I originally published this article in my book Digital Transformation Success Secrets. It will give you a flavor of how we became a digital world and where we are going. It is a foundational explanation of digital technologies – not business continuity/critical event management specific. Marty
The digital world is changing incredibly fast. We are now using products and services that were only possible in science fiction movies a few short years ago. It is the exponential advancement of technology that has driven this type of change and opportunity.
You can build and deliver amazing products and services whether you are a sole digital developer working in a spare room (been there / done that) and/or a corporate technologist working at a firm with thousands of people
(been there / done that) or as a business officer or director (yeah, been there and done that as well).
Technology has been growing exponentially rather than in a linear fashion for many decades not just the past few years. Never make the mistake of thinking that it will stop or slow down. Technology will only get better, faster and cheaper.
I have always been keenly interested in the compounding effect of exponential growth. When I was in school I had a finance course that did not particularly excite me. One day the instructor talked about compound interest and the ‘rule of 72’. I lit up like a smart bulb (more on those
later). The professor was shocked at my enthusiasm. I totally got it. Technology is like compound interest, only better.
Prior to the recent digital convergence many of th eautomation and process improvements impacted businesses internally behind-the-scenes. I built a lot of internal solutions that benefited corporations and their shareholders. Many of them are in use today.
Somewhere around 2016 technology achieved an inflection point. The core building blocks of digital technology that I describe below had matured to a degree that they now empower us to create futuristic products and services.
Importantly and contrary to what was thought to be possible, as technology improved it got faster, better AND cheaper. It defied what marketing gurus thought was possible.
Just as in programming Boolean logic, there is world-changing difference between the ‘or’ in the first scenario and the ‘and’ in the second scenario. It is world changing to have the ‘and’ to build with instead of the ‘or’!
If you found this information interesting I am confident you will be interested in the post – Digital Convergence.