The Technological Imperative

Throughout my participation in this 16-week course, I noted one major takeaway: technology, particularly artificial intelligence, is the future. It is no longer a matter of what, but rather when. The technological advancement in recent times is unprecedented. Once the shift begins, there will be little to stop the takeover. Automization is creeping into all aspects of life. Tasks normally distributed to man will be soon replaced. Jobs in medicine, business, manufacturing, intelligence, even agriculture will no longer be the work of humans. Companies like Amazon have already begun fully automated, robot-controlled warehousing. The reason is simple: robots are both far more accurate and efficient than humans; there is no human error with a robot. Why pay for fallible humans when machines can do better for less. The breakthroughs in machine learning have changed what a robot means in its traditional sense. Machine learning entails algorithms that enable technology to study trends from data, predict, and act accordingly. Something that vaguely resembles the slower learning process of a human.

Broadly speaking, AI is programming that gives machines the ability to analyze data and solve problems the way a human could, but faster and possibly more accurately. An article on Deloitte.com sums artificial intelligence perfectly stating, " AI is concerned with getting computers to do tasks that would normally require human intelligence".  Before machines were largely responsible for automating tasks like bottling soda or sewing a shirt. Today, machines are attaining higher levels of sophistication that allow them to automate not only tasks but entire processes. Although a machine-dependent world is still far in the making, recent advancements in AI technology have proven that AI will quickly dominate moving forward.

This insightful report by Mckinsey states, "We estimate that between 400 million and 800 million individuals could be displaced by automation and need to find new jobs by 2030 around the world... Of the total displaced, 75 million to 375 million may need to switch occupational categories and learn new skills." Obviously, these numbers are particularly scary. In less than 15 years, automation will cause one of the greatest social disruptions in history.
However, because of the efficiency of machines consumption and spending will too increase. As chapter 4 of Technological Innovation mentions, when technology is proliferated across several industries, a technological revolution is likely to fuel an economic expansion. If GDP increases, jobs are sure to follow. Traditional occupations will dramatically shift. A surgeon will no longer operate with a team but rather with assistance from a machine and video capsule. A small construction company will downsize from a force of 20 to 3 employees and 10 machines.  Lower skilled work will be the first to fully automate. Skills in labor, software, and even writing will be first to go. With many existing skills becoming obsolete, people will be forced to enter different fields and obtain more relevant skills. Programming, machine learning, leadership, and creative skills will be particularly in demand.

Chapter one of Technological Innovation  states,"The basis for our modern age, characterized by so many new technologies and rapid technological progress, is the science base of modern technologies-scientific technology." Scientific technology is unique from traditional technology because it is defined by its process of manipulating nature. This means the scientific technology can be good or bad depending on how nature is exploited.

As the world dives into a technological revolution, the need for ethical guidelines has become imperative. The question becomes: To what end will humans chase "progress"?  Nuclear warfare, internal tracking chips, and fully autonomous robots are definitely advancements, but at what cost? It is clear that the creation of such dangerous weapons only leads to destruction. The constant surveillance of large corporations is at the expense of privacy, a basic human right. Companies like Google, Facebook, and other telecommunication companies are publically known to track internet history and location. The most frightening of all is robots, with the ability to make autonomous decisions. This means machines can become so sophisticated that they can very well gain power beyond human control. While it seems far-fetched and something out of a Sci-Fi TV show, these issues have industry giants like Elon Musk worried. Just recently, in this article from March, Elon warned, "And mark my words, AI is far more dangerous than nukes. Far. So why do we have no regulatory oversight? This is insane." Just as he insists, there must be controls set because dangerous technology is being created. At a minute level, and largely due to recent events, I found our class discussing guns. The difference between automatic guns and a hand knife is that, like nukes, it was created for one purpose: death. A tool is determined by its purpose and nothing more or less. Thus it makes me wonder why is technology being created for reasons as such? How far will it continue to go? Who will protect people when large corporations are watching our every move? These are big considerations but at the very least we must dare to start asking questions.

Benedictine University: http://www.ben.edu/index.cfm
Daniel L. Goodwin College of Business: http://www.ben.edu/college-of-business/index.cfm
Entrepreneurship: http://www.ben.edu/college-of-business/undergraduate/entrepreneurship.cfmz
ENT 320: http://www.ben.edu/college-of-business/undergraduate/entrepreneurship.cfm
Jodi Houlihan: https://www.linkedin.com/in/jodihoulihan/
Atiya Mahkri: https://www.linkedin.com/in/atiya-mahkri/

Introduction to Technological Innovation

Technology is the application of knowledge. Science, on the other hand, is the understanding and development of knowledge. Innovation is the means to which value is created from what is existent. The means to innovation is recognition of areas of improvement, creativity in problem-solving, and embracement of change. The famous nuclear physicist, William Pollard said,"Learning and innovation go hand in hand. The arrogance of success is to think that what you did yesterday will be sufficient for tomorrow." Today, the world is incessantly changing and exponentially expanding upon learning. It is in this age that innovation has become the key indicator of success for businesses. If a company can do something different and better, that is their primary means to success.

Innovation can occur in several areas: an introduction of a new good, an introduction of a new method, an opening of a new market, obtaining a new market, obtaining a new source of supply, implementation of a new form of organization. Apple, previously Macintosh, rose to popularity through its innovation of the iPod and iPhone, an innovative product. Walmart became successful after it revolutionized its approach to warehousing, an innovative method. Tesla has innovated by creating a 30k vehicle, a drastic change from its luxury counterparts. This represents the opening a new market, a lower-income, middle-class target.

In this way, studying history can help one understand the future. The trends that occurred in the past almost always repeat over. Although the circumstances change, the process is almost always the same. In addition, studying history can help us understand the world today. Why is the world the way it is? Why are people the way they are? What ideas, cultures, movements, environments, and events have shaped the way people think and communicate? These are questions that history answers. In the context of business, we can study what companies did right and what companies did wrong in the past. This approach proves the vitality of innovation and the growing importance is maintains.

Over the course of the semester and over various interviews we conducted, I have come to realize the importance of experience, expertise, and networking. The questions presented and the answers given by various managers and employees has widened my scope and imparted humility. There is a wealth of knowledge sitting in the expertise of surprisingly accessible people. Asking questions and learning from people is an invaluable way to gain relevant, practical knowledge. LinkedIn has proven to be a great resource for finding and reaching out to people in various industries. I was surprised by the enthusiasm individuals, from established companies whom I never met, had responded with. People enjoy talking about themselves and their path to success, most being open to sharing great details. There are plentiful tips and lessons to take away when engaging with others. This is a newer, more profound realization I came to regarding networking that lays beyond its potential to provide opportunities or jobs.

From the discussions I partook in during class, I have come to immensely appreciate the field of technological innovation. Not simply because it is a distinct study, but because of its proliferation in almost all other fields today. Whether it is in the medical, veterinary, aerospace, transportation, food, agricultural, telecommunications or consumer goods industries. Some often discussed were prosthetics, 3D printing organs, virtual reality gaming, artificial intelligence, virtual assistants, military weapons, and wearable/internal technology. Innovation drives the high commodity industry. This industry is characterized by high demand and prices. Eventually, as the technology becomes more accessible, more inexpensive, and less novel, the high tech products gradually become commodities or valuable necessities.

The world is changing so fast it can sometimes be frightening. We no longer have the ability to be bystanders in the technological revolution of recent times. We have to adapt and change with the trends or we can fall far behind. In business, this is a fundamental reality. All monetary success today is contingent on a company's ability to find gaps, uncover problems, and understand behavior that in turn inspires innovation. Constant innovation is the immanent driving force of prominence today as can be seen by companies like Amazon, Salesforce, Tesla, Apple, among others.

Benedictine University: http://www.ben.edu/index.cfm
Daniel L. Goodwin College of Business: http://www.ben.edu/college-of-business/index.cfm
Entrepreneurship: http://www.ben.edu/college-of-business/undergraduate/entrepreneurship.cfm
ENT 320: http://www.ben.edu/college-of-business/undergraduate/entrepreneurship.cfm
Jodi Houlihan: https://www.linkedin.com/in/jodihoulihan/
Atiya Mahkri: https://www.linkedin.com/in/atiya-mahkri/