‘Game Changing Technology’

I keep seeing this phase ‘game changing technology’ and the ‘technology that changes everything’. Generally related to quantum something or other, or AI in some way. It got me thinking about technology adoption and what it requires to be successful. 

Technology undergoes frequent shifts, driven by evolving innovation cycles . Organizational processes often require adaptation to realise the maximum benefits and value from emerging solutions. McKinsey (2020) observes that approximately 70% of digital transformations fail due to inadequate process re-engineering, indicating the importance of the connection between technical developments and procedural improvements. Many executives focus on implementing modern platforms and or solution without matching alterations to workflows [1], governance models and cultural practices (Brynjolfsson and McAfee, 2014). That said evidence would suggests  that process optimisation, combined with strategic technology upgrades, accelerates return on investment and fosters sustainable outcomes (Statista, 2022).

Technology frequently undergoes new iterations, influenced by global competition and the match of technology. Numerous experts assert that process modifications unlock significant advantages from fresh tools (Brynjolfsson and McAfee, 2014). A combined approach to technology adoption and process improvements enhances value creation. McKinsey (2020) indicates that organizations prioritising comprehensive process revisions alongside fresh software implementations achieve a 30% higher success rate in initiatives when compared to counterparts focusing predominantly on technical integration. Efforts centred on employee training, leadership alignment and performance metrics strengthen process overhauls that amplify gains from new platforms (Statista, 2022).

Figure 1 provides an illustrative view of how technology investments benefit from parallel process reconfiguration:

Figure 1: Technology investments benefits from parallel process reconfiguration

Table 1 highlights further distinctions:

Table 1: Distinctions Between Technological Shifts and Process Transformations

References

• Brynjolfsson, E. and McAfee, A. (2014) The Second Machine Age: Work, Progress, and Prosperity in a Time of Brilliant Technologies. New York: W.W. Norton & Company.
• McKinsey (2020) Unlocking success in digital transformations. Available at: https://www.mckinsey.com/business-functions/organisation/our-insights/unlocking-success-in-digital-transformations  (Accessed: 19 February 2025).
• Statista (2022) Digital transformation - statistics & facts. Available at: https://www.statista.com/topics/1164/digital-transformation   (Accessed: 19 February 2025).

End Notes:

Evolving Innovation Cycles: Definition and Implications

Evolving innovation cycles refer to the continuous and dynamic progression of innovation within industries and organizations. These cycles reflect how new technologies, processes and business models emerge, mature and either sustain or become obsolete over time. The concept is closely linked to the idea that innovation is not a one-time event but an iterative and adaptive process driven by technological advancements, market demands, regulatory changes and competitive pressures.

Characteristics

Incremental and Disruptive Innovation

• Incremental innovation refers to gradual improvements made to existing technologies or processes, enhancing efficiency, quality or cost-effectiveness.
• Disruptive innovation introduces fundamentally new solutions that reshape markets and industries, often displacing established players.

Acceleration Due to Technological Advancements

• Emerging technologies such as artificial intelligence, quantum computing and biotechnology shorten innovation cycles by rapidly transforming traditional industries.
• Digital transformation enables real-time data analysis, automation and predictive modelling, allowing businesses to innovate faster.

Market-Driven Evolution

• Consumer preferences, sustainability concerns and regulatory requirements influence the pace and direction of innovation.
• Agile businesses leverage feedback loops and customer insights to refine products and services continuously.

Sustainability and Circular Economy Integration

• The transition from linear to circular economic models has reshaped innovation cycles, focusing on long-term environmental and social sustainability.
• Companies now prioritise renewable resources, energy efficiency and waste reduction as part of their innovation strategies.

Globalisation and Competitive Pressures

• Cross-border collaboration and international competition drive the need for continuous reinvention.
• Multinational corporations invest in research and development (R&D) to maintain a competitive edge in evolving markets.

Implications

Shorter Product Lifecycles: Rapid advancements in technology mean that products and services become obsolete more quickly, requiring businesses to innovate at an accelerated pace.

Greater Investment in R&D: Organizations must allocate substantial resources to research, development and pilot projects to stay competitive.

Increased Collaboration: Open innovation models encourage partnerships between businesses, academia and governments to drive collective progress.

Resilience and Adaptability: Companies with flexible business models and agile methodologies can navigate uncertainty and capitalise on emerging trends more effectively.

Evolving innovation cycles define the modern business landscape, imposing the need for a proactive approach to technological adoption, market adaptation and sustainability integration. Organizations that embrace continuous innovation and adaptability may achieve long-term success in an increasingly volatile and competitive environment.

[1] This many be driven in part by managers need to be seen as having implemented the latest X Y or Z as part of building their personal brand, career. It’s a well-trodden path littered with unsuccess implementations and redundant tooling. The individual concerned will, of course, have moved on, with their CV enhanced with their successful implementation. 

Evidence 

Empirical evidence underscores the significant impact of process optimisation and strategic technology upgrades on accelerating return on investment (ROI) and fostering sustainable outcomes. A comprehensive analysis of 250 case studies across diverse industries revealed that organizations implementing process improvement initiatives experienced notable enhancements in operational efficiency and financial performance. These improvements were achieved through the adoption of advanced technologies and the refinement of existing processes, leading to both immediate and long-term benefits.  https://mark-bridges.medium.com/250-case-studies-exploring-process-improvement-initiatives-across-different-organizations-and-indus-ba4630be677b

In the manufacturing sector, the integration of Artificial Intelligence (AI) has been particularly transformative. Real-world applications of AI have enabled manufacturers to reduce waste, improve product quality and drive operational excellence. These advancements not only contribute to a substantial ROI but also align with sustainable business practices by minimising resource consumption and environmental impact. https://research.gatech.edu/operational-ai-manufacturing-real-case-studies-real-results

The construction industry has also benefited from business process improvements aimed at sustainable technology investments. Research indicates that specific configurational approaches are associated with superior success, providing construction firms with viable pathways to evaluate and implement sustainable technologies effectively. This strategic alignment enhances ROI while promoting environmental stewardship. https://www.researchgate.net/publication/360464497_Business_Process_Improvement_for_Sustainable_Technologies_Investments_in_Construction_A_Configurational_Approach 

The integration of Robotic Process Automation (RPA) and Big Data within a sustainable framework has demonstrated significant reductions in execution times and operational errors. A study focusing on Industry 4.0 contexts highlighted that combining these technologies not only enhances efficiency but also contributes to lower economic, environmental and social impacts, thereby fostering sustainable business practices. https://www.mdpi.com/2227-9717/13/2/536 

In the energy sector, strategic investments in renewable energy technologies have yielded both financial and environmental benefits. For instance, a collaboration with the OCP Group, a leading phosphate producer, involved the implementation of an optimisation model for installing solar panels and batteries. This initiative led to a more than 70% reduction in carbon emissions and generated a net present value of 5 billion MAD over twenty years, exemplifying how technological upgrades can drive ROI and sustainability concurrently. https://arxiv.org/abs/2209.06341

Collectively, these findings substantiate the assertion that process optimisation, when combined with strategic technology upgrades, serves as a catalyst for accelerated ROI and the attainment of sustainable outcomes across various industries.

Disclaimer:

Please note that parts of this post were assisted by an Artificial Intelligence (AI) tool. The AI has been used to generate certain content and provide information synthesis. While every effort has been made to ensure accuracy, the AI's contributions are based on its training data and algorithms and should be considered as supplementary information.