Transformational capabilities of Multiplicative combination of Business and Technology :

There is an increasing demand for business-technology alignment or integrating technology with business. However, the multiplicative combination of business and technology is one of the major driving forces that transform the operational capabilities of an organization. Multiplicative combination of business and technology is obtained when we multiply number of technologies by number of business strategies. We are living in a world, in which, technology is accelerating at a dizzying pace. The future of business-technology landscape will have a transformational impact in the marketplace, in which, employees with mundane jobs will be replaced with those that require adaptive skills. Employees with adaptive skills make an organization adaptive too. This adaptation ensures that organizations are produced on a grand scale by creating a complex technological structure to survive in a competitive market.

Amid the transformational capabilities of time ,there is an ongoing debate whether machines will take everyone’s jobs and benefit only the niche segment of society. Technologies like A.I ( Artificial Intelligence) may enable machines to perform tasks that could previously be done only by humans. Hence multiple skills pertaining to business and technology are required for an employee’s job to be secure. Moreover, the skills should also be transformational as far as capabilities are concerned. Therefore, if one is acting under the assumption that better employee’s skills lead to better organizations, then organizations and academic institutions not only need a blend of business and technology but also a multiplicative combination of business and technology. The blend will only provide smooth transition, whereas multiplicative combination will lead to a robust transformation.

Due to the rapid pace of technology, organizations that can withstand multiple paradigm shifts will survive in the marketplace – and the same goes for  employees. For instance, we are already living in a world, in which, technology giants are acquiring A.I startups and competing to attract best researchers for academia. Hence there is a need for academic institutions to not only research on various technologies but also offer courses that require multiplicative combination of business and technology.

There is the vertical gamut of technologies starting from Information technology at the lower end to genetics and A.I & Robotics at the higher end (refer to Fig 1.1). Although the capitalization on technology does not show up any benefits in the initial stages, there will be significant advantages when the technology reaches the maturity stage, provided an organization experiments on technology in nascent stages.  In order to be effective and productive in capitalizing on technology, academic institutions, entrepreneurs and organizations should adopt a feasible collaborative strategy. Magical science happens when everybody’s perspective is taken into consideration.

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