Can Innovation Be Just Too Darn Fast?

  • admin
  • By admin
  • in
  • on October 11, 2018

Article previously posted on Psychology Today. 

Today’s world is defined by change. Advances in technology, consumer empowerment, and instant gratification are just some of the moving parts of life that are pushing us to a new reality. But a 2017 survey in Fortune suggests that part of the roller coaster ride of innovation—the speed of technological change—is the highest rated concern. The other top concerns included cybersecurity, regulations and sourcing talent. Change, at the speed of life, is the rallying cry of business. But there might be a bit more to the story.

Think about that for a moment—a rapid moment. Of all the concerns that deluge top CEOs, the speed of technology change is on the top of the list. Now, take a breath and think about that for a moment. One of the most common commands barked by senior management—”I WANT IT NOW”—may actually reflect one of their biggest fears!

These days, we all hear terms like “pivot” and “fail fast” as part of the business lexicon. However, this survey seems to indicate that “fast might” just might yield a greater level of concern in the context of growth and innovation. That old linear rate of growth provides an expected and comfortable path to success. But today, exponential change shifts the line to an uncomfortable “slope of concern” that strikes both amazement and fear in the boardroom.

The fear of change even has a name: metathesiophobia. The origin of the word “meta”  is change and phobos means fear. But I think that we need to expand the term and create some new. I suggest hypermetathesiophobia: the fear of rapid change.

Today, innovation requires a shift from the status quo—a push or disruption from the comfort of predictability. That’s tolerable to most. But the roller coaster of innovation offers up a velocity that might result in a “knee-jerk” stomp on the breaks. And that’s not innovation, it’s just fear.

The rate of innovation over can be expressed as dINNOVATION/dt, (dI/dt) or the first derivative of innovation. The instantaneous change (or slope) at any given point on the innovation curve can help define “white knuckle” changes that might disrupt the process itself.

Rapid change (a high dI/dt) is what many in businesses seek. But the reality is that the rate of change must be a function of both person and process. Driving innovation, but pushing people out of their comfort zone (from entry level to CEO) can result in the disruption of a goal intended to be a disruption itself. And pushing methodological systems faster than established functionality and validation can result in a similar catastrophe.

The simple reality is that change is complex. Some are uncontrolled and driven by unseen and unplanned market forces. Yet others are well within our control. The instillation of innovation must be modulated to address existing “fear” factors and let all the stakeholders enjoy the inevitable ride.

ABOUT DIGITAL HEALTHCARE TRANSFORMATION

Event Banner CDOH4 - 300x300 (1)

The Millennium Alliance is pleased to announce that application for our Digital Healthcare Transformation Assembly is now open! Seats are reserved for the C-Level executives leading the digital healthcare revolution.

Healthcare is changing. The need for customer-centric transformation is more vital than ever, to be open and transparent to patients as they navigate new policies. Healthcare systems and insurance carriers are being forced to respond to new demand rapidly.

Download the sponsorship prospectus for more information>> 

Leave a Reply

admin

PUBLISHED BY admin

Jenny Schecher is a Client Services Director & Social Media Manager at The Millennium Alliance. Jenny is an avid contributor to our blog, Digital Diary, as well as all social media platforms. When she is not writing about digital transformation and technology, she is working with her team to make visions come to life at our events. (and eating all of NYC's best food.) Follow her on Instagram: @jennyschecs or find her on LinkedIn!

View all posts by admin

Related Posts

Digital , Technology

Digital Enterprise Q/A with Upcoming Keynote, Bill Murphy!

Digital Enterprise & Data are playing a larger role in business today than ever before, which is why we’re bringing together technology leaders for 2-days of problem-solving, brainstorming & exclusive access to industry research. On September 30th, our Digital Enterprise & Data Virtual Assembly kicks off with seasoned technology leader Bill Murphy, former Chief Technology […]

Gene McCarthy to Keynote Our Transformational Retail & CMO Assembly!

We are honored to announce Gene McCarthy, Former President & CEO of ASICS, as the featured keynote speaker for our upcoming Transformational Retail & CMO Virtual Assembly. McCarthy has an astonishing track record of digitally transforming brands in the athletic & outdoor space, and he’s held executive-level positions with many of the top players in […]

DarkTrace Cyber AI Analyst: Augmenting Your Security Team with AI-Driven Investigations

The myriad of security tools used by businesses today creates massive quantities of data and surfaces too many alerts for analysts to effectively manage. As threats become increasingly sophisticated and the cyber security industry continues to face a skills shortage, over-worked and under-resourced teams urgently need augmentation. Cyber AI Analyst, the product of a research initiative […]

News

The Pivot Project: Crowdsourcing Solutions to COVID-19 Problems 

The overwhelming implications of COVID-19 have defined a generation, but despite the hardships Americans are facing today, it’s shown us that social media is a momentous tool for building awareness & delivering aid to those in need. The Pivot Project, co-founded by our Advisory Board member, Cynthia Johnson, is set to do just that: utilize […]

Lovin’ Digital Diary?

Premium content to our readers interested in all things business.

Check Us Out!

Millennium Membership offers Fortune 1000 C-Level executives, leading public sector/government officials, and thought leaders across a variety of disciplines unique and exclusive opportunities to meet their peers, understand industry developments, and receive introductions to new technology and service advancements to help grow their career and overall company value.

About Millenium Alliance Next

About Digital Diary

Created to provide premium content to our readers interested in all things business.

Launched in 2017, Digital Diary was created to provide premium content to our readers interested in all things business. With our blogs catered to deliver the top news stories, trends, and interviews from across all industries.

Read all story Next

Interested in Millennium Membership?
Find out if you qualify here.

arrow