[May 23, 2013] Disruptive technologies may have an economic impact of $33 trillion Tweet BANGALORE, May 23, 2013 (Mint - McClatchy-Tribune Information Services via COMTEX) -- Automation and advanced robotics are among a dozen emerging technologies that will transform global businesses in the next 10 years, consulting firm Mckinsey and Co. said in a report. The new disruptive technologies and their applications, which include mobile Internet and cloud computing, could have an economic impact of $14-33 trillion till 2025, McKinsey Global Institute (MGI), the research arm of McKinsey, said in the report released on Thursday. Cloud computing refers to practice of using a network of remote servers hosted on the Internet to store, manage and process data, rather than a local computer. "Many technologies have the potential to meet these criteria eventually, but most leaders need to focus on technologies with potential impact in the near to mid-term to anticipate and be prepared for," said Anu Madgavkar, senior fellow and head of MGI's India hub. "Therefore, the analysis focused on 12 that have significant potential to drive economic impact by 2025." The other technologies that were included in the list include remote monitoring and sensor technology, improvements in ground transportation technology, energy storage, 3D printing, advanced materials such as super-slick coatings and ultra-thin display screens, advanced oil and gas exploration, renewable energy and new gene-sequencing technology. Some of these technologies, such as automation and cloud computing, are already in place in India's corporate sector. Companies in India's $108-billion information technology sector have already started adopting automation to bring about efficiencies in business and also to attract clients who are increasingly asking for projects to be completed faster and at lower costs. Recently, India's second largest software service provider Infosys Ltd signed a revenue-sharing agreement with IPsoft, which uses software robots to replace human engineers. ___ (c)2013 the Mint (New Delhi) Visit the Mint (New Delhi) at www.livemint.com Distributed by MCT Information Services [ Back To TMCnet.com's Homepage ]