4 industries that are primed for disruptive innovation

Back in the 1940’s renowned economist Joseph Schumpeter even coined the term “Creative Destruction” to describe how technological developments can disrupt industries, create new markets and change the way we live.

In today’s age of accelerating change, creative destruction is everywhere. In this post, we’ll cover four industries that may be on the brink of being disrupted:  

Transportation: Electric Vehicles and Autonomous Driving

The transportation industry tends to go electric given fossil fuels are a limited resource, especially as companies like Tesla strive for cheaper, more powerful batteries. This shift should considerably reduce the automotive industry’s carbon footprint and may make having a car much more affordable.  

Another technological development that may considerably impact the transportation industry is autonomous driving. For instance, ARK Investment Management published research suggesting that consumers could potentially be able to travel on autonomous ridehailing platforms for just $0.25 per mile if the technology reaches scale by 2024, or less than half the cost of driving a personal car today.

Healthcare: Genomics and Gene Editing

Developments in genomics and gene editing may take healthcare to a new level. In fact, on March 4th Editas Medicine and Allergan announced that they had just treated the first patient with a new experimental gene-editing drug that targets a rare eye disorder known as Leber congenital amaurosis (also known as congenital blindness).  

This is a huge deal because it's the first time a patient's genes are being modified within the body, which is known as an in vivo treatment. As an investor, it might be worth keeping track of how these experimental treatments turn out.

Food: Plant-Based Meats

Veganism is a worldwide trend. Companies like Beyond Meat and Impossible Foods, in turn, are trying to develop plant-based meats that taste just like real meat in order to make going vegan easier.

As civic-minded millennials turn to plant-based foods, traditional players in the food industry will have to adapt to the emerging demands of vegan and vegetarian consumers. As an article from The New York Times points out, some incumbents aren’t too happy about this situation.

Financial Services: NFC, Machine Learning and Blockchain

A wave of innovation has been going on in financial services for quite some time now. From near-field communication and zero-fee trading to machine learning and blockchain-based payments - traditional financial institutions are working hard to keep up with the developments of fintech startups.  

In fact, 88% of global financial services companies express concern they will lose revenue to innovators, according to a PwC report.

The Top 250 Fintech Startups: Where Are They Now? - Source: CB Insights

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