Globalization will bring faster transfer of technologies for firms that seek newer markets to expand their footprint and will push rapid adoption of exponential technologies that leans on accelerating technology — so network sensors, AI, robotics, synthetic biology, 3D printing — these technologies that are all on exponential growth curves. They’re also relying on what we call exponential psychological tools. These are crowdsourcing, crowdfunding, and community building, that let entrepreneurs get access to capital, get access to expertise, really scale up their reach farther than ever before. 

Future of outsourcing revolves around rapid agility towards understanding the driving forces like demographic changes, New work arrangements, launch of smart, connection systems / products and services, rise of highly optimized supply chains, rampant business innovation, demand for resourceful plant and sustainability – almost all of these will have a direct impact on outsourcing with shrinking of jobs in this sector.

Exponential technologies like Cloud, AI, Block Chain, Big data Analytics, Internet, social media, 3D printing etc while they drive innovation and rapid pace of technology change will bring havoc into the world of outsourcing if we cannot adapt quickly to it.  Traditional systems built-in eighties, nineties will give way to these new and hybrid models that require human element to adapt quickly.  The pace at which these take shape will be much faster than how last two decades shaped the technology world.  Cellphones are a classic example. Back in the ’80s, these were a luxury technology that only the wealthiest could have and then it kind of slowly moved down the scale until where we are today with more than 50% of the world population carrying a supercomputer in their pocket. That’s how fast technology will move and will become available for mass consumption leaving no one untouched.

These newer technologies get introduced and it takes a while for them to get up to speed, optimized and utilized. And there’s all this hype in the beginning and people kind of dismiss them. 3D printing was in that deceptive period for a very, very long time., now it is a reality.  

Robotics, AI, RPA – all the technologies that we’re talking about in Bold are now moving out beyond hype into reality.  The opportunities that 3D printing provides are endless, think about running out of home to buy a broken part, you can make it right at home, today a fully functional small car was made right out of 3D printer in less than 2 weeks.