of Tech Disruption characterize the ingredients for exponential technological growth and progress, for humanity’s benefit. This is something Indian technology entrepreneur and billionaire philanthropist applies in real life via to invest in projects that truly matter. Beyond the projects’ disruptive nature (first D) with potential for exponential growth (second D), both sine qua non, and while dematerializing projects are less in-scope due to Rewired’s mission to support both software and hardware projects, Tej Kohli backs the following:
Technologies that digitize the world
As things, from artistic artifacts to scientific measurements, can be digitally represented in ones and zeros, they inherently become information-based technology. They become data that can be handled, and thereby contribute to exponential growth. develops technologies that for the first time enable scientific, reproducible measurement and digitization of taste and scent. Applying this technology to robotics also enables detection and capturing of completely new modalities of data to guide decision making in the creation of autonomous machines and inspire the development of new learning models.
Projects that democratize technologies
It makes them accessible and no longer reserved for governments or large organizations. , developer of a machine learning deployment platform, is democratizing the handling of big data, making it easier for not only data scientists but also developers and decision makers to manage workflows and provide new capabilities around infrastructure, collaboration and compliance. builds data analytics software to leverage and convert aerial thermal imaging into expert deliverables and actionable reports for solar farms and other applications to democratize drone data analytics to any industry.
Innovations that demonetize technologies
Innovative technologies make things more accessible and affordable to everyone. develops the next generation of prosthetics, which, thanks to 3D printing, cost 80% less than traditional prosthetics and will dramatically increase access. It creates prosthetics that children specifically can feel proud to wear. This Rewired-backed team not only demonetizes the once unaffordable prosthetics technology, but also democratizes robotic prosthetics for more than 5 million amputees worldwide.
Digitization-induced growth that deceives
This is because such growth starts with diminutive numbers. A 100% or doubled growth, for example, which starts at 0.01 only yields 0.02, then 0.04, etcetera. Such doubled growths appear very minimal. It’s only until you reach the whole number barrier that growth is perceived to be significant, as 1 becomes 2, then 2 becomes 4, and 4 becomes 8, until you reach the thousands levels without noticing it.
New products or markets created by digital technologies that disrupt
Digital technology brings about new ideas that effectively change the consumer markets and result in paradigm shifts. The integration of high quality cameras in phones, for example, has virtually made point-and-shoot cameras insignificant. Likewise, video streaming services such as Netflix and Hulu changed the way people watch movies and TV shows.
Multifunction products that dematerialize.
Dematerialization here basically means the vanishing of products as they are integrated into a new product. This is best exemplified by smartphones that put separate GPS, cameras, audio recorders, small flashlights, and even basic computers out of business or at least made these products less and less popular.
It is one thing to be innovative, but it takes diligent follow through for the technology to develop and grow. Digital technology can lead to exponential growth of many businesses. It needs to be harnessed and utilized for the common good, to make life better, which is the end-goal of why things are getting invented.