Abstract
The term "Deep Tech" is prevalent in industry but ill-defined. In this extended letter, we define Deep Tech (technology that is difficult to develop today, with the potential to become a pervasive and easy-to-implement basic need in the future) and consider its role in evolving businesses. We suggest how organizations can position themselves to take advantage of a coming wave of innovation, with emphasis placed on Creative Destruction's role (cannibalizing product lines) in creating sustaining enterprises. Understanding the diffusion of technical innovation from hard-to-implement exciter to commodity basic need will encourage leaders to rethink their current offerings to play in a future-thinking space setting these companies apart from the competition. We provide examples drawn from successful organizations.
Highlights
Today’s mundane technology was recently bleeding edge
We present a nuanced definition of Deep Tech, consider how Creative Destruction’s cannibalization of strongperforming products and services supports its adoption by enabling long-term welfare increases, and explore technology’s distillation and diffusion from bleeding-edge to basic-need
We focus on leadership’s role in cultivating an environment supportive of Deep Technologies, Creative Destruction, and capitalizing upon becoming the status-quo
Summary
Today’s mundane technology was recently bleeding edge. Consider air conditioning, an engineering masterpiece once only for elites and today, so pervasive that its absence is noteworthy. Businesses often overlook the beauty in “boring.” Rather than struggling to visibly pioneer, organizations may be better-served by cultivating covert disruption This invisible innovation requires commoditizing complex and recently feasible “Deep Technologies,” technologies that demand significant intellectual and economic capital to pursue, and with the potential to become seamless, scalable and transparent solutions. (Chaturvedi, 2014) At the time, she defined Deep Technology startups as “companies founded on a scientific discovery or true technological innovation.” This definition purposefully allows for interpretation, as future technologies may not be comprehensible or describable with today’s thinking and language. Actuators affect a system’s state, while inference-informed control precisely modulates outputs to create a responsive feedback loop to maximize impact Supporting these capabilities are advances in low-cost, low-power and pervasive sensing, ubiquitous connectivity, and efficient and performant parallelized computing. Businesses may need to disrupt ongoing successes to create more significant long-term and sustaining impact
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