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As Polygon puts it: “Content creators using representational avatars is not, in itself, a particularly new phenomena, though the mutations in technology arguably are. But the same effect can now be achieved with a virtual reality setup and software suite that cost hundreds or thousands of dollars instead of hundreds of thousands.
It has been a while since Henry Chesbrough coined the term Open Innovation and formulated it’s definition: “combining internal and external ideas as well as internal and external paths to market to advance the development of new technologies.” More info: Steen, Manschot & De Koning (2011). Route 3: Spin-off.
billion , entrepreneurial companies with technology at their core have disrupted entire industries and threatened or eliminated incumbents. A 2011 IBM study of over 3,000 CIOs revealed that CIO-CEO alignment is stronger than ever, with traditional companies aggressively investing in technology innovation.
It made a massive investment (more than $1 billion) to build a software “ Center of Excellence ” in San Ramon, California to manage the data explosion created by the increasing intelligence of its industrial machines. GE is now approaching $1 billion in new revenue annually from their expanded software and data activities.
Sensors, the cloud, mobile and broadband wireless, and other such technologies are increasing the flow of digitized information exponentially. In 2011 GE, the company famous for exporting great leaders, imported one when it recruited Bill Ruh from Cisco to lead GE’s push into software and analytics. This is not guesswork.
There are many reasons why Silicon Valley might have been a top contender: for years, it''s been the premier technology hub of the world. Universities like Stanford, Caltech, and UC Berkeley continue to churn out the next generation of founders and engineers. In fact, Silicon Valley wasn''t even on our short list. In a word: culture.
In 2011, Thierry Andretta, the CEO of French fashion company Lanvin, announced an initiative called "no email Wednesdays" because he thought people had stopped actually talking to each other. Since taking the job four years ago, he has sought ways of giving greater responsibility to his 80-person division of softwareengineers.
“Once, you needed mechanical engineers. Today, there’s a greater need for softwareengineers because cars are computers more than anything else.” He hired salespeople and marketers from Google, who transformed Volvo’s use of technology and social media in those disciplines.
That means new technologies and new competitors are hitting the market at an unprecedented rate. and technological uncertainty (can we make a desirable solution?) Technological uncertainty results from unknowns regarding the technologies that might emerge or be combined to create a new solution.
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