McKinsey’s Technology Council, set up in 2020, has identified ten disruptive technologies covering digital technology, clean technology, and next-generation materials.
McKinsey said its Technology Council had been set up to scout technologies that will substantially impact both the profit and loss and capabilities of companies over the next five to 10 years.
According to Ivan Ostojic, a partner at McKinsey who leads innovation practice at the consultancy, business executives are tracking technological developments earlier and earlier in their adoption cycles. He said that many want to understand which domains the technology will likely disrupt and its value.
For instance, he said pharmaceuticals are likely to invest a far more significant proportion of their research and development budgets in silicon, suggesting that more pharmaceutical research is expected to be run using computer models than in laboratories.
The council predicted that robotics, the industrial internet of things (IIoT), digital twins, and additive manufacturing would streamline routine tasks, improve operational efficiency and accelerate time to market. McKinsey describes this trend as next-level process automation and virtualization.