PETALING JAYA: The disruption of technology which has influenced and changed many forms of businesses should be embraced to ensure potential growth said Rahim & Co International Sdn Bhd research & planning director Sr. Sulaiman Akhmady.
“Disruption is essentially a transformation of a product that was historically expensive and complicated whereby only the selected few able to afford the product or technology, to making it economical and accessible to everyone,” explained Sulaiman during his talk titled Real Estate Metamorphosis: To Disrupt or Be Disrupted at the 27th National Real Estate Convention (NREC).
Citing computers as an example, he points out that the purpose has changed significantly since its inception. Giving the example of the earliest IBM computers, used by the National Space Agency (NASA) to conduct spaceflights operations and were specialised machines built for complex calculations has changed to become a common household item.
Essentially, he said there are three main factors that permit disruptions to occur:
- Globalisation
In a world that is becoming increasingly closer with the advancement of technology in areas such as transportation and communication, it has made it easier for cultures to blend together.
- Demographics
Urbanisation has rapidly changed the economic landscape of countries such as India and China where around 60,000 people are moving to cities to work.
With many governments moving away from commodity or labour based economies to a more services or technology based, there would be a shift in how people work and reshape the demographics of a certain country.
- Technology
Although it has been affecting our lives throughout history, but different generations might interact and view differently towards technology.
For example, baby boomers might not be as accepting towards newer technology compared to millennials. This may be in part to the younger generation being born when the technology was readily available compared to their older counterparts, hence the lacking the same pessimism.
