Technology innovation - Essay Example

That said, two themes emerged which were common across all industry sectors: The strategic value of new technology was considered to be highly variable. So distinctions were made between technologies that improved enterprise capability, viewed as strategic, and hose that promoted efficiency, which were also available to competitors. Cloud computing, for example, was felt to offer compelling cost advantages but did not necessarily provide improved capability for the organization to differentiate its services.

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Some respondents felt new technology did not always provide a competitive advantage, so it was deemed appropriate to be a ‘late adopter’ and allow the technology to prove itself first. The importance of human capital was also recognized as an increasingly critical factor in 01 determining the extent to which technology created value. Human creativity was felt to be ore significant than the technology itself. In many instances creative ideas often depended on the re-use of proven technologies in new and imaginative forms, which were successful because they also applied good process design to deliver a great user experience. In many instances the underlying technology is long established, so the essential difference is when smart people work out what can be done with it. ” 5. 2 Technology that is driving change The pace of technology led change was felt to be as fast as ever. The rate of innovation often exceeded the capability of organizations to adopt ewe technology, as they were typically slow to embrace change, and because politicians and regulators worked very slowly to make change possible in regulated industries.

That said, the four areas regarded as the source of most change and innovation were as follows: Mobility will continue to drive significant innovation. Smartness and other hand-held devices will accelerate the automation of established processes and lead to creative new solutions, products and services. Mobile devices, such as smartness and tablet PC’s, were felt to be especially disruptive as they often recruitment the need to modify complex IT infrastructure and allowed elegant solutions to be deployed quickly at low cost.

The availability of improved wireless networks was felt important, as they will accelerate the deployment of connected devices in the form of varied types of embedded sensors that combine sensing, computation and communication. Big data and analytics were felt to be the source of significant competitive advantage to those organizations who were able to manage the transition from conventional data warehousing to a real-time analytic capability which could provide liable insights and allow for the personalization of services at a granular level.

Improvements in data analytic capability would also allow organizations to manage their risk exposure more effectively. In time it was felt that many organizations would invest heavily in this area as it had the potential to yield many business benefits that could be realized quickly at relatively little cost. Collaboration tools and social networking were believed to offer significant scope for improved information sharing, project management and team facilitation, with the potential to change the ay people interact in their working lives as they have in their personal lives.

Additionally, the collaboration tools of tomorrow will integrate realities data and make greater use of scrounging to promote creativity and global team participation. Such tools were regarded as good examples of how established technologies could be used to create significant value. Their future success would depend on the extent to which they made people’s lives easier through good process design. Cloud based solutions were felt to offer compelling commercial benefits that would continue the