Six decades into the computer revolution, technology companies are still in their infancy when it comes to delivering tangible benefits at a global scale. Despite significant advancements, the tech industry often falls short in building and delivering products that bring about meaningful change. This is largely due to a lack of understanding about the nature of technology and its potential to create value beyond monetary gains.
Tech companies need to shift their focus from simply creating profitable products to building solutions that address pressing societal needs. They must realise that technology is not just about coding or engineering, but about problem-solving on a large scale. This requires a new approach to innovation, one that prioritises societal impact over short-term profits.
The tech industry’s future success depends on its ability to build and not just innovate. This involves creating products that are useful, affordable, and accessible to all, thereby democratising the benefits of technology. Companies that succeed in this endeavour will not only achieve financial success but also contribute to societal progress in a meaningful way.
In order to achieve this, tech companies must adopt a ‘builder mentality’. This involves a deep understanding of societal needs, a commitment to addressing these needs through technology, and a willingness to take risks and learn from failures. Only by adopting this mentality can the tech industry truly fulfil its potential and make a lasting impact on society.
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