In late August 2013, the World Economic Forum released a report titled “Technology Pioneers 2014,” which identifies companies that are finding new and innovative solutions to current problems. The list is largely dominated by companies focusing on four different areas: medicine and healthcare, big data, education, and green technology. These, accordingly, are the current areas where the most progress from technology is expected.
Over the years, technology innovation has largely acted like a swift river, breaking down obstructions as it forms its path. The mobile phone, for instance, experienced much of its development in the last decade, and so the river needs new barriers to break. Big data and healthcare are good bets for innovation in the coming decade; both are relatively simple to monetize. Thus many companies are pushing the current boundaries in these areas.
One of the most interesting healthcare “Technology Pioneers” of 2014 is a firm called Bluebird Bio, which has been around for 20 years. Bluebird Bio is a biotech company that focuses on treating hereditary diseases using gene therapy. They have recently identified a way to use a virus to insert a modified gene into a patient’s cells. The method will allow the company to transfer functional cells to the patient, and may be able to treat a wide range of genetic diseases. Currently Bluebird is targeting childhood cerebral adrenoleukodystrophy (a rare and often-fatal neurological disorder affecting boys) beta thalassemia major and severe sickle cell disease, both of which are life-threatening blood disorders.
On the big data front, a company called Kaggle hopes to allow companies to harness the power of their data through the use of over 100,000 experts. The idea is that through the use of “consultancies and competitions,” the community of data experts using Kaggle will help clients to access the insights hidden in their data. Cash prizes will be awarded to those who win the competitions, and Kaggle will also assign a rank to the winner. A good Kaggle ranking may one day be currency through which data scientists can convey their worth. Though innovative, security concerns may stunt the growth of this venture.
If technology is a river, then it is occasionally prone to flash flooding, covering new areas but quickly drying up. For instance, the much-hailed advent of the eBook spelled the death of print book peddlers—or so many thought. However, as some have noted, eBook sales are already tapering. One industry that may also be overhyped is education. WEF’s list includes several tech pioneers who are attempting to change the educational model, including Coursera, a “MOOC” (massive open online course) offerer, and Codecademy, a difficult-to-pronounce firm offering a collaborative approach to learning how to code. Coursera is a website where anyone can take a course from several prestigious universities and receive a certificate at the end. Currently, both educational institutions and venture capitalists are pouring money and resources into projects like Coursera without realizing much in the way of a financial gain. Both hope the experiment will allow them to monetize such a model. However, no one yet knows whether, once asked for tuition fees (in any form), most students will balk in favor of a traditional classroom. The best thing these companies have going for them is the hugely inflated price of American higher education.
Several firms are offering smart and innovative ways to use less energy. One example is the French company SunPartner, which has developed “ultra-thin, 90 percent transparent photovoltaic cells.” Essentially, these are pieces of glass that can generate energy from the sun. Four applications are currently under development by SunPartner. First, mobile phones could adopt the technology, either above or below the touchscreen. They will likely generate 20 percent of the power requirements of the phone (enough for indefinite idle mode, emergency calls or offline functions like playing music). The company is also designing a model for billboards and signs, and another for windows. Lastly, SunPartner hopes to incorporate the technology into clothing (by weaving it into fabric) as well as industrial textiles in buildings, vehicles or temporary outside installations. Though cars and buildings powered completely by the sun may not be coming soon, SunPartner promises to solve more prosaic challenges.
Another interesting route that the flow of technology is taking is not in a new product category, but a new customer category. OMC Power, an Indian firm, is pioneering the use of micropower plants to help bring power to villages (which, in India, means bringing power to 400 million people). These smaller plants are mainly powered by solar energy, and the company generates its income by allowing locals to rent “PowerBoxes” for lights, fans, and phones, as well as allowing telecom companies to power their towers. Jana, an American company, is targeting mobile phone users in emerging markets. Jana enables companies to put airtime on people’s prepaid mobile phones in return for various actions like watching a commercial or downloading an app. Many more companies are likely to follow these two pioneers as emerging markets increasingly hold the greatest number of potential customers. In 2010, emerging markets represented 36 percent of global GDP; in 2018, according to the IMF, they will represent 55 percent.
The WEF report contains a promising glimpse into the future. Yet, all of the industries represented in the report are likely to change due to technology innovation. But the exact shape of the river future technology innovations will take is still yet to be defined.
This article was originally published in the Diplomatic Courier's January/February 2014 print edition.
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2014 Technology Pioneers: Trends in Innovation
January 2, 2014
In late August 2013, the World Economic Forum released a report titled “Technology Pioneers 2014,” which identifies companies that are finding new and innovative solutions to current problems. The list is largely dominated by companies focusing on four different areas: medicine and healthcare, big data, education, and green technology. These, accordingly, are the current areas where the most progress from technology is expected.
Over the years, technology innovation has largely acted like a swift river, breaking down obstructions as it forms its path. The mobile phone, for instance, experienced much of its development in the last decade, and so the river needs new barriers to break. Big data and healthcare are good bets for innovation in the coming decade; both are relatively simple to monetize. Thus many companies are pushing the current boundaries in these areas.
One of the most interesting healthcare “Technology Pioneers” of 2014 is a firm called Bluebird Bio, which has been around for 20 years. Bluebird Bio is a biotech company that focuses on treating hereditary diseases using gene therapy. They have recently identified a way to use a virus to insert a modified gene into a patient’s cells. The method will allow the company to transfer functional cells to the patient, and may be able to treat a wide range of genetic diseases. Currently Bluebird is targeting childhood cerebral adrenoleukodystrophy (a rare and often-fatal neurological disorder affecting boys) beta thalassemia major and severe sickle cell disease, both of which are life-threatening blood disorders.
On the big data front, a company called Kaggle hopes to allow companies to harness the power of their data through the use of over 100,000 experts. The idea is that through the use of “consultancies and competitions,” the community of data experts using Kaggle will help clients to access the insights hidden in their data. Cash prizes will be awarded to those who win the competitions, and Kaggle will also assign a rank to the winner. A good Kaggle ranking may one day be currency through which data scientists can convey their worth. Though innovative, security concerns may stunt the growth of this venture.
If technology is a river, then it is occasionally prone to flash flooding, covering new areas but quickly drying up. For instance, the much-hailed advent of the eBook spelled the death of print book peddlers—or so many thought. However, as some have noted, eBook sales are already tapering. One industry that may also be overhyped is education. WEF’s list includes several tech pioneers who are attempting to change the educational model, including Coursera, a “MOOC” (massive open online course) offerer, and Codecademy, a difficult-to-pronounce firm offering a collaborative approach to learning how to code. Coursera is a website where anyone can take a course from several prestigious universities and receive a certificate at the end. Currently, both educational institutions and venture capitalists are pouring money and resources into projects like Coursera without realizing much in the way of a financial gain. Both hope the experiment will allow them to monetize such a model. However, no one yet knows whether, once asked for tuition fees (in any form), most students will balk in favor of a traditional classroom. The best thing these companies have going for them is the hugely inflated price of American higher education.
Several firms are offering smart and innovative ways to use less energy. One example is the French company SunPartner, which has developed “ultra-thin, 90 percent transparent photovoltaic cells.” Essentially, these are pieces of glass that can generate energy from the sun. Four applications are currently under development by SunPartner. First, mobile phones could adopt the technology, either above or below the touchscreen. They will likely generate 20 percent of the power requirements of the phone (enough for indefinite idle mode, emergency calls or offline functions like playing music). The company is also designing a model for billboards and signs, and another for windows. Lastly, SunPartner hopes to incorporate the technology into clothing (by weaving it into fabric) as well as industrial textiles in buildings, vehicles or temporary outside installations. Though cars and buildings powered completely by the sun may not be coming soon, SunPartner promises to solve more prosaic challenges.
Another interesting route that the flow of technology is taking is not in a new product category, but a new customer category. OMC Power, an Indian firm, is pioneering the use of micropower plants to help bring power to villages (which, in India, means bringing power to 400 million people). These smaller plants are mainly powered by solar energy, and the company generates its income by allowing locals to rent “PowerBoxes” for lights, fans, and phones, as well as allowing telecom companies to power their towers. Jana, an American company, is targeting mobile phone users in emerging markets. Jana enables companies to put airtime on people’s prepaid mobile phones in return for various actions like watching a commercial or downloading an app. Many more companies are likely to follow these two pioneers as emerging markets increasingly hold the greatest number of potential customers. In 2010, emerging markets represented 36 percent of global GDP; in 2018, according to the IMF, they will represent 55 percent.
The WEF report contains a promising glimpse into the future. Yet, all of the industries represented in the report are likely to change due to technology innovation. But the exact shape of the river future technology innovations will take is still yet to be defined.
This article was originally published in the Diplomatic Courier's January/February 2014 print edition.
