How the Bio Revolution Could Transform the Competitive Landscape for Companies
A new McKinsey Global Institute research found that more than half of the potential direct economic impact from biological technologies—applied to nearly 400 use cases in multiple sectors—is outside of healthcare, notably in agriculture and food, materials and energy, and consumer products and services. The likely disruption of the Bio Revolution is vast and poised to influence a wide range of industries.
Authors Chui, Evers, and Zheng wrote about how the Bio Revolution is bringing with it a new array of capabilities that will fundamentally transform how companies compete. Like the recent rise in data-science and software-engineering skills, new specialty skills in fields such as genomics, molecular biology, biochemistry, and neuroscience will be in increasingly high demand. Indeed, the merging of digital skills with biological skills is a potent combination. These new capabilities are driving faster and cheaper production methods, creating better-performing inputs with superior characteristics, and, ultimately, delivering added-value products and services to end customers. It’s no wonder we are seeing many players trying to gain first-mover advantage.
Read about the opportunities and risks of this revolution in the full article HERE