A “Kodak Moment” was once a memory, captured forever on celluloid film. The ability to revisit that memory through a photograph was the underlying value proposition for the Eastman Kodak company. Now the company is all but a memory because there was a moment when the business failed to recognise the effect of disruptive technology.
Though the use of film had been declining since the introduction of digital cameras, it was probably the launch of the iPhone in 2007 that was the end of the camera as we know it. Kodak filed for bankruptcy in 2012.
So now, a Kodak Moment is not just a photograph; it is a critical juncture for a business where they must take action to stay relevant and competitive.
It seems that we are in a Kodak Moment. Leaders of companies and decision makers need to take a close look at disruptive technologies like generative AI – most recently popularised by Open AIs Chat GPT and fully understand what it means for them. Is it an opportunity or a threat? What does it mean for your market, your suppliers, your customers and your talent?
Of course there are technologies that have the potential to be disruptive developed all the time. Some like the somewhat amorphous Web3 reached the top of the hype cycle less than 6 months ago and are now gone, or at least have faded into the background of the new shiny toy.
Perhaps generative AI and the ChatGPT / GPT4 style platforms are fleeting. But ChatGPT reminded be of Amara’s Law (When I prompted it to do so). Roy Amara, a Stanford computer scientist and futurist said: “We tend to overestimate the effect of a technology in the short run and underestimate the effect in the long run.” While the impact of disruptive technology may not be immediately apparent, over time it can fundamentally transform industries and society as a whole.
Are you willing to take the risk that AI and other disruptive technologies are the latest hyped craze and will not turn out to be the catalyst for a disruption event the size of the iPhone? Or do you need to take the time to understand the impact on your business and make a plan?00
Businesses that fail to adapt to the changing technological landscape risk becoming irrelevant and obsolete. Being proactive and embracing a culture of innovation is the only way that businesses can stay ahead of the curve and thrive in the digital age.
Talk to me about my new workshop – Your Kodak Moment: Futureproofing Your Business Against Disruptive Technology. (Download Brochure – PDF)
I’ve also designed a version of the workshop specifically for the Marine and boating sectors.
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