Disruptive Technologies: Redefining Industries

In a recent article in, The Straits Times, disruptive technology is pegged as the culprit for plummeting oil prices. A new technology that allows extractors to drill for oil at a much lower cost, has caused oil prices to decrease from $100US to $50US in the past year and a half. This disruptive technology, is said to be a precursor to other smart technologies that will ultimately redefine trillion dollar industries and usher in a wave of new cheaper products and services. How will large industries compete with and adopt this new technology? Will oil prices go back up in the near future? What examples of other disruptive technologies?

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