The pace of technological improvement is running at an exponentially increasing rate.
While this has been true for several decades, the pace today makes capital investment in technology as much an asset as a handicap because a competitor may wait for the next-generation technology, which may only be a year away, and then use it to achieve an advantage. Of course waiting to be that competitor can be equally risky.
What’s a CEO to do?
Similarly, the ability for even the best of technologists to stay informed about emerging technology is in conflict with the need to master a company’s current technology.
The problem to be solved is to develop a long-term technology strategy while remaining flexible enough to take advantage of unforeseen technology developments.
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