New Technology Lecture L05 Innovation

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Innovation is the change in technology. The question is this: how does innovation happen? Many people have believe that new ideas come from brilliant inventors that have lightbulb moments or an epiphany. Greek scholar Archimedes had a Eureka moment, Newton discovered the theory of gravity when the apple fell on his head, and so on. This idea has been popularized, but the truth is quite different. Most discoveries are based on long evaluation - slow hunches, and collaboration.

In this lecture we look at how innovation happens. We look at the slow hunch, the liquid network, and serendipity.

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New Technology Lecture L05 Innovation

  1. 1. Lecture L05 INNOVATION
  2. 2. “I  have  not  failed.  I've  just  found  10,000  
 ways  that  won't  work.”  
 –  Thomas  Edison
  3. 3. How does innovation happen?
  4. 4. The Brilliant Scientist working in his lab
  5. 5. Tomas Edison Menlo Park   1876-1881
  6. 6. Nikola Tesla http://en.wikipedia.org/wiki/Nikola_Tesla
  7. 7. Innovation Something newly introduced, such as a new method or device
  8. 8. Innovation
  9. 9. Innovation Sustaining         Evolutionary         Revolutionary   Disruptive
  10. 10. Innovation   Sustaining  Technology  –  Evolutionary     !   An  innovation  that  improves  a   product  in  an  existing  market  in  ways   that  customers  are  expecting   !   Red  Oceans   -­‐  commodities    
  11. 11. Innovation   Sustaining  Technology  –  Revolutionary   !  An  innovation  that  creates  a  new  market   by  allowing  customers  to  solve  a  problem   in  a  radically  new  way   !   May  not  be  affordable  enough  to  be   disruptive  
  12. 12. Innovation   Disruptive  Technology     !   An  innovation  that  creates  a  new  (an   unexpected)  market  by  applying  a   different  set  of  values.   !   Affordable  so  the  impact  is  major     Ford  Model  T
  13. 13. How does innovation  r eally  happen?
  14. 14. "We take the ideas we've inherited or stumbled across, and we jigger them together into some new shape." 
 – Steven Johnson
  15. 15. The Coffee House
  16. 16. The Medici Effect
  17. 17. Environment of the space
 Where people meet ! Where ideas have sex
  18. 18. The Liquid network A good idea is a network. Innovations happens with collaboration Steven  Johnson
  19. 19. The Liquid network Innovations happen when ideas are shared Steven  Johnson
  20. 20. The importance of cities
  21. 21. Sir Isaac Newton
  22. 22. The Slow Hunch A lot of ideas linger on, 
 sometimes for decades, 
 in the back of people’s 
 minds Steven  Johnson
  23. 23. Douglas Englebart 1965 Apple Macintosh 1984 Source:  http://www.britannica.com/EBchecked/topic/187881/Douglas-­‐Engelbart
  24. 24. The 10/10 Rule Any technology that is going to have significant impact over the next 10 years is already at least 10 years old Source:  http://www.businessweek.com/innovate/content/jan2008/id2008012_297369.htm  
  25. 25. The 10/10 Rule 10 years to build a new
 platform, 10 years for it
 to be adopted Steven  Johnson
  26. 26. What do the following products  have  in   common?
  27. 27. LSD Post-it notes Viagra Teflon Penicillin
  28. 28. Serendipity The accident of finding 
 something useful or good 
 without looking for it Steven  Johnson
  29. 29. "In the fields of observation chance favours only the prepared mind” - Louis Pasteur
  30. 30. Impact of innovation
  31. 31. Gross domestic product
  32. 32. Matt Ridley: When ideas have sex
  33. 33. Slide from Matt Ridley’s 2010 TED talk
  34. 34. Exchange It is through exchange that mankind has enjoyed huge rise in living standards Matt Ridley
  35. 35. The Forth Quadrat
  36. 36. 1 MARKET/NETWORK NON-MARKET/INDIVIDUAL NON-MARKET/NETWORK 3 4 MARKET/INDIVIDUAL 2
  37. 37. TECHNOLOGY ADOPTION LIFE CYCLE
  38. 38. Technology Adoption Life Cycle TECHNOLOGY CONSUMER  
  39. 39. Technology Adoption Life Cycle In the early days In the later days ! ! The innovators and technology enthusiasts drive the market They demand technology Small percentage of the market The pragmatists and conservatives dominate; they want solutions and convenience The big market
  40. 40. Liquid network The Slow Hunch 10/10 Rule Serendipity
  41. 41. NEXT Diffusion of Innovation

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