In light of my fascination with technology and innovation, I’ve been thinking about some assumptions that many of us make that may be wrong or we don’t realize what is really happening in the technology space.
This post is to encourage all of us to innovate and stimulate our thinking about the latest technology trends.
- The future of technology is coming. What we don’t realize is that it is here already. We have the AI, VR, AR, DLT, name it. We are already on it, and we just need to think of ways on how to apply it.
- Social media makes us happy. Yes if you’re using it properly. Some people are just not mindful that they only use it as a platform to let other people perceive them as happy.
- Internet or Cybersecurity is not a big deal. Hackers stole $172B from people in 2017.
- If we create an app and place an ad, it will get traction by itself. Before even creating the app, introduce first the change that you want to contribute to your chosen market. Build your MVP and minimum viable audience (MVA), a small tribe of loyal customers first and then do the ads.
- Your business does not need an AI strategy. If this is your assumption, then expect that you will go out of business in 10-20 years.
- Innovation is always just about the latest technologies. When Steve Jobs introduced the first iPhone, the touch screen technology has been existing for quite a while already. He was able to disrupt the market by using an existing technology.
- Innovation is only for geniuses. Anybody can innovate. If you’re an employee, you can always find ways to improve your productivity by using new tools and technologies. There’s a lot of productivity tools out there such as Asana, Trello or JIRA. If you’re a developer, research and introduce coding practices like automated-tests, continuous integration and new ways to build and debug, if successful, then you can always share with your colleagues or even the management.
- That Blockchain and distributed ledgers (DLT) are the same things. If bitcoin or cryptocurrencies are the by-products of the blockchain, DLT is the mother concept of the blockchain. There several other implementations of DLT such as blockDAG and TDAG. Each has distinct characteristics that affect security and performance. If you choose to innovate on this space, then carefully study each option.
- That Blockchain is unhackable. Yes, it is, specially colluded attacks. Again, find the right balance in your implementation.
If you’re an entrepreneur and you want to build something, define your mission first more than profits. Choose your target audience. Analyze their challenges and white space. Then solve them through the latest technology that is applicable to solve the problem. You don’t need to study deeply on a particular subject if you don’t need it.
In any case, the awareness of the above can help you apply the technology rightly and may give you a proper perspective of the future.