Jan. 10, 2022

This paid piece is sponsored by Dakota State University.

Netflix, now a streaming giant, disrupted the movie rental business by combining the technology of DVDs and the U.S. mail.

“It changed the movie rental industry, and Blockbuster is no more,” said Dr. Deb Tech, associate professor of marketing at Dakota State University. “Disruptive innovations tend to use new technologies to change the business landscape, forcing other players to adapt or go out of business.”

Tech teaches disruptive technologies in her marketing technology course. Throughout the class, students examine the Internet of Things, artificial intelligence, blockchain technology, and augmented and virtual reality. Studying these topics helps prepare students to look at upcoming trends and prepare business and marketing plans that adapt to these new technologies, Tech said.

Dakota State faculty members stay updated on new and emerging trends such as disruptive technology through research and professional development, according to Dr. Dorine Bennett, dean of the College of Business and Information Systems.

“We also have advisory board members who help faculty stay on the cutting edge of industry,” Bennett said. “During the fall semester’s business advisory board meeting, one of the companies on the advisory board shared their use of artificial intelligence, providing valuable insight for curriculum modification. Companies also share what skills and knowledge set they’re looking for in future employees through the board.”

This input makes its way into the classrooms, where Tech uses these examples to emphasize how keeping abreast of disruptive technologies helps businesses stay competitive and strategize for the future.

IoT devices

IoT devices are products that send and receive data through the internet. From smartwatches to smart speakers such as Alexa, IoT is a part of everyday life.

“A simple example is you can control your furnace thermostat through your phone,” Tech said, noting that enabling technology to be used on new products is one way for businesses to take advantage of the Internet of Things.

Artificial intelligence

Artificial Intelligence also is becoming more intertwined in business. Companies use AI tools to analyze data, set and manage prices and provide personalized recommendations to consumers, she shared.

More AI tools continue to become available for public use, including marketing applications that can analyze written copy and determine if there’s better copy that can be generated. This is something Tech’s students use and evaluate in her class.

Blockchain

Blockchain also has a growing role in the business world. While most people think of Bitcoin when discussing blockchain, there’s a lot more to it, according to Tech. It is impacting businesses and can be used in a variety of ways, particularly in supply chain functions. Blockchain applications can provide a transparent, reliable way to track inventory from origin to the consumer.

One example is found in agriculture. “Farm to plate is a popular application, as it enables transparent tracking of organic certification, production and distribution – right down to the cow the milk came from,” she said.

Another application of blockchain is the use of nonfungible tokens, which are certifications of ownership of a digital asset. McDonald’s and Burger King recently released limited NFTs, serving as digital collectibles.

“Blockchain is a very good way to track ownership of assets and is quickly moving into a process for copyrighted material such as music and art, potentially disrupting the music and art industries – giving more control to the independent artists.”

Augmented and virtual reality

Beyond blockchain, virtual and augmented realities are another growing area of technologies that can disrupt industries. Many may think of games and Snapchat, but these realities are expanding into what is being called the metaverse. The metaverse allows users to interact in a virtual reality – seamlessly moving from one experience to the next. Currently, this may be done through wearing goggles, but Tech sees that evolving into something more comfortable like contact lenses.

The metaverse has the potential for a variety of uses, with people gathering for social and business activities. Some examples from Tech include the opportunity to view a football game from the quarterback’s shoulder or attending a virtual concert. Virtual and augmented realities are just a step toward more immersive experiences, she said.

These technologies aren’t just being used by large companies such as Microsoft and Facebook.

“Many of the tools used to develop AR and VR applications are becoming very user-friendly, enabling opportunities for easier implementation by small businesses and startups,” Tech said.

Students graduating from business programs at Dakota State will be well versed in new and emerging technologies and how those can be implemented in businesses of all sizes. Click here to learn more.