The future is quickly approaching! In a world where not even a few decades ago we had computers the size of a room; technology, manufacturing and just the way we accomplish everyday tasks, are constantly evolving.
Let’s rewind to 1998. Kodak, one of the largest companies on the New York Stock Exchange had 170,000 employees and sold 85% of all photo paper worldwide. Within a few short years, its business model dissolved, and it then soon went bankrupt. Nobody saw it coming until it was too late.
The scary thing is, that this may even be happening to companies today and they don’t realize it. Who knows where well-known companies today, will be in the next 5-10 years? What happened to Kodak is bound to happen again, but at a much faster pace. In a world where artificial intelligence, health, autonomous/electric cars, 3D printing, and agriculture are constantly evolving we are going to begin to see more and more companies fall by the wayside. America is now entering its fourth industrial revolution.
Products are also experiencing this same situation. As new technological innovations hit industries, products are constantly evolving to better suit our wants and needs. It is imperative that we keep up with these evolving industries by helping evolve products as well.
Do you have an idea for a product that offers a better way of doing something? If so, submit your idea today!
Copyright Davison, 2017