Flipping through the pages of the latest issue of BC Business I realize how crucial it is for businesses, all businesses, to keep current on what is happening and what may affect their place in the market.
In 1973 I bought a Facit LCD pocket calculator. It had add, subtract, multiply, and divide, plus a constant key. It was state of the art, weighed about 450 grams, and cost $160. The last one I bought, which has many more features was $5. I took a GPS training course in 1991 at the University of Montana. The unit I had to carry around in the bush needed a backpack and, because the signal was controlled by the US military, we could only narrow the target down to within 450 metres. I now use my phone and it is accurate. How times have changed!
According to the article in BC Business, BC Stats more people are employed in the technology sector in British Columbia than in mining, forestry, oil and gas combined! Even 10 years ago who had heard of designing with holograms, electric commuter cars, digital pathology, aquaponics, artificial intelligence, 3D printing, or passive housing? These are but a few of the new technologies that are being developed by BC companies and will change the way we look at and do things in the future.
If you are in business what will affect your business? Will it make what you do obsolete or at least create competition? Will it allow you to be more competitive? How can you utilize the new technologies to your advantage?
For those who love technology you need to be careful that you do not invest in technology that is more than you need. It all costs money and requires time and training to be effective. You need to always do a cost/benefit analysis to determine the practicality.
We will see more change in the next five years than we saw in the last twenty. Be prepared for the ride. What will it have in store for you?
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