Richard Martin's Monday Morning Brilliant Manoeuvres 25 February 2013
February 25, 2013
Use technology to move faster and make decisions faster than competitors.
Technology has always been a key factor in warfare. The side that is better able to exploit a new technology and do so faster and in greater numbers than potential or actual enemies will tend to prevail. The same applies in business. Technology is evolving at an accelerating rate. Visionary inventor and entrepreneur Ray Kurzweil calls this phenomenon the Law of Accelerating Returns. As an example, the speed and quality of genome sequencing basically doubles every year while the cost continues to drop rapidly. IBM?s Watson supercomputer, which last year won Jeopardy by beating the two best ever human competitors (with a score that surpassed their combined scores), is now being turned by IBM to the development of AI-based medical diagnosis. It is conceivable that within a few years we will have access to our own medical records and biometric information in a continual manner as well as near instant health monitoring and diagnosis. How will this change medical and healthcare practice? What does this mean for doctors, nurses, hospitals, pharmacies, pharma companies, and health and life insurance companies? If I were in these fields, I would be developing scenarios and finding ways to be at the forefront of technology and innovation so I could be in a better position to preempt competitors and occupy the rich economic terrain that will open up. I would be actively looking at the impact of technologies in all fields, even outside of my own, because new threats may arise or, more important, new opportunities WILL arise. I would want to be on the winning side by setting the conditions and shaping the battlefield to my advantage.
Be on the lookout for evolving technologies in all spheres of endeavour and seek ways to incorporate them into your business or to leverage them for competitive and strategic advantage.
Richard Martin is a consultant, speaker, and executive coach. He brings his military and business leadership and management experience to bear for executives and organizations seeking to exploit change, maximize opportunity, and minimize risk.
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