Ride-sharing services such as Uber are roiling the transportation industry, causing many traditional taxi and limo services to fear for their very existence. How did all this come about -- and seemingly overnight at that?
According to Paul Nunes, executive director of research at Accenture's Institute for High Performance, Uber, Lyft, and similar services are able to use inexpensive technology to address inefficiencies and customer unrest. The co-author of "Big Bang Disruption: Strategy in the Age of Devastating Innovation" says these companies' apps provide great value by matching supply with demand.
Uber has other technological advantages as well, including the ability to track cars by GPS, have a full profile and background check of the driver, and pay via stored credit card for a cashless transaction. All this, combined with Uber's fantastic growth, is why it's currently valued somewhere in the $17 billion range.
In this video from the International CES in Las Vegas, Nunes explains more about Uber, Lyft, and other big-bang disruptors.
But here's the trend that could kill Uber
Even disruptors get disrupted, and there is an emerging technology out there that could kill off taxis and all the ride-sharing services. And it's no long a question of if, but when, according to the industry's foremost research firm. Find out how you can cash in on this technology before the crowd catches on, by jumping on to one company that could get you the biggest piece of the action. All the details are laid out in a new free investor alert from The Motley Fool. Click here now to learn more!