In episode 91 of the Leadership Minute, practitioner analyst and CEO Tony Uphoff discusses a framework for evaluating new and innovative technologies.
This episode is sponsored by “Selling to the New Executive Buying Committee,” an Acceleration Economy Course designed to help vendors, partners, and buyers understand the shifting sands of how mid-market and enterprise CXOs are making purchase decisions to modernize technology.
Highlights
00:16 — Tony recaps Apple’s recent Vision Pro product launch and the device’s positioning as a new platform the company calls spatial computing. That launch sparked spirited discussion among the Acceleration Economy practitioner analyst team. This mirrors the modern technology buying committee; members debated and evaluated the new technology.
00:42 — Based on those discussions, Tony considered frameworks to help business technology buying teams discuss, debate, and evaluate new or emerging technologies such as ChatGPT or Apple’s Vision Pro. Tony offers his 10-point framework for this process:
- Start with a high level of understanding of the technology, how it works, and its limitations.
- Evaluate how the technology is changing or impacting various industries to identify its breadth of application.
- Perform a competitive analysis to determine how competitors or similar businesses are leveraging the technology.
- Identify use cases through a cross-functional team and think about specific ways this technology could be used in your organization.
- Conduct a return-on-investment (ROI) analysis taking into account both tangible and intangible benefits.
- Determine how to implement and build a roadmap to guide next steps, including whether to build or deploy in house or tap partners.
- Conduct risk assessment and mitigation to identify potential risks such as security, ethical considerations, and even resistance from employees or customers.
- Build a proof of concept to validate it in a controlled environment before full-scale implementation.
- Create a plan to scale and integrate with existing systems.
- Perform continuous monitoring and learning post implementation.
03:20 — Final point to keep in mind: the importance of aligning the technology with the business strategy to drive growth and build competitive advantage.
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