23 January 2024
How to respond to the tech hypes as a company
Every brand aspires to be one step ahead of its competitors and every business leader wants their finger on the pulse. But in the rush to be at the forefront of the digital game, many brands fall victim to tech hype. Naturally, you want to adopt the highest-performing technology for your digital products and use the top tools and platforms to optimise your portfolio. However, with so many self-proclaimed ‘disruptors’ in the market and a seemingly never-ending chain of ML and generative AI-related innovations breaking the news each week, it’s important to identify which are relevant to your business - and which aren’t. Read on to discover some high-level tips on how to respond to tech hypes as a company.
Identify the problem that needs solving
All successful projects start with the right approach, which in the case of digital products is usually identifying the problem that needs solving or the challenge that needs tackling. In the case of responding to tech hypes, don’t focus on which technology you should adopt. It is far better to zero in on what problems you are trying to solve and whose lives you are trying to improve. This way you can get to grips with what is causing the problems in the first place and how you will get the best outcomes; whether that’s improving ROI, providing a great user experience, ensuring the scalability of your business, or any other business goal, or combination of.
When you ensure that the technology you invest in will solve real-world problems and meet your user’s needs, you stand a far greater chance of making the right long-term investments, getting the most ROI and ensuring your business and digital portfolio remain relevant. This forethought forms a key element in the Minimum Scalable Product (MSP) approach. Take a look at the Minimum Scalable Product way of working, or give our team a call and find out just how excited we are about this cost and time-saving approach.
Decide which tech will solve the problems
This is the point where your work separating hype from innovation pays off. Take some time to review what you actually know about this new technology and its capabilities. Talk to the providers if possible. Read reviews, testimonials and case studies, particularly from people in your sector. Better still, speak to a digital product strategy expert who can point you in the right direction and ensure you get the most out of your technical budget and that it fits in with your business strategy. Find out more about our product strategy expertise.
Check it will integrate with your stack
If you want your business to be scalable, and therefore successful and sustainable long into the future, your digital infrastructure needs to be modular and adaptable so it can support technologies with different implementation, usage and management needs. This agile way of working means that you can respond swiftly, adopting new and relevant innovations ahead of your competitors.
It also means your tech stack and investment gives you the best ROI over time and that all your tools, apps and platforms work well together. Find out more about best practices for building scalable apps.
Make sure it fits with your long-term tech investment strategy
Restricting yourself to a specific vendor or type of technology is a risky strategy. It can stifle innovation and creativity as your team has to work within the limitations of that supplier. As you know, technology progresses quickly, so tethering yourself to a vendor also restricts your ability to remain relevant and competitive and solve your user’s problems.
You also need to consider how easy it is to implement and manage the technology. There’s no point giving into FOMO and rushing into an investment that you can’t integrate into your system effectively and efficiently, or you don’t have the skills or time in-house to take care of it in the long term.
Need some tips on preparing for a digital future? Take a look at our whitepaper on lean digital transformation strategies.
Understand the risks
Emerging technology like generative AI offers many tantalising benefits - and in the case of ChatGPT actually lives up to its hype. But it has its risks. These risks are contextual, to say the least, so we won’t go into them in this article. However, if you are unsure about a new tool, speak to an expert before you invest. Our team are proud proponents of all things digital and are always happy to debunk fads and talk tech. Which segways us nicely onto our next point…
Get a second (expert) opinion
Working with a specialist digital product design company like Miyagami ensures your business gets the full benefit of the latest, relevant technologies; protecting you from bad investments and time-wasting that results from succumbing to the latest tech hype.
We’ll help you identify what is genuine technical innovation and what is just digital noise or ‘tech bros’ posturing. We’ll help you get a clear picture of your overarching strategy, what your customers really want and need from you, and how best to serve them. We’ll ensure you make the best investments now and into the future, building a portfolio of scalable products that deliver the optimum product market fit.
Get in touch today to find out how we can help your business.
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