Video-conferencing has become a text-book example of a disruptive technology. Airlines and the hospitality industry may be most directly impacted. But recent announcements by Boeing and its suppliers demonstrate how the disruption can quickly spread into the industrial sector. Both have announced a precipitous drop in demand for aircraft and jet engines.
Disruptive technology is defined as an innovation that creates a new market and disrupts an existing market, displacing established businesses and products, and significantly altering the way consumers, industries or businesses operate. The pandemic has accelerated video-conferencing's acceptance and adoption by businesses and government. The resulting changes in the way they operate will produce seismic changes throughout the economy.