And although there will always be disruption in technology, Jeremy Burton, EMC's president of products and marketing, noted most tech companies want to create or develop a disruptive technology because it affords them a dominate edge in the marketplace.
So, what's the latest and biggest disruptive technology these days? Try the cloud.
Right now, just about every large tech company is trying to figure out what future role it will have in the burgeoning cloud industry, Burton said.
Look at EMC, for instance. The company's core business is data storage, he explained. In the past, all data storage was placed on hard discs. Now, data is saved using flash storage in large data centers, giving its customers the ability to use the cloud on their end.
Whether it's data storage or some other aspect of tech, companies always need to be on the look out for disruptive technologies, he reasoned. To aid EMC in its vigilance in scoping out emerging technologies, the company has its own venture fund to invest in promising startups.
Burton says EMC is constantly searching for new companies to invest in, especially ones that operate in the same fields as EMC. Sometimes these investments lead to acquisitions, Burton noted.Every company is on the lookout for potential disruptions, because they don't come around often. But when they do, it has the potential to turn a company that created the disruption into a multi-billion dollar operation while also putting other companies out of business.
EMC is one of five executive interviews TheStreet videotaped at the recent Techonomy conference in Half Moon Bay, Calif. Below are four others that are included in this series:
- Future Tech: comScore CEO on Tech Trends and the Illuminating Data
- Future Tech: Berkeley Biolabs CEO on Biotech Investments Not To Miss
- Future Tech: Cortex Composites CEO on Low-Tech Success
- Future Tech: Autodesk CEO on Printing Your Organs in 3D
- Written by Bret Kenwell