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L05 Innovation

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When innovators try to envision how people will use their product they often have different ideas on what people want. Products that are of superior technology may fail and inferior succeed, only because the inferior product has some features that people are looking for.

In this lecture we look at how new products or technologies get adopted my markets. We look at the Law of Diffusion of Innovation, which explains how this adoption happens. We also look at what it takes for a new innovation to move from being a visionary idea to a practical product, or crossing the chasm. Finally we explore the hype cycle.

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

Published in: Technology
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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. Adjacent Possible The inventor must use the components that exist in his environment Steven  Johnson
  4. 4. Combinatory Process New technology is created 
 by combining other existing technology in new ways
  5. 5. Gall’s Law All complex systems that work, evolved from 
 simpler system that worked
  6. 6. The Law of Disappearing Technology When some technique is mastered, it will “disappear” as something obvious and trivial, and other more useful things that are built on top of it
  7. 7. The Resistance Corollary Even outdated things that should “disappear” don’t due to supposed importance
  8. 8. Complexity of Technology Local and linear Global and Exponential
  9. 9. Population Population explotion 7 billion people
  10. 10. Prosperity GDP per person
  11. 11. Matt Ridley: When ideas have sex
  12. 12. Slide from Matt Ridley’s 2010 TED talk
  13. 13. How does innovation happen?
  14. 14. Who invented… Telephone Phonograph Combustion engine Photographic film Alexander G. Bell Thomas Edison Karl Benz George Eastman AC Motor Nikola Tesla Safety razor King Camp Gillette
  15. 15. The Brilliant Scientist working in his lab
  16. 16. http://en.wikipedia.org/wiki/Nikola_Tesla Nikola Tesla
  17. 17. Menlo Park   1876-1881 Tomas Edison
  18. 18. Innovation Change in Technology
  19. 19. Something newly introduced, 
 such as a new method or device Innovation
  20. 20. Innovation
  21. 21. Innovation DisruptiveSustaining         Evolutionary         Revolutionary  
  22. 22. Innovation Sustaining Technology – Evolutionary An innovation that improves a product in an existing market in ways that customers are expecting Red Oceans - commodities
  23. 23. 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
  24. 24. Ford  Model  T 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
  25. 25. How does innovation  really  happen?
  26. 26. "We take the ideas we've inherited or stumbled across, and we 
 jigger them together into 
 some new shape." 
 – Steven Johnson
  27. 27. Exchange “It is through exchange that mankind has enjoyed huge rise in living standards” Matt Ridley
  28. 28. The Coffee House
  29. 29. The Medici Effect
  30. 30. Environment of the space
 Where people meet Where ideas have sex
  31. 31. The Liquid network A good idea is a network. Innovations happens with collaboration Steven  Johnson
  32. 32. The Liquid network Innovations happen when ideas are shared Steven  Johnson
  33. 33. The importance of cities
  34. 34. The Hummingbird Effect
  35. 35. Unexpected consequence of 
 new innovations The Hummingbird Effect
  36. 36. The Hummingbird Effect Smartphones DIY Drones iPad Printed press DIY Drones Filming effects, harvesting Games for 2-5 years olds Spectacles
  37. 37. Sir Isaac Newton
  38. 38. The Slow Hunch A lot of ideas linger on, 
 sometimes for decades, 
 in the back of people’s 
 minds Steven  Johnson
  39. 39. Source:  http://www.britannica.com/EBchecked/topic/187881/Douglas-­‐Engelbart Douglas Englebart 1965 Apple Macintosh 1984
  40. 40. 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   The 10/10 Rule
  41. 41. The 10/10 Rule 10 years to build a new
 platform, 10 years for it
 to be adopted Steven  Johnson
  42. 42. What do the following products have in common?
  43. 43. LSD Post-it notes Viagra Teflon Penicillin
  44. 44. Serendipity The accident of finding 
 something useful or good 
 without looking for it Steven  Johnson
  45. 45. "In the fields of observation chance favours only the prepared mind” - Louis Pasteur
  46. 46. Impact of innovation
  47. 47. Gross domestic product
  48. 48. The Forth Quadrant
  49. 49. 1MARKET/INDIVIDUAL 2MARKET/NETWORK 4 NON-MARKET/NETWORK 3 NON-MARKET/INDIVIDUAL
  50. 50. Liquid network The Slow Hunch 10/10 Rule Serendipity
  51. 51. NEXT Diffusion of Innovation

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