PREFACE

As a human, one might notice that the past 50 years, and especially the past 10, have been a veritable Cambrian explosion of technologies. The Consumer Electronics Show for instance debuted with 100 exhibiting companies in 1967 and now boasts over 3,600 (Federov, 2016). A look at the average company lifespan of a businesses in the S&P 500 provides another telling illustration. According to Innosight, an innovation consultancy, the average lifespan of a company in the S&P 500 was 61-years in 1958 and today it is just 18-years (Innosight, 2013).

One can refine the picture of this rate of change further by also looking at data from the US Patent Office. In the year 1900, 24,656 utility patents were granted. That number has risen to 300,678 in 2014 (USPO, 2014). And finally, the speed at which new technologies are being adopted is increasing at an exhausting rate. It took electricity 46 years before it was adopted by 25% of the American population. It took the the television 26, the internet took just 7 years (singularity.com). It is without a doubt the most tumultuous time for business in recent history. Many of the most historic businesses have become extinct or are being threatened in ways they failed to ever imagine. Those that have successfully navigated the constant onslaught of “disruption” have been both incredibly lucky and exceedingly clever, though it is hard to say of which is more. And those that do reach a level of success rarely bask in the glory for too long. The stakes have never been higher and the need never more palpable for businesses to understand what the latest emerging technology means for their business and what it could mean for their customers. Should shipping companies be concerned about the rise of artificial intelligence? Is there a place for virtual reality in the hospital? Can other emerging technologies create better experiences for the the customers of these businesses? How would they know? These are important questions in the 21st century, and they are questions that need to be asked continuously.