Predicting how successful a new technology will be

From Joan Isabella, StartupNation Radio consultant

What if you could tell what technology was going to be adopted in the future. If you could find an equation to identify the market needs and strengths of a new idea, you could start a business, or invest in one that would make you rich, Rich, RICH!

Pip Coburn thinks he has it figured out. He’s written a book called The Change Function. In it, Coburn attempts to create a formula that will predict the success of any given emerging technology.

Lee Gomes reviewed the book in the Wall Street Journal saying (from my perspective) Coburn didn’t quite hit the mark, but the basic premise is decent food for thought. That basic premise is this:

People will adopt a new technology if the pain of not adopting it is greater than the pain associated with adopting it.

One example was the Blackberry. The pain was the fear of missing e-mails and web connections on the road. According to the theory, that fear/pain was greater than the cost and learning curve needed to embrace the new technology.(here’s more about the equation if you are so inclined).

Pip Coburn may not be able to account for human emotion in his equation, or predict at exactly what price the pain becomes unbearable. There may always be guesswork in the process, but he gives a framework for contemplating the possibilities.

And aren’t the possibilities what it’s all about!

Total
0
Shares
Previous Article

Setting up a Partnership

Next Article

When is Bragging a Good Thing?

Related Posts
crypto
Read More

5 Ways to Leverage Crypto to Scale Your Business

For businesses to grow and scale, they need to find new and innovative ways to improve their products and services and make their business processes more efficient. One way that many businesses are achieving these goals is by tapping into the world of cryptocurrency. Cryptocurrency adoption among businesses and consumers has never been higher. It...
artificial intelligence
Read More

Why SMBs Shouldn’t Be Afraid of AI

Data overload is a common challenge that unites businesses of all sizes; whether they’re multinational corporations with millions of customer records, or small and medium businesses (SMB) with hundreds of receipts to log. Large enterprises are handling their data by embracing AI in their droves – so why are some SMBs still holding back from...
recruiter
Read More

The Role of a Recruiter and HR in Small Business

You’ve launched your business and it’s humming along. Like most entrepreneurs, you wear plenty of hats, including chief human resources (HR) and recruitment officer. Here’s the problem, though: You can’t handle all your employee-related responsibilities forever. If you do, you could find yourself in trouble. The issue isn’t just that you’re going to spread yourself...
display monitor
Read More

Dell Helps Businesses Identify the Best Display Monitor for Each Employee

As companies of all types and sizes struggle to survive and thrive in highly competitive markets, increasing employee productivity can provide a crucial edge. Even small gains, multiplied across all employees, can drive  considerable growth. The less quantifiable benefits can be even greater, as happier, more productive employees are far more likely to deliver exceptional...