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Courtesy: McKinsey Global Institute, May 2013, Disruptive Technology: Advances that will transform life, business and the global economy.

Today technology is growing and advancing at a very fast pace. It is experiencing immense breakthroughs and discoveries. The potential scope of impact of technology advancement in present day is broad and far-reaching – it will transform the way we live and work, enable new business models to be established over old ones.

Realizing this importance, McKinsey Global Institute has extensively researched and identified twelve potentially economically disruptive technologies.

1. Mobile Internet

Increasingly inexpensive and capable mobile computing devices and Internet connectivity

2. Automation of knowledge work

Intelligent software systems that can perform knowledge work tasks involving unstructured commands and subtle judgments

3. The internet of things

Networks of low-cost sensors and actuators for data collection, monitoring, decision making, and process optimization

4. Cloud technology

Use of computer hardware and software resources delivered over a network or the Internet, often as a service

5. Advanced robotics

Increasingly capable robots with enhanced senses, dexterity, and intelligence used to automate tasks or augment humans

6. Autonomous and near-autonomous vehicles

Vehicles that can navigate and operate with reduced or no human intervention

7. Next-generation genomics

Fast, low-cost gene sequencing, advanced big data analytics, and synthetic biology (“writing” DNA)

8. Energy storage

Devices or systems that store energy for later use, including batteries

9. 3D printing

Additive manufacturing techniques to create objects by printing layers of material based on digital models

10. Advanced materials

Materials designed to have superior characteristics (e.g., strength, weight, conductivity) or functionality

11. Advanced oil and gas exploration and recovery

Exploration and recovery techniques that make extraction of unconventional oil and gas economical

12. Renewable energy

Generation of electricity from renewable sources with reduced harmful climate impact

These are the 12 technological advances, identified by McKinsey after extensive research, that will transform life, business, and the global economy.

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