Adoption of new technologies is picking up speed exponentially. In less than 200 years, technology has transformed our lives. Just look at the shortening of time for mass adoption of old and universally accepted technologies:
- Electricity adoption took 180 years from its discovery to majority implementation.
- Audio reproduction took 76 years from the invention of the gramophone to the cassette tape.
- Digital audio adoption took just 19 years from the introduction of the CD to the iPod.
- Ubiquitous consumption of personal and social interactions occurred in just five years from the start of Facebook and other social networks to mass adoption.
Some of the biggest trends happening are fueled by this health crisis. Many of these changes will become the norm and understanding what is happening will help companies like yours stay alive and plan for the recovery. Per the McKinsey & Company report “Meet the Next-Normal Consumer,” adoption is immense and happening at lightning speed:
- Online entertainment subscribers: five months (Disney+) versus seven years (Netflix).
- E-commerce deliveries: eight weeks versus 10 years.
- Remote learning: Two weeks for 250 million students.
- Telemedicine: 15 days for a ten times increase in virtual appointments.
As you work on goals for the future, consider these trends and figure out how to leverage your company’s assets, shift offerings to be relevant and solve your customers’ challenges.
Speaking of shifts, it’s time for a change in my life and at SDM. Four years ago, I was asked to create this monthly article to give insights on the emerging smart home industry. The market has matured and smart technologies are everywhere. It’s time for new insights on integration and SDM will have a new column on just that.
Don’t worry, I’m not going away. I will shift to help with feature articles on smart technologies. This change is good for me as I pursue more free time and focus on training the much-needed workforce in the industry. Per the CTA Workforce Council, 75 percent of companies say it is difficult to find candidates with the right skills, and 80 percent agree they will need more employees with technical skills in the next five years.
Know that I am only an email or phone call away if you are looking for insights on smart technologies, career growth or your business. Carpe diem!