Accelerating technology changes driven by competition and consumer needs

                                 As we know necessity is the mother of inventions. For a product or a service company, the necessity to create better products or provide better services , arises from the need to be better than their competitors.
                                After the invention of computers, automation of manual labor using technologies has been exponentially growing due to profitable outcomes. Now Technology is integrated in every industry to a point where without technology nothing would exist.
                                Since technology is a part of every industry , the necessity to improve technology comes from every industry , hence it grows along with every industry. Based on the industry, the level of technical improvements needed may vary. For example lets take mining industry , the mining devices are operated by technology. If mining company A mines faster than mining company B , their profits increase , if company A also has a way to reduce the amount of resources spent in mining , their profits increase furthermore, allowing them to dominate the mining industry. These changes can be brought by changing the hardware and software of the mining instruments. Software changes would include, lowering the latency when starting the machine , increasing safety by stopping the instruments automatically when a hard rock is found , thus preventing damage to the machine. To achieve all these several technology changes are need. To stop instruments automatically when a hard rock is found , the machine needs to detect hard rock by itself. This could be done by having Image processing and machine learning. To reduce latency better software methodologies are invented and used. This is the case in every industry , to over shine their competitions , better technologies are needed. These needs causes the technology to grow in a pace never seen before.
                                Another factory driving the technology changes would be the growing consumer needs. The level of consumer feedback has been increased highly from the past due to improvement in communication. Now a days there are several ways to obtain customer feedback's quickly and accurately , some of which include obtaining quick surveys using the internet , using phone to get feedback etc.. These are collected and sent directly to organizations , for them to improve their practices and products. As we seen earlier , since all industries are using technologies , the customers demand causes the organizations to invent better products , which in turn caused technology to grow along with it.
                                From the article "The Four Global Forces Breaking All the Trends" we can see that accelerating technology changes is one of the four global forces. And from the article "The Five Competitive Forces That Shape Strategy" we can see how competition shapes and supports growth of an organization. The increase in competition can be attributed to the current population level. However since there is a decline in fertility rate , we can expect a lesser or a comparatively stagnant competition level in the future. As we discussed since the competition level directly impacts the pace of new innovation made in technology , it may also decline in the future.