Essay on Disruptive Technologies

10693 Words 43 Pages
McKinsey Global Institute

May 2013

Disruptive technologies:
Advances that will transform life, business, and the global economy

The McKinsey Global Institute
The McKinsey Global Institute (MGI), the business and economics research arm of McKinsey & Company, was established in 1990 to develop a deeper understanding of the evolving global economy. Our goal is to provide leaders in the commercial, public, and social sectors with the facts and insights on which to base management and policy decisions.
MGI research combines the disciplines of economics and management, employing the analytical tools of economics with the insights of business leaders. Our “micro-to-macro” methodology examines microeconomic industry trends to
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$400
Price of the fastest supercomputer in 19751 and an iPhone 4 with equal performance

230+ million
Knowledge workers in 2012

$2.7 billion, 13 years
Cost and duration of the Human Genome Project, completed in 2003

300,000+

Miles driven by Google’s autonomous cars with only one accident (human error)

3x

Increase in efficiency of
North American gas wells between 2007 and 2011

85%

Drop in cost per watt of a solar photovoltaic cell since 2000

1

For CDC-7600, considered the world’s fastest computer from 1969 to 1975; equivalent to $32 million in 2013 at an average inflation rate of 4.3 percent per year since launch in 1969.

… with economic potential in 2025

2–3 billion

More people with access to the Internet in 2025

$5–7 trillion

Potential economic impact by 2025 of automation of knowledge work

$100, 1 hour

Cost and time to sequence a human genome in the next decade2

1.5 million

Driver-caused deaths from car accidents in 2025, potentially addressable by autonomous vehicles

100–200%

Potential increase in North American oil production by 2025, driven by hydraulic fracturing and horizontal drilling

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