Innovation to evolve exponentially

Pertaining to everything from network speed to hard drive capacity to the number of pixels in our digital cameras, it seems that the natural behaviour for technology advancement follows an exponential growth curve.

New game-changing technologies like the metaverse and autonomous driving will develop more slowly than originally predicted. These advances are following the pattern we see time again for new technology trends: First, we get too excited; then the excitement wears off and we become pessimistic and conclude definitely that the technology is not going to come to fruition; and then it ultimately does months or even years later. Metaverse, self-driving cars, and more are still on the horizon – they are just going to take longer than people initially thought.

Secondly, Cloud and edge computing will become more ubiquitous with implementation of IoT and 5G. Unlike these headline-driving technologies that still have a way to go, IoT and 5G are ready and accessible for businesses. It is believed that every company is going to become a digital company, and IoT and 5G are only going to drive that further. Further, consumers also benefit through wireless hotspots and sensor capabilities.

Today, the environment has totally changed and there are new benefits for the companies wanting to go local, like having more day-to-day control and avoiding national security concerns. AI will be pivotal in underpinning the next wave of technological advances, such as personalized healthcare, real-time supply chain management and monitoring, and so much more.

Going forward, the winning tech companies will move from selling a product to selling business outcomes and solutions. It sounds simple, but this is a new and different approach to the market. It’s moving beyond just selling the technology – you’re also selling how this product will innovate and improve the business overall as per John Chambers, Chairman Emeritus, Cisco / CEO, JC2 Ventures.

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