The Rate Race
The Rat Race
We are in the midst of a rat race. Companies around the globe are clamoring to be the first to implement the latest and greatest tech, even if that means ignoring the pitfalls that come along with it. The sweet sweet promise of efficiency and cost-effectiveness is just too enticing. If you’re not first, you’re last! Each day another headline announces some organization rolling out some sort of cutting-edge technology that is going to revolutionize the way they do business. Amazon announced a 2.75 billion dollar investment in AI startup Anthropic. Tech leaders like Google and NVIDIA are laser-focused on becoming the leaders in their respective spaces. Bain & Company surveyed more than 500 senior executives. The survey found that investment in engineering and research and development as a percentage of revenue has significantly increased and despite the potential for a recession these executives foresee continued investment.
A Cisco study reiterates the attention given to technology claiming that 97% of business leaders say AI is a growing priority for their organization. It is safe to say that if AI isn’t already in your organization, it will be soon enough.
However, these fast-moving innovations come at a cost. Take for example the lawyers at Levidow & Oberman. When they turned to AI for a bit of help, they quickly learned a lesson in what the tech world calls hallucinations. The lawyers admitted to the judge that they were unaware of the possibility that its contents could be false, but the damage had already been done. Cruise has had nothing but bad luck since the debut of their robotaxis. A collision with a firetruck, jammed signals causing massive traffic jams, and let’s not forget the horrible pedestrian incident where the car ran over a woman. Cruise has since halted all self-driving taxi operations. I could go on and on. Just run a Google search on technology fails and a barrage of examples will flood your screen. And while these are somewhat entertaining for someone sitting outside of an organization, I can only imagine how frustrating it might feel for those sitting inside of an organization, having to deal with the backlash.
We know from history and science that failures have to occur to make any sort of improvement. It comes with the territory of innovation, experimentation, learning, and development. But the relationship that we create with the technology that serves us is being built upon the myriads of failures. I’m not convinced that is the healthiest way to start a relationship, at least not for people like me who expect a product to function appropriately from the moment I make the purchase. If these are the experiences we are building the foundation of our relationships on, I have a feeling it is going to be a rocky road.
Not to sidetrack too much, but I have a story that I think is quite relatable. You see, I love vehicles. Probably ten or so years ago I bought my first BMW. A little 335i. I named it Charlie. I love Charlie. I still own Charlie. But this was my first experience with a German luxury vehicle and I am sure those of you that know will laugh but at about 90,000 miles these vehicles start to do some really strange things. That little noise that comes on when something is wrong haunts me. So, at about 110,000 miles, I decided to add to my collection and ended up with an x5 diesel. His name was Rudolph. I really loved that car too. But again, at about 90,000 miles things go sideways. While I enjoyed driving this car, I was fed up. Every time the car made a sound, every time the car felt weird, every time a light flashed I was on edge. I would think to myself, here we go again. It is like when you laugh and cry at the same time. I even joke with my friends that I keep my 335 as a backup because when you own a BMW you really should just be on a rotation. When one breaks you drive the other while you fix the first and then the other breaks and so on and so forth. My point is, that while I loved the cars, my relationship with them was turbulent. One day I would be smiling ear to ear and the next I would be kicking the tire cursing BMW. Luckily, the car I drive is my choice. Unluckily, the HRIS system I have to work with is not my choice. And the decision my employer makes has a huge impact on my job. The experience I have with that system from day one will define how I view the tech for the rest of my life. We really must make every effort to create positive experiences.
As I’ve already mentioned in other pieces I’ve written, organizations need to find ways to involve their employees in the decision-making process when it comes to technology. I hope one day to see tech labs where companies can experiment with new technology before committing. Companies of all sizes could send their employees to learn about the innovations happening at places like Google. An increase in certificate programs could help people prepare for a world in which innovation comes at a quicker pace. There are certainly things we can do now to help prepare our workforce, building a foundation of positive experiences with new technology instead of the doomsday news we see each and every day. Let’s create those experiences by thinking ahead, creating strategic plans that involve those impacted by change.
Citations:
Albanesius, Chloe. “Oops: The 10 Biggest Tech Fails of 2023.” PCMAG, 22 Dec. 2023, www.pcmag.com/news/oops-the-10-biggest-tech-fails-of-2023.
Fruhlinger, Josh. “8 Big IT Failures of 2023.” CIO, 26 Dec. 2023, www.cio.com/article/1253464/8-big-it-failures-of-2023.html.
https://www.bain.com/our-team/daniel-suter, et al. “The Innovation Race: Winners Are Investing Now.” Bain, 12 Apr. 2023, www.bain.com/insights/the-innovation-race-engineering-r-and-d-report-2023/.
magazine, J. P. Pressley J. P. Pressley is a contributing writer to BizTech, and an editor at Manifest. “Running the AI Race: What Retailers Should Know.” Technology Solutions That Drive Business, 8 Mar. 2024, biztechmagazine.com/article/2024/03/running-ai-race-what-retailers-should-know. Accessed 14 June 2024.