Part 3: Transformative technologies of tomorrow that will disrupt today: Advanced materials
For the past few decades, the scramble for competitive advantage has largely revolved around finding new sources of materials. A confluence of forces, for example, the improvement in building materials are likely to be the catalysts for the next economic lift. To learn more about the topic, you can read the original article here.
New and improved advanced materials offer a range of benefits, that, taken together with emerging Fourth Industrial Revolution technologies, could redefine the economics of new products and services. These new materials can boost innovation too.
What entrepreneurs need to look out for:
- Don’t be afraid to take up new technologies. In times of change, let well-weighted decisions be your guide—not your attitude toward risks.
- Understanding the innovative materials changing your sector can help you focus on the most promising opportunities.
- As the pace of new materials’ development quickens, turn around your strategy outlook by highlighting the practical benefits for your business.
Several leading manufacturers are already demonstrating the potential of some of these advanced materials. We believe that as advanced materials improve, become more practical and are disseminated through the supply chain, many more manufacturers will realise significant gains in costs and productivity.
According to myForesight®, these advanced materials have the greatest potential to influence the various industries and improve quality in the years ahead. However, these advanced materials are not widely deployed and wont have a significant impact in the very short term.
In keeping with one of the key development themes of the fourth industrial revolution—scaling up from mass production to mass customisation, advanced materials will enable companies to manufacture goods faster, better and cheaper. To learn more about the topic, you can read the original article here.
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