive technologies, stand to reapa first – mover advantage once these technologies manages to disrupt the existing market and capture the fancy of users around the world
/ /
Major sectors which could be influenced by the Disruptive Technologies presented in this document include Manufacturing, Infrastructure, Energy, Healthcare, Education, Retail and Entertainment
What follows is a list of 50 major Disruptive Technologies/ Innovations/ Products that currently exist in marketsaround the world; and have either caused disruptions in their corresponding sectors or are on the cusp of doing so
Source: ‘Six Converging Technology Trends’, KPMG India and Nasscom, 2013
CONCEPT: 3D printing is basically an additive manufacturing process in which objects are built layer by
#1: 3D PRINTING
CONCEPT: 3D printing is basically an additive manufacturing process in which objects are built layer by layer rather than through moulding or subtractive techniques. This technology allows the user to build real objects from virtual 3D objects. This is done by ‘cutting’ the virtual object in 2D slices and printing the real object slice by slice.
INDUSTRY APPLICATION
Consumer markets
•Certain consumer product categories are relatively easy to make using this technology
INDUSTRY APPLICATION
relatively easy to make using this technology
Manufacturing (General)•Cost cutting through elimination of tooling costs, reduction in wasted material, and reduced handling costs
Manufacturing (Mold's)•Shortening setup•times, eliminating tooling errors and high efficient moulding process
CURRENT STAGE:
• 3D printing could generate an economic impact of USD 230 Billion to USD 550 Billion per year by 2025• Major techniques include selective laser sintering, direct metal laser sintering, fused deposition modeling, stereo lithography and inkjet bio‐
printing• The biggest advantage of this technology is that it provides instant modeling to get an idea of the final product, which can cut costs and time
Source: McKinsey & Company, The Engineer Magazine
The biggest advantage of this technology is that it provides instant modeling to get an idea of the final product, which can cut costs and time significantly
CONCEPT: The Internet of Things (IoT) is a concept of embedding every object or living being with sensors
#2: THE INTERNET OF THINGS
CONCEPT: The Internet of Things (IoT) is a concept of embedding every object or living being with sensors or actuators and generating their virtual representation on the internet. Identifying all objects in this unique manner can enable us to effectively track, monitor and even control them.
INDUSTRY APPLICATION
CURRENT STAGE:
• Has the potential to create economicMANUFACTURING : • identifying bottlenecks • Optimizing processes
INDUSTRY APPLICATION
Has the potential to create economic
impact of USD 2.7 Trillion to USD 6.2
Trillion annually by 2025
• Currently around 8.7 Billion devices
p g p
HEALTHCARE : • Constant health monitoring • Detecting counterfeit drugs
RETAIL: • Keeping track of inventory levels • Product details
Currently around 8.7 Billion devices
are connected to internet and the
number is expected to touch 40
Billion by 2020
ENERGY : • Smart Grid applications
URBAN DEVELOPMENT : •Traffic monitoring Waste and Water management through smart meters and leak detection sensors y
• The major challenge is to make use of
the flood of the data that is provided
by the sensors
AGRICULTURE : • Soil sensors and Leaf sensors
Source: McKinsey & Company, Cisco Systems, Cisco Internet Business Solutions Group
y
CONCEPT:
#3: BIG DATA ANALYTICS
Big Data means the data sets with sizes beyond capacities of commonly used software tools to capture, curate, manage, and process the data within a tolerable elapsed time. Big Data Analytics technology refers to storing and managing large chunk of data in a single location for analysis and evaluation at later stages. However, the term Big Data is quite variable in terms of data sizes ranging from few dozens terabytes to many petabytes of data in a single data setterabytes to many petabytes of data in a single data set.
INDUSTRY APPLICATION
CURRENT STAGE:
• The global market of big data is
Retail • Improved marketing, merchandising, operations, supply chain and after sales service
The global market of big data is expected to increase from USD 5.4 Billion in 2012 to USD 48 Billion till 2016
• Clubbed with technologies like cloud computing, social media and mobile
Healthcare •Real‐time exploration and predictive
analytics of clinical data for R & D
Telecom •Measure and analyze customer activities,
customer churn call handling at call centers p g,internet; Big Data Analytics can offer benefits to sectors like education, defense, aerospace, government services and several others
customer churn, call handling at call centers
Finance •Generate customer insight and reduce fraudulent practices
Source: KPMG, International Journal of Internet Science, McKinsey & Company
CONCEPT: Cloud computing means storing and accessing data and programs over the Internet instead of
#4: CLOUD CO MPUTING
your computer's hard drive. Here cloud is simply the metaphor for internet. This technology can significantly reduce the need of the personal storage devices and hence can cut down user cost substantially.
INDUSTRY APPLICATION
Healthcare • Access and retrieve information stored in scattered systems in real time
Telecom • Reduced cost in setting up infrastructure
Retail • Data stored and accessed remotely for inventory reducing the time and cost
Public Sector • Easy and fast access to data and applications remotely
Information Technology • Cost cutting in infrastructure development as renting a cloud server is far cheaper than
developing one
CURRENT STAGE:
• The total economic impact of cloud technology could be USD 1.7 Trillion to USD 6.2 Trillion annually by 2025
• Cloud technology is the cornerstone for some of the most promising disruptive technologies like mobile internet, automation of knowledge work, internet of things and big data
source: kpmg , mckinsey & company
• Some of the major research areas for this technology are network capacity, security of data and cultural resistance
CONCEPT: Any use or manipulation of materials at a scale of less than 100 nanometers (10‐7 meters) can
#5: ADVANCED NANO‐MATERIALS
be termed as nanotechnology. Advanced nano‐materials can be created by direct modification of molecular sized nano‐particles using tools like atomic force microscopes, electron beam or laser lithography which are capable of dealing with nano‐scale features.
INDUSTRY APPLICATION
Healthcare
•Rapid, inexpensive electronic DNA sequencing
INDUSTRY APPLICATION
Energy
•Application in solar cells•For energy storage as supercapacitors
Electronics
•Integrated Circuits•Transparent conducting electrodes, which can be used as touchscreens; LCDs
CURRENT STAGE:
• For healthcare, which will be the most benefitted sector through this technology, advanced nano‐materials could have a potential economic impact of USD 150 Billion to USD 500 Billion annually by 2025
• Graphene is the most promising advanced material. It is one sixth the weight of steel and 100 times stronger. The production of Graphene has been started, however at high cost and in limited quantities
Source: McKinsey & Company, Inmesol Power Solutions
has been started, however at high cost and in limited quantities
#6: MOBILE DEVICES
CONCEPT: Mobile devices have changed the way people access digital content. Smartphones and tablets have brought rich, digital content to the fingertips of consumers. The surging popularity of mobile deviceslike smartphones and tablet computers has created ripples across the computing industry.
INDUSTRY APPLICATION
Retail• Browse, compare and buy products online
INDUSTRY APPLICATION
Healthcare • A patient can seek medical advice more often and have flexibility in terms of point of care
•Rise of mHealth services Government Sector•Involving citizens for better governance through maximum reach to the citizens
Finance• Easy and fast access to banking services
CURRENT STAGE:
• Mobile handset and tablet shipments are envisaged to grow from 1567 Million in 2012 to 2162 Million till 2016• Today mobile devices are available in desirable size and shape at very reasonable price very easily. This includes mobile phones, tablets and
mobile computers• Gujarat government has introduced m – Governance system for more involvement of citizens. One such example is of Rajkot Municipal
Source: KPMG
j g y p j pCorporation, which provides SMS facility for interactive services, alert services and management services
CONCEPT: Augmented Reality (AR) offers a live view of a physical, real‐world environment whose elements are enhanced by computer generated sensory input such as sound video graphics or GPS data An AR
#7: AUGMENTED REALITY
are enhanced by computer‐generated sensory input such as sound, video, graphics or GPS data. An AR system generates a composite view for the user that is the combination of the real scene viewed by the user and a virtual scene generated by the system that augments the scene with additional information.
INDUSTRY APPLICATION
Healthcare • Better view of body parts inside to aid the surgery
Defense • Improved navigation for SoldiersDefense • Improved navigation for Soldiers
•Access to battlefield data in real time
Education • Can enhance a standard curriculum
•Better understanding by visual graphics
Construction • Visualization of georeferenced models of • construction sites underground structures • cables and• construction sites, underground structures, • cables and
pipes using mobile devices
Entertainment
•Gaming, videos, music, photos, personalized apps
Current Stage:
• AR has gradually moved from the world of science fiction, to our everyday lives and now everyone from retailers to healthcare providers have embraced AR
• The growth of the augmented reality applications market is expected to be exponential with the revenue growth from USD 181.25 Million in 2011 to USD 5,155.92 Million by 2016, at a CAGR of 95.35% from 2011 to 2016
Source: Research and Markets
y• High cost is currently a major challenge that in the large scale application of Augmented Reality
CONCEPT: DNA sequencing technologies, big data analytics and technologies with ability to modify
#8: NEXT GENERATION GENOMICS
organisms altogether are known as next generation genomics; these could power rapid acceleration in the field of biology as well as health care. This technology allows manipulation of genes for innovative disease treatments and new types of genetically engineered products.
INDUSTRY APPLICATION
Healthcare
E d l id tifi ti d f
CURRENT STAGE:
• Next‐generation genomics could have a l f•Easy and early identification and cure of
typical diseases like type 2 Diabetes •Accurate and quick cure of cancer at low costs
Agriculture
•Development of advanced varieties with
potential economic impact of USD 700 Billion to USD 1.6 Trillion per year by 2025
• Advanced genomics may offer tremendous potential to develop personalized treatments for cardiovascular diseasesp
higher potential value
Tissue Engineering
•Creation of artificial organs as well as organisms
treatments for cardiovascular diseases
• Next generation sequencing represents newer and cheaper methods for sequencing or decoding DNA
• Technical challenges include sequencingorganisms • Technical challenges include sequencing samples of low quality and/or quantity, reliable identification of structural and copy number variation and assessment of intratumour heterogeneity
Source: McKinsey & Company, British Journal of Cancer
CONCEPT:Mobile Internet is a combination of mobile computing devices, high‐speed wireless connectivity,
#9: MOBILE INTERNET
CONCEPT: Mobile Internet is a combination of mobile computing devices, high speed wireless connectivity, and applications. Basically it is the ability to access the internet on the mobile phone. This technology has brought a revolution in the information technology field with availability of as much information as required at just the tap of your finger.
INDUSTRY APPLICATION
Healthcare • Treatment of chronic diseases
•Remote monitoring of patients
INDUSTRY APPLICATION
Education • Online admission and classes
•Improve learning inside and outside classrooms
Public Sector • Citizen services
R t il O li Sh iRetail • Online Shopping
Finance • Bill Payment and Online Transactions
CURRENT STAGE:• Mobile Internet usage could generate global economic impact of USD 3.7 Trillion to USD 10.8 Trillion per year by 2025• Global mobile internet traffic reached 1.5 exabytes per month at the end of 2013 with over half a Billion (526 Million) mobile
devices and connections added in 2013• The major challenges for the limitless growth of this technology are to pack more computing power, sharper displays, multiple
Source: McKinsey & Company Cisco Visual Networking Index
The major challenges for the limitless growth of this technology are to pack more computing power, sharper displays, multiple sensors, and powerful antennas into ever‐smaller mobile devices
CONCEPT: Use of computers to perform tasks that rely on complex analyses, subtle judgments, and
#10: AUTOMATION OF KNOWLEDGE WORK
creative problem solving. This technology enables computing into new realms and creates new relationships between knowledge workers and machines. This facilitates the replacement of man crew with machines for doing the basic jobs.
INDUSTRY APPLICATION
Healthcare • Chronic care
•Cancer treatment diagnostics
Education • One‐on‐one attention and coaching
Business • Clerical
•Customer service and sales
Professional Services • Science and engineering
•IT • Finance • Legal
CURRENT STAGE:• The potential economic impact of knowledge automation tools could reach USD 5.2 Trillion to USD 6.7 Trillion per year by 2025
Source: McKinsey & Company
• Technological, regulatory and organizational concerns can be some key areas of focus before the full utilization of this technology
CONCEPT: Traditional robots can perform the tasks which require exceptional speed precision stamina or
#11: ADVANCED ROBOTICS
CONCEPT: Traditional robots can perform the tasks which require exceptional speed, precision, stamina or strength excellently in specific conditions. But the need of the hour is to have robots that have greater mobility, dexterity, flexibility, and adaptability in much diverse situations. This has encouraged the development of advanced robotics technologies. These technologies allows the robots to take complex judgments and execute tasks on their own.
CURRENT STAGE:
B 2025 d d b i ld h ld id
INDUSTRY APPLICATION
Healthcare • Robotic surgery
•Robotic Prosthetics
Manufacturing • Benefit in production line
•To perform repetitive, heavy, or dangerous
• By 2025 advanced robotics could have a worldwide
economic impact of USD 1.7 Trillion to USD 4.5
Trillion annually
• Apart from advanced technologies, high cost remains
themajor challenge for the worldwide acceptance ofp p , y, gprocedures
Service sector • Cleaning and Maintenance
•Customer service and sales
Defense • Automated Vehicles
•Auto Guided Weapons
the major challenge for the worldwide acceptance of
advanced robotics
• For commercial adaption of this technology,
investments of scale USD 1 Trillion to USD 1.6 Trillion
may be required
Aerospace • Space Shuttles • Aircrafts• For many businesses, advanced robotics promises
significantly reduced labor costs, greater flexibility
and reduced time to deliver products to the
marketplace
Source: McKinsey & Company, International Federation of Robotics
CONCEPT: Social Media is an instrument of communication; it is a platform that not only gives information
#12: SOCIAL MEDIA
CONCEPT: Social Media is an instrument of communication; it is a platform that not only gives information but also allows users to interact with each other. It is not just a tool for communicating with friends and acquaintances; Social Media now exerts tremendous influence over the people around the world of all ages, to get and share information.
INDUSTRY APPLICATION
Retail • Connects with the customers and reach out to them personally to know their interest and
INDUSTRY APPLICATION
to them personally to know their interest and preferences
Healthcare • Remote patient care and monitoring
•One‐to‐many’ doctor patient communication
Government Sector • Enhance the outreach of government • Effective citi en engagement andgovernment • Effective citizen engagement and communication with all stakeholders in real‐time
Finance • Understanding the customers’ opinion about services and products • Quick response to
customer feedback
CURRENT STAGE:
• Total number of social media accounts are expected to grow from 3.13 Billion in 2012 to 4.87 Billion till 2016• The major advantage of this technology is that it facilitates open communication, leading to enhanced information discovery and delivery
Source: KPMG
• Social Media is being used extensively by organizations for branding, advertising and corporate communications
CONCEPT: This includes vehicles which can bemanipulated with little or no human intervention. This
#13: AUTONOMOUS AND NEAR AUTONOMOUS VEHICLES
CONCEPT: This includes vehicles which can be manipulated with little or no human intervention. This technology includes on‐board systems which continuously transmit information about vehicle status and location and this information allows real time monitoring as well as maneuvering if needed by remote operator.
INDUSTRY APPLICATION
Logistics • Long distance transport of goods
•Deliveries of products from retail outlets to users using drones
Defense • Unmanned Vehicles
•Automated Aircrafts
Automotive • Automatically driven vehicles
Aerospace • Automated Space crafts
CURRENT STAGE:• 01The potential economic impact of autonomous cars and trucks could be USD 200 Billion to USD 1.9 Trillion per year by 2025
• Currently, we have autonomous vehicles, although still in experimental and development stage, the technology is entering consumer market with systems such as improved cruise control, automated parking, low speed autonomous driving, which in turn could lead to a full autonomy in driving
Source: McKinsey & Company, Commonwealth Scientific and Industrial Research Organization
• Benefits of this technology include reduced accidents, traffic reduction, higher safe speeds, cost reduction, time savings etc
CONCEPT: Conversion of electricity into a form that can be stored and converted back into electrical
#14: ADVANCED ENERGY STORAGE
CONCEPT: Conversion of electricity into a form that can be stored and converted back into electrical energy for later use, providing energy on demand. This concept allows users to generate energy in times of low demand and store and use later in times of peak demands.
INDUSTRY APPLICATION
Automotive
•Can make electric vehicles a viable option to conventional vehicles
Energy/ Power
•Rural and underserved areas can be provided with electricity•To store significant amount of energy for useTo store significant amount of energy for use in peak times
CURRENT STAGE:CURR NT STAG :
• The economic impact of energy storage technologies has the potential to reach USD 90 Billion to USD 635 Billion annually in 2025
• Some of the common technologies for energy storage are solid state batteries, flow batteries, flywheels, compressed air energy storage, thermal energy storage and Pumped Hydro Energy Storage(PHES)
• The major advantage of this technology is for peak load shifting. This allows provision of power in times of peak demands with comparatively less infrastructure
Source: McKinsey & Company, Energy Storage Association
less infrastructure
• However for all the benefits to be realized, these energy storage methods must be cost competitive with other methods
CONCEPT: Providing affordable and accessible internet services to almost all sections of the society,
#15: UBIQUITOUS BROADBAND
CONCEPT: Providing affordable and accessible internet services to almost all sections of the society, overcoming logistical, technological, economic and geographical challenges that might prevent such internet access. Ubiquitous broadband itself is not a new technology, but an application of the internet technology to the masses, which possesses great potential to help in the socio – economic development of the world.
ll
INDUSTRY APPLICATION
All sectors
•Having ubiquitous internet facilities can help in the commercial development of businesses, both from a financial as well as information sharing point of view•Internet can be used a powerful tool for the rapid social development of currently d l i d d l d ddeveloping or under developed and economically backward nations
CURRENT STAGE:
• As of 2013, 134 countries had National Broadband Plans; India’s policy for National Optical Fibre Network was adopted in 2011
Source: McKinsey & Company, Broadband Commission for Digital Development, International Telecommunication Union
• According to the Broadband Commission for Digital Development, more than 45% global internet penetration is envisaged by 2015
CONCEPT: Paying for goods and/ or services using a combination of computer hardware, internet and
#16: DIGITAL PAYMENTS
CONCEPT: Paying for goods and/ or services using a combination of computer hardware, internet and digital stored value systems, without the need of exchanging hard cash physically. Digital payments also include Electronic Fund Transfers and digital currencies. Near Field Communication, Bluetooth Low Energy and Mobile Wallets are examples of technologies that aid in conducting digital payments.
INDUSTRY APPLICATION
Retail/ Consumer Markets
R l t f ffli t b th
INDUSTRY APPLICATION
•Replacement of offline payments by these cashless payment technologies•Reduction in the risk of physically carrying cash•Boost to e – commerce markets•Storing not just cash but coupons and other important cards via mobile wallets
CURRENT STAGE:
• A number of countries, banks and organizations have significantly embraced Digital Payment systems; and it is possible to use credit cards and electronic cash transfer to pay for services even in another country
• Bluetooth Low Energy can replace Near Field Communication in the coming future because of its larger operating range and wider applicability
Source: McKinsey & Company, businessinsider.in, hongkiat.com
• In addition to e – Commerce and e – payments, m – commerce (through mobile phones) is also a major contributor to the growing popularity of digital payments
CONCEPT: The technique of assigning an unique identification number or code to each and every individual linked to the person’s certain biological characteristics which helps ensure the identity of that
#17: UNIVERSAL BIOMETRIC IDENTITY
individual, linked to the person s certain biological characteristics, which helps ensure the identity of that person only during all activities related to the identification number carried out by the person. Biometric identifiers can include fingerprint scans, iris recognition, retinal scans or DNA identification.
INDUSTRY APPLICATION
All sectors
•Assigning biometric identities to individuals can be considered more reliable than other traditional identifiers, since biometric identifiers
i t h d diffi lt t b li t dare unique to each person and difficult to be replicated•Biometric identities can also help reducing scams or fraudulent activities against individuals•Biometric identifiers can also help to track persons having criminal records or linked to terrorist groups
CURRENT STAGE:
• The technology is fairly highly implemented in developed countries with a number of countries also having biometric ID card scanning systems installed at places frequented by peopleinstalled at places frequented by people
• Biometric ID cards are also linked to sensitive areas in organizations to limit access to public; and also to bank accounts to ensure safety of monetary transactions
• Adaptive Biometrics, biometrics linked to the brain and heart signals are some of the recent advancements in this sector
Source: UIDAI, McKinsey & Company, Center for Global Development, about.com, fastcompany.com
• India has issued Biometric ID cards (Aadhaar Cards) to more than 56 crore citizens under the UIDAI; this database is the largest biometric database in the world
CONCEPT: Method of treatment using the patient’s own immune system to fight diseases such as cancer or allergies, by ith ti l ti th i t t k t b i i tifi i l i t t i t th b d
#18: IMMUNOTHERAPY
either stimulating the immune system to work smarter, or by giving artificial immune system proteins to the body. Immunotherapy treatments, also known as biotherapy or biological response modification, either boost the general immunity of the body, or train the immune system to specifically attack malevolent cells.
INDUSTRY APPLICATION
H lthHealthcare
•Medicinal treatments for certain diseases need to be taken on a regular basis, sometimes at a high cost, and even then might not be fully effective; immunotherapy provides the option of directly attacking the root cause of the disease and strengthening the immune system of the body
CURRENT STAGE:
• Immunotherapy research is currently focused on finding effective treatments for cancer and allergies
• Immunotherapies need to undergo proper regulatory and legal approvals before they can be commercially implemented
• Major types of biological response modifiers include Interferons, Interleukins, Monoclonal Antibodies, Vaccines and Colony Stimulating
Source: American Cancer Society, mdanderson.org, cancer.net, allergytherapeutics.com, hcplive.com
j yp g p , , , y gFactors
CONCEPT: Financial tool, whereby insurers pool contractual debts, and transfer major risks on their books,
#19: INSURANCE SECURITIZATION
through bonds or securities to capital market investors, thus reducing their exposure to insurance risks, reducing their costs of re – insurance, and allowing them increased liquidity to issue more insurance policies and services. Catastrophe bonds, Sidecars and Life Insurance Securitization are important segments of the Insurance Linked Securities (ILS)market.
INDUSTRY APPLICATION
Finance
•Increasing risks of disasters and high mortality rates are putting pressure on insurers by increasing the risks they face; transferring risks to capital markets could be a cheaper, transparent and more liquidity providing model for insurance companies as compared to re –insurance •Lower cost of capital and efficient risk transfer possible through ILS; can offer investors a chance to be more prudent about how their invested capital is utilized
CURRENT STAGE:
• Including all sources of ILS capital, the amount of alternative capital in this segment could almost equal USD 60 Billion by 2015
• ILS have been around for more than 15 years now, but only in recent years have they started putting real pressure on re – insurers
• After the financial crisis of 2008 a n mber of stricter regulations ha e come into effect regarding ILS hich are aimed at red cing the risks
Source: Citi Group, The Economist, National Association of Insurance Commissioners, artemis.bm
• After the financial crisis of 2008, a number of stricter regulations have come into effect regarding ILS which are aimed at reducing the risks posed by ILS and the issuers of securities
CONCEPT: An agriculture management and optimization technique, which makes use of sensors, Global Positioning System (GPS) bi d t d di ti l ti t ll t l ti d t d it t d t d ti l d t l
#20: PRECISION AGRICULTURE
(GPS), big data and predictive analytics to collect real – time data, and processes it to understand spatial and temporal variations across a single field or multiple fields, or even variations in humidity, soil quality and crop maturity, thus giving a holistic overview of the impacts of current agriculture methods being used, and to make relevant modifications in the same, as per the data collected. Pictures of the fields are also taken using satellite imagery or Unmanned Aerial Vehicles (UAV), which combined with GPS and sensor – recorded data, precisely pinpoint the current crop status of any location in the field.
INDUSTRY APPLICATION
Agriculture
•Increasing populations and demands for food are making it necessary to optimize and improve current crop production techniques, to ensure constant high yields; precision agriculture can help in forecasting crop outputs and thus making relevant modifications to boost these outputsthese outputs
Current Stage:
• Precision agriculture technologies currently require expensive and robust IT infrastructure and monitoring resources
• Venture Capital funds focused on agriculture technology are being established to promote precision agriculture
• Cleantech startups related to food and agriculture reportedly experienced the biggest growth during the Q4 of 2013
• Weather forecasting and modeling, cloud computing, data analytics and data management systems related to food and agriculture will also witness growth
Source: Forbes, IBM, Cleantech Group, Michigan State University
Weather forecasting and modeling, cloud computing, data analytics and data management systems related to food and agriculture will also witness growth in conjunction with precision agriculture
CONCEPT: Any vehicle that combines more than one source of energy to provide propulsion for the functioning of the vehicle is called a hybrid vehicle Various sources of energy for hybrid vehicles include gasoline diesel natural gas electric batteries biofuel solar energy wind power and
#21: HYBRID VEHICLES
INDUSTRY APPLICATION
vehicle. Various sources of energy for hybrid vehicles include gasoline, diesel, natural gas, electric batteries, biofuel, solar energy, wind power and even human muscle power. The most common types of hybrid vehicles used today combine a fossil fuel source with electricity. Hybrid vehicles include cars, motorbikes, trains, buses, cranes, boats and even submarines.
Automotive•Hybrid vehicles provide users with benefits such asHybrid vehicles provide users with benefits such as more fuel efficiency, automatic shut off when not driving, regenerative braking; and lesser emissions
Energy/ Environment•With such a huge global demand for vehicles, hybrid vehicles can help conserve energy, and also help reduce the carbon footprint
CURRENT STAGE:
• Hybrid vehicles are considered a bridge between conventional fuel powered vehicles and fully electric vehicles
• A number of hybrid vehicle options are available to users today including full hybrids, mild hybrids and plug – in hybrids, depending on the users technical and financial preferences
• Companies such as Toyota, Honda, Ford and Chevrolet are major players in the hybrid cars space
Source: howstuffworks.com, fueleconomy.gov, hybridcars.com
CONCEPT: Business to Customer (B2C) interaction for the sale of goods and/ or services over the internet is known as e tailing (electronic retailing)
#22: E – TAILING
CONCEPT: Business to Customer (B2C) interaction for the sale of goods and/ or services over the internet is known as e – tailing (electronic retailing). e – tailing commonly involves an online brochure of goods, along with the user interface to purchase these goods and pay for them through a variety of payment methods, such as online payment portals. e – tailing also involves a bigger external logistical network of warehouses and product transport and delivery systems.
INDUSTRY APPLICATION
Retail/ Consumer Markets
•e tailing can completely eliminate the physical requirement of going to•e – tailing can completely eliminate the physical requirement of going to brick and mortar retailers for purchase of goods/ services•This makes the offering attractive for consumers who have a time or logistical constraint which hinders them from actually going to retail outlets•Consumers can browse through a multitude of product offerings, either on the same e – tail website, or on any number of such websites, before choosing the optimum product according to their taste and budgetg p p g g
Current Stage:
• e – tailing players have started capturing major market shares, boosted by prompt deliveries and novelties such as order tracking services ande tailing players have started capturing major market shares, boosted by prompt deliveries and novelties such as order tracking services and Cash On Delivery (COD) applications available
• The Indian e – tailing market is expected to grow to around USD 22 Billion in the next five years, with major players such as Flipkart, Myntra and Amazon India expected to grow around 70 – 100 % on a year – on – year basis
• m – commerce (shopping via mobiles) has also given a boost to the e – tailing industry, with almost all major e – tail players offering mobile
Source: moneycontrol.com, howstuffworks.cometailingindia.com, searchcio.techtarget.com
shopping applications
CONCEPT: A bodysuit having a hard outer covering, and using a combination of motors, hydraulics and power supply
#23: POWERED EXOSKELETON
INDUSTRY APPLICATION
y g g, g , y p pp ydevices to primarily boost the strength and endurance of the user. Such exoskeletons can be used to leverage the benefits of technology to augment the capabilities of the human body, either in extreme conditions or in the presence of some disability.
Defense
•The soldiers of the future will be able to wear h k l t t i t th h h tilsuch exoskeletons to navigate through hostile
conditions during wars or rescue operations
Healthcare
•Exoskeletons are also being developed to help people with lower body disabilities to stand d dand move around
CURRENT STAGE:
• A large number of companies and organizations including the US Army are working on developing exoskeletons for a defense as well as healthcare point of view
• According to Panasonic, the world’s first affordable and mass produced exoskeleton will be on sale 2015 onwards, costing around USD 5000
Source: Ekso Bionics, howstuffworks.com, extremetech.com
• Issues concerning the development of exoskeletons include durable power supply, flexibility and motion controllers
CONCEPT: The interpretation of hand gestures and/ or facial expressions by a computer or a machine, thus
#24: GESTURE RECOGNITION
INDUSTRY APPLICATION
reducing the use of conventional mechanical input devices, whilst increasing the Human Machine Interface (HMI). Gesture recognition uses a combination of computer programming, computer vision and image processing; and input devices such as wired gloves and a variety of cameras.
INDUSTRY APPLICATION
Entertainment
•Using gestures to control devices such as music players, smart phones and tablets
Manufacturing
•Using gestures to operate control panels in manufacturing units can save time
Healthcare
•Patients with disabilities will also be able to operate devices having gesture recognition
Education
•Novel and interactive methods of education can be introduced
CURRENT STAGE:
• Current gesture recognition devices use combinations of accelerometers, gyroscopes and infrared detectors as sensors; and are already finding applications in gaming consoles, smartphones and so on
Source: digitaljournal.com; gizmodo.com; whatis.com
• The global Gesture Recognition market is expected to grow at a CAGR of 29.2% over 2013‐2018
CONCEPT: A Massive Online Open Course (MOOC) is a method of providing online education to a very large number of students across the globe, free
#25: MASSIVE ONLINE OPEN COURSE
or at a very negligible cost as compared to conventional higher educational methods. MOOCs typically involve a MOOC platform, wherein students can access educational content in the form of lectures, reading material and related assignments, all online, thus reducing physical, financial and even time zone related difficulties. MOOCs may or may not grant credits to the applicants, and have different course durations depending on the course.
INDUSTRY APPLICATION
EducationEducation
•Access to a broad range of courses, across sectors, and capable of catering to an almost unlimited number of students•Removing the physical and financial barriers can help spread education massively in developing countries and to people who cannot afford higher education•MOOC providers charge a nominal amount for•MOOC providers charge a nominal amount for certification; which is also acceptable to many students taking the course
CURRENT STAGE:
• MOOCs bring together a large number of stakeholders such as MOOC providers, Universities, Internet services providers and Venture Capitalists
• Around 2230MOOC players are currently operational, including profit/ not for profit organizations; and even conglomerates of Universities
• Adaptive testing, peer grading, typing pattern recognition and other such technologies are being developed to reduce
Source: The Complete University Guide; www.moocs.co; www.coursera.org
p g p g g yp g p g g g pthe effect of cheating in MOOCs
CONCEPT: Speech recognition is the ability of a computer, computer software program or hardware
#26: SPEECH RECOGNITION
INDUSTRY APPLICATION
CONCEPT: Speech recognition is the ability of a computer, computer software program or hardware device to decode the human voice into digitized speech that can be interpreted by the computer or hardware device. This technology enables us to operate a device or perform commands without using the conventional input devices.
INDUSTRY APPLICATION
CURRENT STAGE:
• Speech recognition has developed significantly in past few years TodayHealthcare significantly in past few years. Today, this technology is offered in mobile devices as well as computers through Automatic Speech Recognition (ASR) software
• The accuracy of speech recognition has
Healthcare
•Medical documentation processes•Maintaining EHR (Electronic Health Records)
Defense
•Operating high tech aircrafts smoothly • The accuracy of speech recognition has also been increasing. The F‐35 pilot‐aircraft of US Air Force offers system speech recognition with an accuracy of ~98%
• Apart from technical challenges the
Operating high tech aircrafts smoothly•Better control over weapons due to ease of input
Business
•Easy and fast document production with reduced labor of typing physically
• Apart from technical challenges, the reliability of the inputs interpreted by the software remains a key issue of research
Others • A boon for visually impaired peoples
•Hands free computing • Home automation•Vehicle navigation systems • Mobile telephony
Source: Department of Computer Engineering, Çukurova University; US Air Force
CONCEPT: A method of computing that uses the principles of quantum physics to store information as a 1 or a 0 or a superposition of both at the same time instead of conventional binary computing which can store information
#27: QUANTUM COMPUTING
a superposition of both at the same time, instead of conventional binary computing which can store information only as a 1 or a 0, but not a superposition of the two. Using quantum superposition, in conjunction with the effects of quantum tunneling and entanglement, makes quantum computers consider all possible combinations of quantum bits (qubits) simultaneously, thus enabling them to perform calculations much faster than conventional digital computers.
INDUSTRY APPLICATION
All sectors
•With tremendous amounts of data being generated across sectors everyday, superior computing abilities could make data analysis and management easier•Applications in cryptography and data encryption vis‐à‐vis data protection
CURRENT STAGE:
• A number of Government agencies around the world are funding Quantum Computing programs from a national safety point of view• Quantum computing is still more of a theoretical concept which is in its practical infancy• The D – Wave is the only commercial Quantum Computer available in the world, priced around USD 10 Million and with very limited
computing power; companies such as IBM are also developing Quantum Computersf f
Source: D – Wave Systems, howstuffworks.com, about.com, extremetech.com, guardian.com
• High costs remain a major challenge for Quantum Computers as of now; topics such as coherence on a single qubit level and stringing multiple fully entangled qubits together are major current areas of research in this domain
#28: BIOFUELS
CONCEPT: A Biofuel can be described as a fuel that contains energy from geologically recent carbon fixation. These fuels are extracted from living organisms such as plants or microalgae. Biofuels differ from conventional fossil fuels in a way that Biofuels can be regenerated in short time period making them a renewable energy source.
INDUSTRY APPLICATION
CURRENT STAGE:
• Among the various biofuels like Ethanol
Power
•Electricity generation is the single largest use of fuel•Biofuel can offer a viable alternative to conventionally used coal and natural gas
• Among the various biofuels like Ethanol, Biodiesel, Green Diesel, Biofuel Gasoline, and Vegetable Oil, the most promising Biofuel today is the Biodiesel
• In US, the NFESC, with several biodiesel industries, is developing biodiesel technologies.
Automotive
•Less dependence on fossil fuels•Clean and renewable fuel
, p g gAnother group of Spanish developers has announced a new biofuel made from trash
• In India, the development of biofuels pivots around the cultivation and processing Jatrophaplant seeds, which can grow on the wastelands
Energy
•Energy and cost efficient alternative to the conventionally used fuels like wood, natural gas etc.
across India• Offering the biggest advantage of partially to
fully replacement of the fossil fuels with clean and ecological fuels, Biofuels face technical challenges. Besides cost, the size of land needed to produce the biofuels in mass is very large
Source: BerkeleyBioDiesel, http://biofuel.org.uk/
to produce the biofuels in mass is very large
CONCEPT: Thin and flexible electronic material which can mimic the human skin in multiple ways. Using a
#29: ELECTRONIC SKIN
INDUSTRY APPLICATION
combination of nanotechnology, sensors and conducting materials, electronic skin has been created which can sense pressure and temperature; and even stretch and heal itself. Electronic skin can be used to impart the ability of sensations to people using prosthetics and also to enable robots to feel human – like sensations.
INDUSTRY APPLICATION
Healthcare•Restoring sensations such as touch and temperature to people using prosthetics
•To be used by patients with diseases such as Parkinson’s disease and epilepsy to constantly monitor health data
•Applications wherein electronic skin will also be able•Applications wherein electronic skin will also be able to administer medicine to patients are being explored
CURRENT STAGE:CURRENT STAGE:
• A research team at Stanford University, USA has developed a self – healing skin; a research team at UC Berkeley, USA has also developed an electronic skin which also lights up when touched
• Researchers have also constructed an electronic skin which is a combination of sensors that detect temperature and motion resistive RAM for data storage micro heaters and drugs; which is capable of monitoring the health of patients
Source: IEEE Spectrum; nature.com; news.discovery.com
motion, resistive RAM for data storage, micro heaters and drugs; which is capable of monitoring the health of patients and administering drugs itself
CONCEPT: Crossbar Memory is a unique type of Non – Volatile Resistive Random Access Memory
#30: CROSSBAR MEMORY
CONCEPT: Crossbar Memory is a unique type of Non Volatile Resistive Random Access Memory (RRAM) being developed by Crossbar, based in California, USA, which is a memory format that allows storage capacity of upto 1 Terabyte (TB) on a chip the size of a postage stamp. Further, Crossbar technology can be stacked vertically in 3D, providing multiple TB of storage on a single chip. According to Crossbar, this memory can disrupt the existing USD 60 Billion Flash memory market.
INDUSTRY APPLICATION
CURRENT STAGE:
• By 2016, the demand for non – volatile memory is expected to reach USD 48 4 Billion
Entertainment and Consumer Markets
•High storage capacity in laptops, tablet computers, smartphones and gaming systems
is expected to reach USD 48.4 Billion
• Crossbar has successfully developed its demonstration product in a commercial fab. This working silicon is a fully integrated monolithic CMOS controller and memory array chip
Manufacturing and Business
•Will be able to boost the success of the Internet of Things and the Industrial Internet
•Extra storage capacities for IT systems and Cloud service providers
• Crossbar is currently completing the characterization and optimization of this device
•Real time automotive applications•Application in smart meters and thermostats
Source: Crossbar Inc.; venturebeat.com
CONCEPT: Concentrated Solar Power (CSP) Technologies use mirrors or lenses to concentrate the sunlight
#31: CONCENTRATED SOLAR POWER
into a relatively small area, where this light is converted to heat. This heat then creates steam that drives steam engines to generate electric power. CSP systems have very wide ranges form remote power systems as small as few kilowatts up to grid‐connected power plants of 100’s of megawatts (MW).
INDUSTRY APPLICATION
Energy/ Power
•CSP is most economically viable in large installations. This allows for economies of scale in production and installation, leading to price reductions
•Moreover electricity system operators are accustomed to deal with large installations, which further help lead to widespread acceptance
CURRENT STAGE:
• The most widespread CSP technology used is parabolic‐trough plants which covers ~90% of CSP plants• Nokh Plant located in Rajasthan, by Godavari Green Energy is one of the major CSP plants in India. Spread over 400 acres of land, the plant
has the capacity of 50 MW• The major challenge faced by this technology is the higher cost compared to other alternate technologies
h f l l b l ld h b
Source: Solar Energy Development Programmatic EIS, US Department of Energy
• With proper financial support global CSP capacity could reach 147 GW by 2020
CONCEPT: Wearable Bluetooth ring (Fin) is an elegant tiny device that can be worn on thumb to convert the user’s palm
#32: WEARABLE BLUETOOTH RING
INDUSTRY APPLICATION
g ( ) g y pinto a gesture interface. With this technology one can control multiple devices supporting Bluetooth without even touching them. Fin can transmit natural gestures as commands to any connected Bluetooth device.
Entertainment
•Wireless control of smartphones, TVs, and other connected devices
Defense
•Remote controlling of the weapons
Augmented Reality
•Controlling head mounted displays
Virtual Modelling
•Better visualization of concept models
CURRENT STAGE:• Wearable Bluetooth ring is still in its research and development phase• High retail price is one of the prime concerns for widespread acceptance of this technology. However the cost could be cut to a reasonable
amount once it mass production commences• Among the other benefits those will transform the way of living, the most important benefit is that the palm can be a touch interface for the
Source: Indiegogo, www.bgr.in, http://www.wearfin.com/
Among the other benefits those will transform the way of living, the most important benefit is that the palm can be a touch interface for the visually impaired; and Fin can be used to control disability aids with the least amount of physical stress
CONCEPT: Projecting realistic, moving and 3D images of far off people or surroundings at some other place, to give the i i f th f ff / bj t t ll b i t t th l ti h th i j t d Th i
#33: HOLOGRAPHIC TELEPRESENCE
INDUSTRY APPLICATION
impression of the far off persons/ objects actually being present at the location where the images are projected. The images of the subject are captured, compressed, transmitted over an internet network; then decompressed and projected at the target location using lasers, in a process similar to creating holograms.
Business/ Communication
•Using Holographic Telepresence in business meetings/ to address public gatherings, to cut the travel times and logistical costs of the participants
Entertainment
•Using the technology to recreate artists and performers on the stage, who might not be able to actually perform
Healthcare
•Combined with telemedicine, the technology can be used to obtain medical advice from experts at far off locations
Education
• Interactive methods of teaching can be introduced; students can be taught by subject experts located at distant places
CURRENT STAGE:
• Telepresence technologies such as videoconferencing are already actively used for long distance communication• Britain based Musion uses an effect named ‘Pepper’s Ghost’ , popular with illusionists to beam moving images onto sloped glass. Poland based company Leia
uses laser projectors to beam images onto a cloud of water vapor. This results in an effect wherby3D objects can be viewed and manipulated from every angle• Holographic Telepresence has been used to even create projections of dead artists for musical performances during events
Source: Musion, The Telegraph, whatis.com, telepresenceoptions.com
Holographic Telepresence has been used to even create projections of dead artists for musical performances during events• Indian Prime Minister Mr. Narendra Modi extensively used innovative holographic telepresence while campaigning for the National Elections 2014; this has
also been featured in the list of Guinness World Records
CONCEPT: A technology that uses laser to etch DNA on amolecular level. This etched DNA can then be
#34: DNA LASER PRINTING
CONCEPT: A technology that uses laser to etch DNA on a molecular level. This etched DNA can then be injected into a cell to generate an organism programmed as per the specific input parameters. The technique uses microarray cloning to mass‐produce a Million oligonucleotides in parallel, and then uses massively parallel DNA sequencing to sort the different DNA variants and identify those with the desired sequence.
INDUSTRY APPLICATION
HealthcareHealthcare
•The Laser Printing technology is expected to reduce costs of generating the DNA, while also making the process more accurate and error free•This cost reduction could result in advancements in medical treatments•Opens up the possibility of preserving animals on the verge of extinction and also of generating new living beingsof extinction, and also of generating new living beings
CURRENT STAGE:
• Traditional DNA printing is well known throughout the world however a major concern is its very high cost and• Traditional DNA printing is well known throughout the world, however a major concern is its very high cost and observed high error rate. These shortfalls could be overcome by the Laser Printing technology
• US based Cambrian Genomics is leading the way in testing and developing DNA Laser Printing technology
• This technology is still in its nascent stage and once fully developed can open up the doors to personalized healthcare
Source: Cambrian Genomics, The Economic Times, www.prote.in, 3dprintingindustry.com, laserfocusworld.com, extremetech.com
applications
CONCEPT: OTEC is amarine renewable energy technology that harnesses the solar energy absorbed by
#35: OCEAN THERMAL ENERGY CONVERSION (OTEC)
Industry Application
CONCEPT: OTEC is a marine renewable energy technology that harnesses the solar energy absorbed by the oceans to generate electric power. OTEC uses the temperature gradient between cooler deep and warmer shallow or surface ocean waters to run a heat engine and produce useful work, generally in the form of electricity.
Industry Application
Energy / Power•Clean and renewable source of energy•A base load electricity generation system which generates electricity 24 hours, all year long.
Synergetic ProductsSynergetic Products•Fresh water: Fresh water of quality at par with standard desalination plants
•Food: Nutrient rich cold water from the deep ocean•Cooling: Cold water can be utilized for applications such as cooling greenhouses
Current Stage:
• World’s first operating OTEC plant is located in Okinawa island, Japan. The electricity generation capacity of the plant is estimated to be 50 kW
• Lockheed Martin group along with Hong Kong‐based Reignwood Group has planned to develop a OTEC pilot plant
Source: OTEC News, OTEC Okinawa
• Lockheed Martin group along with Hong Kong‐based Reignwood Group has planned to develop a OTEC pilot plant that will be built off the coast of southern China
CONCEPT: A project currently being undertaken by Google that involves a series of high – altitude
#36: BALLOON POWERED INTERNET
balloons, floating in the stratosphere, higher than the altitude at which aeroplanes fly, and creating an aerial wireless network, to which users on the ground can connect to, if they have the corresponding receivers. The flight of the balloons is controlled by the direction of the wind, and the internet signal bounces from a terrestrial antenna, up to the balloon network and then down to the actual users on the earth.
INDUSTRY APPLICATION
earth.
All sectors
•The aim of such projects is to provide affordable and accessible internet connectivity to developing/ under developed areas, where currently internet access is difficult to provide due to either logistical or cost issues
Current Stage:
• Google’s Project Loon has been started in June 2013 with an experimental pilot in New Zealand; the results of the pilot are being used to constantly refine the technology in a research facility in California’s Central Valley
• Project Loon aims to establish a ring of uninterrupted connectivity around the 40th southern parallel during this pilot stage
• One of the balloons used in the project has been able to traverse the globe in an impressive 22 days
Source: Project Loon, theverge.com, techcrunch.com
• In addition to the balloons, solar powered drones can also come up as a similar technology for providing global internet access
CONCEPT: A prosthesis or prosthetic device is an artificial substitute for a missing human or animal body
#37: PROSTHESIS
part. Prosthetic devices include, but are not limited to artificial limbs, eyes, ears; and even replacements for the heart, kidneys, skin and blood. Prosthetics are extremely helpful to amputees who might have lost their body parts in accidents or because of diseases. Prosthetics need to be carefully designed and manufactured as per the patient’s needs.
INDUSTRY APPLICATION
HealthcareHealthcare
•To enable amputees to lead better lives by attaching artificial substitutes for their amputed body parts•Lightweight and high strength materials used these days have even made it possible for prosthetics to help the patient in participating in games and sports•Neurocognitive prosthetics are helping patients to physically reconstitute or augment cognitive processes such asreconstitute or augment cognitive processes such as executive function, attention, language and memory
CURRENT STAGE:CURRENT STAGE:
• Cutting edge materials such as carbon fiber, titanium and Kevlar allow prosthetics to be stronger and lighter, thus reducing the effort required to control them
• Combinations of hydraulics, mechanical linkages, motors, computer microprocessors, and innovative combinations of these technologies give much more control to the prosthetic user; Myoelectric limbs, which control the limbs by converting muscle movements to electrical signals, have started to replace the cable operated limbs
• Computer Aided Design and Computer Aided Manufacturing are used to design and manufacture prosthetics prosthetics generally cost
Source: Britannica Encyclopedia; www.howstuffworks.com
• Computer Aided Design and Computer Aided Manufacturing are used to design and manufacture prosthetics; prosthetics generally cost around USD 5000 – USD 35000
CONCEPT: A pill that contains an inbuilt sensor, which sends out information to an external patch worn
#38: DIGITAL PILL
by the patient, when the pill has been taken; the patch can then relay the information to a linked smartphone or tablet. A Digital Pill contains a sensor about the size of a grain of sand, alongwith copper and magnesium, which together create an electrical circuit when they come in contact with the human body’s digestive acids. This circuit then powers the sensor.
INDUSTRY APPLICATION
H l hHealthcare
•Since human beings are prone to missing out on regular doses of medicine; since patients with chronic diseases need to take their medicines regularly; and since it is necessary to constantly monitor the actual effects of the medicine, such pills will prove to be very successful in the healthcare industry
CURRENT STAGE:
• According to the World Health Organization (WHO) around 50% of patients around the world fail to take medicines correctlyAccording to the World Health Organization (WHO), around 50% of patients around the world fail to take medicines correctly , while 50% drugs are prescribed incorrectly
• US based Proteus Digital Health is developing such Digital Pills, expected to be in the market from 2015
• Companies such as Otsuka Pharmaceuticals and Novartis are also working with Proteus to develop these digital medicines
Source: Proteus Digital Health, fastcoexist.com, histalkmobile.com, telegraph.co.uk, bbcnews.com
• Proteus is setting up a large scale testing and manufacturing facility for the Digital Pills in England
CONCEPT: Cultivating crops on segments vertically stacked one over the other, mostly in indoor facilities,
#39: VERTICAL FARMING
with artificial, user defined control over the light, water and nutrients needed by the plants to grow. Since vertical farming has stacks of crops growing upwards, this reduces the actual land surface area being used for agriculture; hence it is mostly associated with urban farming. Vertical farming uses LED light sources and hydroponics extensively for the development of the plants.
INDUSTRY APPLICATION
Agriculture
•With a burgeoning population, ever increasing demand for food, and rising costs of land, vertical farming can serve as a solution to increase crop production, while reducing the horizontal usage of land•Growing crops indoors in controlled conditions can help us to grow crops all round the year, irrespective of weather conditions; and even reduce the usage of pesticides and insecticides•With proper technology to supply light, water and nutrients to plants, there could be no physical limit to the number of stories we can build on top of one another, to cultivate crops
CURRENT STAGECURRENT STAGE:
• Commercial vertical farming has already started in places like Singapore
• A vertical farm is Pennsylvania, USA is set to be the world’s largest farm using such technology
• Lighting systems for indoor farms methods for supplying nutrients to plants; and ways of soil and water management
Source: verticalfarm.com, theguardian.com, howstuffworks.com, newscientist.com
Lighting systems for indoor farms, methods for supplying nutrients to plants; and ways of soil and water management in high storied vertical farms are current topics of research vis‐à‐vis vertical farming
CONCEPT: Electric supply to devices or gadgets, without the device being physically connected to a
#40: WIRELESS POWER
power source via cables. Wireless chargers are especially aimed at charging gadgets, while the device can still be used and moved from one place to another by the user. Major wireless – charging technology currently available are magnetic induction, magnetic resonance; and using a transmitter with small antennas to send radio waves to a receiver connected to the gadget wherein the gadget converts the energy from radio waves to DC power.energy from radio waves to DC power.
INDUSTRY APPLICATION
All sectors
•Charging personal entertainment devices such as smartphones and tablets, wirelessly•Wirelessly charging medical implants such as pacemakers to eliminate their batteries and reduce their size•Extending the application of this technology to•Extending the application of this technology to larger machines and even electric powered cars in future
CURRENT STAGE:
• Simple devices such as electric toothbrushes use the principle of magnetic induction for charging
• Companies such as Energous and Witricity are actively developing chargers using the above mentioned technologies for charging gadgets
• Researchers at Stanford University, USA have discovered a new wavelength at which wireless power could be transferred, thus reducing the
Source: MIT Technology Review, Electronic Engineering Journal, edition.cnn.com, howstuffworks.com, mddionline.com,
y, g p , gsize of conventional medical implants
CONCEPT: A synthetic brain, created by reverse engineering the mammalian brain down to the molecular
#41: ARTIFICIAL BRAIN
INDUSTRY APPLICATION
CONCEPT: A synthetic brain, created by reverse engineering the mammalian brain down to the molecular level. This can be achieved by the study of the brain’s architectural and functional principles. The focal point is reconstructing the brain piece by piece and building a virtual brain in a supercomputer.
Healthcare
•Better understanding of neurological diseases
Research
•Understanding the effect of drugs on the brain•More efficient neuroscientific research
CURRENT STAGE:
• Blue Brain Project is by far the most promising in this technology. Started in 2005, it has shown impressive results including development of a cellular mesocircuit of 100 neocortical columns with a million cells in total
• A cellular rat brain is being developed with 100 mesocircuits, totaling a hundred million cells; and a cellular human brain is predicted to be developed by 2023 equivalent to 1000 rat brains with a total of a hundred billion cells
• The major hurdle in achieving the goal is the computing power. Each simulated neuron requires the equivalent of a laptop computer. Hence a model of a full brain would require billions of laptops. However, with developing supercomputing technology artificial brain is an achievable goal
Source: École Polytechnique Fédérale De Lausanne
supercomputing technology artificial brain is an achievable goal
CONCEPT N (N A ) i i if i i l h l b i
#42: NANTENNA
CONCEPT: Nantenna (Nano Antenna) is a nanoscopic rectifying antenna, an experimental technology being developed, which will convert light to electric power. This technology is based on the concept of wireless power transmission. Nantenna is a very small rectifying antenna the size of a light wave, fabricated using nanotechnology, which acts as an antenna for light, converting light into electricity.
INDUSTRY APPLICATION
Energy / Power
•Efficient use of solar energy than conventional devices•Though the current in each antenna is small, an array of them can generate significant amount of electricityy•Nantenna arrays can be designed to absorb any frequency of light
CURRENT STAGE:CURRENT STAGE:
• As of now, Nantennas are being developed on experimental basis
• One of the challenges is that the frequency at which Nantennas operate is very high. This adds complications for choice of diode
• Another challenge is that current Nantennas are produced using electron beam lithography. This process is slow and
Source: Integrated Defense Staff; Media Arts and Technology, University of California
Another challenge is that current Nantennas are produced using electron beam lithography. This process is slow and expensive which limits the rife acceptance of this technology.
#43: PROGRAMMABLE MATTER
CONCEPT: Matter that can change its properties and/ or its shape, based upon either inputs provided by the user, or by the inputs received by the sensing system of the material itself. Programmable matter possesses properties such as computation, sensing, actuation and display.
INDUSTRY APPLICATION
All sectors
•Manufactured products could be modified even after manufacture, either by external inputs, or by the inputs received by the product itself•Clothes made from programmable matter could modify their texture according to weather conditions•Prototypes of machines and devices could be built and rebuilt any number of times
CURRENT STAGE:
• A number of programmable materials such as Claytronics and Smartdust are being developed which are operated using computer science and/ or applications of computer networks
• Researchers at MIT, USA are working on smart sand particles which could enable the material to form and reform
Source: MIT News, mit.edu, harvard.edu
shapes as per the user’s requirements
CONCEPT: Non pneumatic tires, supported internally by compressible materials such as polymers, and not
#44: AIRLESS TIRE
by air pressure are known as airless tires. An absence of the air filled tube removes the risk of these tires getting punctured, while these tires are being tested for their load carrying as well as shock handling capacity too. Airless tires are commonly combinations of solid inner hubs, polymeric spokes in distinct patterns, shear bands and treads.
INDUSTRY APPLICATION
Automotive
•Reduction in the risk of tires getting punctured in challenging terrain, while providing possibly similar levels of load carrying capacity and shock absorbing capacity as pneumatic tires; and enhanced durability and minimal maintenance than conventional tires
bl l h d h l h•Possible applications in heavy duty vehicles such as construction vehicles; or military vehicles
CURRENT STAGE:
i l i h l d b d f li h l d i hi l h lf d l d f• Airless tires have already been tested for light load carrying vehicles such as golf carts and lawn mowers; and even for certain military vehicles and All Terrain Vehicles (ATVs)
• Major players in the tire industry such as Michelin and Bridgestone are developing different types of airless tires; Michelin’s version is called the Tweel, Bridgestone’s version is the Air‐Free Concept Tire
Source: howstuffworks.com, gizmodo.com, airless‐tire.com
• Resilient Technologies and Polaris both have airless tires based on a honeycomb shaped internal design
CONCEPT: Drill bits which are combinations of conventional Polycrystalline Diamond Compact (PDC) drill bits and Roller Cone drill bits use to drill heterogeneous sub surface formations during hydrocarbon
#45: HYBRID DRILL BITS
bits and Roller Cone drill bits, use to drill heterogeneous sub – surface formations, during hydrocarbon exploration. These bits combine the cutting superiority of PDCs in soft formations, and the crushing strength and stability of roller cone bits in hard formations, to provide higher overall Rate Of Penetration (ROP) than a conventional bit used individually.
INDUSTRY APPLICATION
Energy
•Drilling is a costly part of the hydrocarbon exploration and production process. Using hybrid bits reduces the time otherwise wasted in pulling out the drillstring and changing the bit, when encountered with a different sub – surface formationdifferent sub surface formation•This reduced drilling time, and increased utility of the drill bits can lead to a significant saving in costs for the operator
CURRENT STAGE:
• US based Baker Hughes Inc. is a pioneer in hybrid drill bit applications, with its range of Kymera Hybrid Drill Bits
• Current major applications of hybrid drill bits include drilling interbedded formations, directional drilling and drilling wells experiencing torque and vibration problems
• The hybrid drill bits have been proven to drill challenging formations in countries such as US, Brazil and Iceland, faster than
Source: Baker Hughes, National Oilwell Varco
The hybrid drill bits have been proven to drill challenging formations in countries such as US, Brazil and Iceland, faster than conventional bits
CONCEPT: A Co – Processor is a processor which assists the main processor in a smartphone in
#46: SMARTPHONE CO – PROCESSORS
performing specific tasks such as motion sensing, thus decreasing the load on the main processor; freeing up main processing power and also helping to increase battery life of the phone. This does not imply that the main processors are not smart enough to perform these tasks; it is just that co – processors are much more power optimized.
INDUSTRY APPLICATION
Entertainment•Increase in the battery lives of smartphones is the major impact expected
•Measurement of motion data from accelerometers, gyroscopes and compasses will be devotedly performed by co –processors, enabling usage of main processing capacity for other important tasks
CURRENT STAGE:
• The most prominent co – processors today are the ones used in Motorola’s Moto X and Apple’s iPhone 5S
• The co – processors in the Moto X enable the phone to listen to voice commands, and also to detect motion; similar tasks are performed by the co – processors in the iPhone 5S, in addition to reducing network pinging to save battery
Source: Apple; Cnet; BGR; Techradar
p y p g p g g ylife
CONCEPT: Advanced method of data transmission, primarily to be used to transmit data from satellites in
#47: LASER BROADBAND
INDUSTRY APPLICATION
space to receivers on the Earth. NASA is developing the technology under the Lunar Laser Communication Demonstration (LLCD) to transmit hundreds of Millions of bits of data per second from the moon to Earth. This would be equivalent to transmitting more than 100 HD television channels simultaneously.
INDUSTRY APPLICATION
CURRENT STAGE:
• NASA has successfully tested the data transmission
All sectors
•In today’s world, an enormous amount of data is being collected and stored everyday all over the world•Such superfast methods of data transfer would help in vastly improving our understanding of the space, and thus help build more
capacity of the LLCD by downloading both pre –decided files as well as real time data from the Lunar Atmosphere and Dust Environment Explorer (LADEE)
• NASA required just five minutes to transfer a gigabyte of information and the limiting factor inimproving our understanding of the space, and thus help build more
effective space programs•When such broadband networks are made available on the earth, this will aid in rapid and secure data transfer, which will benefit development across all economic and social sectors
gigabyte of information, and the limiting factor in transfer speed turned out not to be the LLCD’s transmission from the moon to the Earth, but LADEE’s transmission to the LLCD just a few short miles away
• The laser signal could be read without error even in broad daylight and through light clouds; thus increasing confidence in its technical success. However, the signal wasn’t able to pass through thick clouds or obstructions to light, which was in line with NASA’s expectations
Source: NASA; extremetech.com; dslreports.com
CONCEPT: Smart grids are electrical grids that are integrated with computerized, two – way
#48: SMART GRIDS
communication networks which, in addition to transmitting electricity, also collect electricity usage data and provide feedback to the electricity provider. Smart grids leverage the power of Information & Communication Technology to allow real time monitoring and modification of the electricity supply network, based on the trends in electricity consumption.
INDUSTRY APPLICATION
CURRENT STAGE:
• Countries such as the USA, UK, China and many European nations are already actively involved inEuropean nations are already actively involved in smart grid deployment or smart grid pilot projects
• The Ministry of Power, Government of India, under the Restructured Accelerated Power Development and Reform Programme (R‐APDRP) is directing almost USD 10 Billion over the coming years to
Energy/ Power
•Efficient transmission of electricity, lower operating costs, faster restoration of electricity after outages and reduced energy use during peak‐demand hours•Abilities of anticipation and isolation, which allows the system to locate problematic sections and to isolate those which might have failed
grid modernization. Fourteen smart grid pilot projects have been announced by the Government of India, which will be located all over the country
• The Uttar Gujarat Vij Company Ltd. (UGVCL) has plans to roll out India’s first smart grid in Naroda and Deesa in North Gujarat by April 2014 In
isolate those which might have failed
Infrastructure
•Energy efficient infrastructure, enhanced cyber‐security, integration with sources of electricity like wind and solar power, energy security and reduced
b and Deesa in North Gujarat, by April 2014. In collaboration with the Government of India, UGVCL will invest almost INR 50 crore to set up new infrastructure, meters, servers and analytic systems for smart grid
carbon emissions
Source: Ministry of Power, Govt. of India; US Dept. of Energy; Business Insider
CONCEPT: Batteries similar to traditional Lithium – ion batteries, in which the cathode is replaced by air,
#49: LITHIUM – AIR BATTERY
wherein the oxidation of lithium at the anode and the reduction of oxygen at the cathode induces a current flow. Since the cathode is air, such batteries are also called ‘breathing batteries’; having an air cathode also makes these batteries lightweight. Li – air batteries have very high energy densitiescompared to Li – ion batteries.
INDUSTRY APPLICATION
Energy
•Li – air batteries are being envisaged to be used majorly in electric car applications. Their reduced weight and increased energy density could help increase the energy efficiency of electric vehicles
CURRENT STAGE:
• Automobile companies such as Volkswagen are developing Li – air batteries to be used in their electric vehicles
• Researchers at MIT, USA have developed a genetically modified virus, which can increase the surface area of the nanowires used as electrodes in the Li – air battery, which can then improve the performance and durability of Li – air batteries; Active research is also going on to find the optimum electrolytic solution to be used in Li – air batteries
Source: extremetech.com, cleantechnica.com, theengineer.co.uk, gizmag.com, greencarreports.com
• In addition to Li – air batteries, Sodium – air batteries and Aluminium – air batteries are also researched and developed
CONCEPT: Fabric embedded or imbibed with nano particles (generally silver particles)which prevent bacterial colonization on the fabric thus
#50: ANTIBACTERIAL FABRIC
INDUSTRY APPLICATION
CONCEPT: Fabric embedded or imbibed with nano particles (generally silver particles)which prevent bacterial colonization on the fabric, thus keeping the fabric disinfected and hygienic, while also minimizing bad odors emanating from the fabric. These silver ion nano particle networks are quite durable, and have been shown to not harm the human skin.
Textile
•Disinfected, odor free and durable clothes are highly desirable in sport wear or gear designed for outdoor activities
Healthcare
•The antibacterial properties make such fabrics excellent contenders to be used in bandages, surgical wear and other such wound treatment related fabrics
CURRENT STAGE:
• Such Antibacterial Fabric is being manufactured around the world, even for use in furniture, home textiles, beddings, mattresses and so on
• Researchers at Australia’s RMIT University have now developed silver nano wire enabled fabrics, which can kill of b i i hi j 10 i f h i l i f hi f b i b i i d
Source: Trevira, HHL Technology, wisegeek.com, gizmag.com
bacteria within just 10 minutes of contact; the environmental impacts of this fabric are now being examined
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