In this article, we shall discuss the 30 most important scientific discoveries of all time. To skip our detailed analysis of how innovation is shaping the microeconomic outlook in 2023, go directly and see 10 Most Important Scientific Discoveries of All Time.
In its most pedantic definition, innovation can be described as the ability to conceive, develop, deliver and scale new products, services, processes and business models for consumers. Successful innovation delivers substantial net new growth and increases overall value. However, according to a survey by McKinsey, less than 10 percent of executives interviewed report being satisfied with the performance of their respective companies in innovation. They complain that their organizations are more established in operational capacity than in an innovative one, producing little to no creative game changers and getting by merely by optimizing existing core businesses. In our article 25 Most Innovative Companies in the World in 2023, we have established that some of the most innovative companies in the world today are Amazon.com Inc. (NASDAQ:AMZN), Alphabet Inc. (NASDAQ:GOOG) and Apple Inc. (NASDAQ:AAPL). By investing in and maximizing innovative capabilities, these companies have achieved a substantial performance edge which differentiates them from their competitors in the market and in the process, have made some of the most important scientific discoveries of all time. Their success story is conclusive evidence that generating innovative capacity can lead to increased profitability, two and a half times higher than that of other competitors in the industry.
Innovation – The Key In Tackling Disruption
2023 so far has been characterized by significant macroeconomic disruption and uncertainty, as structural supply-chain issues, rising interest rates, and sustainability challenges imperil organizations around the world. In such a precarious climate, most companies tend to adopt a defensive mindset and wait for the situation to normalize. According to an article by McKinsey and Company, this is proving to be a high-risk strategy, as merely managing expenditure and trying to boost productivity is not likely to beat the growth challenge that more than 95% of companies struggle with today. The article asserts that companies need to follow in the footsteps of innovators like Amazon.com Inc. (NASDAQ:AMZN), Alphabet Inc. (NASDAQ:GOOG) and Apple Inc. (NASDAQ:AAPL) and capitalize on emerging pockets of growth which can secure long-term prosperity. To outperform the current macroeconomic challenges, management teams within companies must refocus on developing innovative capabilities by identifying lucrative opportunities for growth and diversification, and developing new products, investing in creative business models focused on making some of the most important scientific discoveries of all time, and forging new partnerships.
Business models which are optimized to a specific set of global conditions have proven to me more susceptible to the current headwinds and need to divert greater focus on innovation as a way to open newer paths of viability. For instance, this has already panned out in the disruption of countless industries in light of shortages affecting consumer goods, retail and auto sectors, and the exacerbation of the global energy crisis. However, businesses which are resisting the headwinds by reshoring production or divesting into digital offerings are spearheading the economy out of disruption. This pattern has also played out during previous cycles; for example, during the economic turmoil of 2002, the company Best Buy Co. Ltd. (NYSE:BBY) realized that it could not afford to resist headwinds by relying on assortment breadth and competitive pricing alone. Hence, the company made larger investments in business model innovation, producing its flagship Geek Squad consumer support service which its competitors could not provide.
Roadmap To Innovation: An Overview
McKinsey highlights numerous ways in which companies can deliver on and implement innovative solutions to resist economic headwinds, drive growth and make the most important scientific discoveries of all time. One of the main ways companies can do this is by selecting a balanced portfolio of short and long-term innovations. As consumer demands change, overdoing insubstantial product tweaks which may only address temporary needs are not likely to drive long-term performance. However, revisiting and innovating on designs and processes can produce savings which will help provide for long-term investments in innovations which may lead to significant growth.
Companies must also identify and tap into emerging adjacencies. Economic uncertainties like the COVID-19 pandemic, supply-chain turbulence, and geopolitical shocks have led to major companies like Amazon.com Inc. (NASDAQ:AMZN), Alphabet Inc. (NASDAQ:GOOG) and Apple Inc. (NASDAQ:AAPL) to tap into adjacent markets. Transport companies discovered lucrative niches in delivering restaurant food and other necessities, while most electric vehicle manufacturers monetized battery production and invested in recycling. A survey by McKinsey in 2021 demonstrated that during the first 9 months of the pandemic, top economic performers innovated nearly twice as fast as their low-performing competitors in generating new products and services. Some of these markets may exist in many of the countries covered in our article on the 21 Most Innovative Countries in the World.
Lastly, companies need to adapt to the changing macroeconomic environment by evolving business models accordingly. Innovating business models can encourage organizations to drive an increasing number of core competencies into action, all the while driving adaptability and greater growth. Such innovations may affect value propositions, production models, routes to market, and the investment of assets and capabilities. This may come with a significant strategic upside as well.
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Our Methodology
To compile our list of the 30 most important scientific discoveries of all time, we decided to undertake a consensus-based approach using a diverse variety of credible sources (1, 2, 3, 4, 5). After shortlisting more than 50 of the most repeated scientific discoveries, we evaluated the importance of each discovery based on its influence on subsequent discoveries (20 points), level of innovation (15 points), and longevity of impact (10 points). We then proceeded to score each discovery according to the aforementioned criteria and selected 30 discoveries which scored the highest points. Subsequently, we ranked each entry based on the total points scored, from lowest to highest. Where there was a tie, we broke it based on the influence on subsequent discoveries.
To read more about discoveries and inventions that changed the world, check out our coverage of 25 Most Important Inventions of the 21st Century.
30 Most Important Scientific Discoveries of All Time
30. CRISPR
Average Score: 9
Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR) is a gene editing tool that works as a part of the bacterial immune system which cuts DNA. It aids in the research of cures for different diseases.
29. Genome Editing
Average Score: 11
Genome editing refers to a method that makes specific changes to the DNA of a cell or an organism. This is an important discovery because it helps in understanding and treating diseases.
28. Medical Imaging
Average Score: 12
Medical imaging includes X-rays, MRIs, and ultrasounds. In contemporary medicine, medical imaging has become incredibly important in diagnosing and treating major diseases and illnesses.
27. Nuclear Fission
Average Score: 13
Nuclear fission aided in the invention of the atomic bomb by splitting the atom, a process which releases an exorbitant amount of energy.
26. Atomic Bomb
Average Score: 13
The atomic bomb is one of the most important scientific discoveries of all time. It permanently altered warfare and the very nature of international relations.
25. X-Rays
Average Score: 14
Discovered in 1895, X-rays aided in the development of radiology. They help identify broken bones and organ failures in the body.
24. Steam Engine
Average Score: 15
The steam engine was a revolutionary invention which turned heat into motion and was used in powering trains, ships, and factories. It played an important role in the Industrial Revolution.
23. Microscope
Average Score: 15
The microscope was invented in the 1600s and helped scientists understand and learn about bacteria, germs, fungi, and plants. It transformed how scientists understood organisms and opened the doors to the world of microbiology.
22. Heliocentrism
Average Score: 17
Heliocentrism is a scientific discovery or model that puts forward the idea that the Earth and other planets revolve around the sun. The model served as a foundation for other relevant theories.
21. Painkillers and Anesthetics
Average Score: 18
The development of painkillers and anesthetic drugs is one of the most most important scientific discoveries of all time and has played an enormous role in the advancement of medicine, since prior to their discovery, surgery was thought to be the only line of treatment.
20. Gravitational Waves
Average Score: 19
The idea of gravitational waves was first proposed by Albert Einstein in 1916. The discovery of these waves later helped in understanding various phenomena including the blackhole, the cosmos, and gravity.
19. Scientific Plant Breeding
Average Score: 19
Scientific plant breeding is a field that involves developing new varieties of plants using methods that are science-driven. This includes cultivar development and seed improvement.
18. Quantum Theory
Average Score: 22
Quantum theory was developed around 1900 and since then it has contributed to revealing important details about the universe at atomic and subatomic levels.
17. Periodic Table
Average Score: 23
The organizational capacity of the periodic table is one of the most important scientific discoveries in the field of chemistry. It allows scientists to organize and get any information about an element.
16. Vaccines
Average Score: 25
Vaccines have helped in the development of medicine as they became a way to prevent or cure diseases like smallpox and cholera. It decreased the mortality rate to a great extent.
15. Higgs Boson
Average Score: 27
The Higgs Boson, also referred to as the Higgs Particle, is a particle in the field of physics with no spin, electric charge, and color charge. This particle establishes many basic concepts of physics.
14. Artificial Intelligence
Average Score: 28
Artificial intelligence is an extremely important scientific discovery, which forms the basis of all contemporary computer learning and may contribute to complex decision making in the future.
13. Telephone
Average Score: 28
The telephone was a scientific discovery made by Alexander Graham Bell. This discovery revolutionized communication and the global business, and has cemented its place as one of the most important scientific discoveries of all time.
12. Evolution
Average Score: 31
Evolution is an extremely important scientific discovery since it manages to explain how life developed on Earth and the connection and purpose of all species.
11. RNA-Sequencing
Average Score: 32
RNA-sequencing is a method that allows us to identify the sequences of the bases that make up the molecule of the RNA. This method helps us discover functional genes and understand the expression of tissue and cellular genes.
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Disclosure: None. 30 Most Important Scientific Discoveries of All Time is originally published on Insider Monkey.
