Hypothesis Statements Overview

Lastly, the iBuyer model in real estate, there has been a wave of real estate startups in the technology field, commonly known as “Proptech”, where the real estate organizations have agreed that they need to engage with other companies to adapt to change. In this model, they eliminated the involvement of an agent to acquire property, and to speed up the transaction process the company uses an algorithm to calculate the value of a home. This reduced the process of purchasing a new home from a three-month process to a week’s process. 

There are a couple of benefits that this innovation provides, they include fast processing speed, it has grown the real estate market, and also it has streamlined the traditional methods of buying and selling property. One of the major adopters of this technology is Opendoor company which is tasked with managing home sales on a big portion of Dallas and Phoenix (Gavin, 2018). The company has recorded great sales since the time it adopted this technology. With their success, they have been able to expand to other markets. 

The barriers that limit the adaptation of this new technology are similar to the challenges that come with the development of new technology. They include fraudsters in the application, the possibility of an error occurring in the calculation of the algorithm, and poor maintenance of the application by the developers. The people who were affected by the development of the descriptive technology were mainly agents because they were the middle-men in the transaction and with the technology their services were no longer required hence removed from the business transaction. 

Part Two

           Technology is evolving daily and in the future, there could be existing disruptions that we had not foreseen. These changes in technology could impact a lot including the existing market and the normal human beings’ daily activities. Disruptive innovation is a development that creates a new market or value network, disrupting established markets or value networks in the process. In this section, I have identified three technologies, namely; Artificial Intelligence, DNA data storage, and Self-driving cars.

           Artificial Intelligence is a broad subject especially concerning technology because it is a broad subject that will amplify human effectiveness but, in the end, it will threaten human autonomy and capabilities. AI has allowed the creation of a human-robotic version, commonly known as Susan. This has raised ethical concerns among the community because the robot has incorporated all human-like tendencies and behavior. This shows that in terms of technology were are really growing and new developments should be openly welcomed. 

           The market that has openly welcomed this technology is mostly the security sector, through the creation of robots that can guard people at night relieving the night guards some duty because robots do not experience fatigue like human beings. For example, in homesteads where they are situated on a very large piece of land, they have adapted a robotics security guard that is normally roaming around the compound in case of any security breach. It is changing the market through the innovation of new ways of delivering a service or a product. 

           The innovation will disrupt the market in the future because like any endeavor, even computers have errors and one cannot predict how the future will be like with human robots walking among us just like ordinary beings. Also, it will diminish the value of a human being hence the ethical concerns with the undertaking of the new technology. However, there are benefits that it will provide to the customers such as safety as mentioned above. AI requires that the innovation be placed in the right -hands of the right people. Because if it falls on the hands of the wrong persons then it will turn out to be disastrous. 

           DNA data storage is also another invocation under the AI bracket. DNA storage handles the test of genetics information storage and life span. This technological innovation empowers the ability to empower extraordinary measures of innovation to be put in a small place with less corruptible structures. Information gathered during the research will go a long way in helping newborn babies and also help in knowing how to improve in that area for the future. That data can then be stored wherever it’s needed. For example, it could be stored in your car engine, for use with repairs. DNA data will radically change how humans handle, store and retrieve data (Panetta, 2020).

           With regards to the market, it has been affected positively because through editing genes one can do the recoding of cancer. This is greatly impacting the healthcare sector as it is providing treatment for terminal diseases like cancer. The innovation will disrupt the market since it has opened a bright door to the future and this shows that it is well promising. 

           The major benefit that it will provide to the customers is gaining back their health. This allows one to be both emotionally and physically settled because once the genes of the patient are edited there is a drastic change in the health of the individual. This has already been tested on other patients and it has been proven to be effective, it was first tested on 14 months old who were suffering from leukemia (Harris, n.d.). This innovation could impact the existing market through the significant reduction of healthcare costs and the pain that comes with chemotherapy radiations. 

           Lastly, self-driven cars, this is an innovation that has been taken up very recently, and the most popular car brand being the Tesla. It is a vehicle that is fit for detecting its current circumstance and moving securely with practically no human input. Autonomous vehicles combine a couple of sensors that help in perceiving the surroundings, such as radar, GPS, sonar, and odometry (Wikipedia contributors, 2021). 

           The market is taking up the innovation in a very positive manner because, recently, a lot of people are buying automated cars. The innovation was a result of an overlooked section of the population. However, it is also a form of luxury as it allows the drivers to rest as the car drives itself to the destination. The innovation will disrupt the market because once they flood the market the petrol refilling companies will be removed from the business since all automated cars are charged and they do not use fuel.

           There are a lot of benefits that come with this innovation, especially on the customer’s side. The technology impacts the market with product performance improvement because there will be no more environmental pollution that was occurring because of the emission of fuel fumes to the air. Moreover, this is a good innovation especially for persons with disabilities, esoecially those using a wheelchair since even though you’re in a wheelchair you will get to your desired location. The general requirements for the success of this innovation are high AI knowledge and accurate sensors. 

References