1) Regardless of the established user industry, new technology is profitably adopted first as efficiency enhancements to existing processes. The really big impact, however, comes when the technology is applied to enable completely new processes or applications.
2) Tech always underestimates the cost and complexity of integration – that is a fundamental part of successful innovation. If the mountain is too high no one begins the climb.
3) The low hanging fruit is efficiency innovation because that is where the money is. This will not, however, lead to the promised land. Efficiency innovation will extend the life of existing institutions, but mass application will eventually destroy them (at least in the form they exist today). Unfortunately fro America, this is like to take several decades here versus a much shorter time elsewhere without the establishment.
A couple of observations/opinions:
1) Regardless of the established user industry, new technology is profitably adopted first as efficiency enhancements to existing processes. The really big impact, however, comes when the technology is applied to enable completely new processes or applications.
2) Tech always underestimates the cost and complexity of integration – that is a fundamental part of successful innovation. If the mountain is too high no one begins the climb.
3) The low hanging fruit is efficiency innovation because that is where the money is. This will not, however, lead to the promised land. Efficiency innovation will extend the life of existing institutions, but mass application will eventually destroy them (at least in the form they exist today). Unfortunately fro America, this is like to take several decades here versus a much shorter time elsewhere without the establishment.
3)