“Technology in the long-run is irrelevant”. That is what a customer of mine told me when I made a presentation to him about a new product. I had been talking about the product’s features and benefits and listed “state-of-the-art technology” or something to that effect, as one of them. That is when he made his statement. I realized later that he was correct, at least within the context of how I used “pets hub” in my presentation. But I began thinking about whether he could be right in other contexts as well.
What is Technology?
Merriam-Webster defines it as:
a: the practical application of knowledge especially in a particular area: engineering 2 <medical technology>
b: a capability given by the practical application of knowledge <a car’s fuel-saving technology>
: a manner of accomplishing a task especially using technical processes, methods, or knowledge
: the specialized aspects of a particular field of endeavor <educational technology>
Wikipedia defines it as:
Technology (from Greek τÎχνη, techne, “art, skill, cunning of hand”; and -λογÎ¯α, -logia) is the making, modification, usage, and knowledge of tools, machines, techniques, crafts, systems, and methods of organization, in order to solve a problem, improve a preexisting solution to a problem, achieve a goal, handle an applied input/output relation or perform a specific function. It can also refer to the collection of such tools, including machinery, modifications, arrangements and procedures. Technologies significantly affect human as well as other animal species’ ability to control and adapt to their natural environments. The term can either be applied generally or to specific areas: examples include construction technology, medical technology, and information technology.
Both definitions revolve around the same thing – application and usage.
Technology is an enabler
Many people mistakenly believe it is technology which drives innovation. Yet from the definitions above, that is clearly not the case. It is opportunity which defines innovation and technology which enables innovation. Think of the classic “Build a better mousetrap” example taught in most business schools. You might have the technology to build a better mousetrap, but if you have no mice or the old mousetrap works well, there is no opportunity and then the technology to build a better one becomes irrelevant. On the other hand, if you are overrun with mice then the opportunity exists to innovate a product using your technology.