Lux uses data and insights to spot disruptive technologies
Executives tasked with identifying key technology innovations for their company are typically stuck relying on either subjective opinions or an excess of raw data without context or insight. To provide a reliable guide, we identified the technologies with the greatest potential to transform the world using both unique data analytics and insight from leading domain experts.
We started with data from our advanced analytics platform, the Lux Intelligence Engine, on which technologies are seeing the greatest innovation interest and growth. Then, we tapped our team of expert analysts to flag technologies with high innovation scores that may still face market roadblocks that make them dubious bets – or bring up technologies that have less impressive scores but fit a key unmet market need that will enable them to make a major impact.
The result is our 19 for 2019 report, which identifies and ranks 19 technologies that will reshape the world in the next decade. It also provides our analysts’ commentary on what the impact of each technology will be and what industry participants should do in response.
The top 5 transformative technologies to watch in 2019:
- Machine learning and AI. These programs can quickly generate insight from vast datasets for uses in retail, transportation, medicine, and more – 10,000+ AI patents were filed in the past year.
- Wearable electronics. Wearables are evolving beyond the smartphone to serve as connected, personalized sensors – venture capital funding over the past five years has totaled $2 billion.
- 3D printing. Long used for prototypes, this type of digitally controlled manufacturing is now being used for tooling and production parts – patent filings have soared 60% since 2014.
- Genome editing. Use of CRISPR and other tools can provide the next level of personalization and customization from farms to consumers and patients – IP activity is up 7x from five years ago.
- Augmented reality (AR) and virtual reality (VR). Enterprise uses for AR and VR are on the rise for training, quality, productivity, and more – $2 billion+ in VC funding pours in each year.
For each of the 19 technologies identified, the report provides an innovation interest score, key data points, commentary on what the expected impact is and what clients should do, as well as links to Lux Tech Pages that provide additional data paired with expert analysis, case studies, key players, and more.
Lux also examined which companies are the innovation leaders in these technology spaces, comparing both the firm’s “vision” – how many of the 19 for 2019 technologies the company is a leader in – and the firm’s “activity” – the total patent activity across all innovations over the last 10 years. These two factors define:
- Focused winners like Google, Siemens, Qualcomm, and Intel, which don’t have as much total activity as others but have strong vision to concentrate on the right innovations.
- Conservative giants like Toyota, Panasonic, LG Electronics, and Huawei, which have high activity, but lower vision scores as they focus innovation on their core businesses.