The end of tech glory days

Buyers define markets

Even so, I’ve said it before and will repeat: Ultimately, buyers define markets and market needs, not technology vendors. Case in point: OpenAI has raised and is quickly spending its way through $11.3B and will likely be on the hunt for more money soon. Combine the spending of OpenAI, Microsoft, Google, Amazon, etc., and the cost of developing GenAI is eye-watering. Yet, it’s only now that they are trying to determine its use case and value. Beyond the marketing and press coverage, systems integrators and companies we talk to are, at best, intrigued, but none are jumping up and down with excitement. It’s cool tech, but what’s it actually for, they ask? And just as importantly, even if they can find a use case, will it be worth the money? Trust me, the jury is out on that.

The tech industry’s glory days may be fading a little, but this is not a time for despair. It’s an opportunity for renewal. By shifting to a needs-driven approach, the industry can ensure its relevance in a rapidly changing landscape. This may not restore its former glory, but it will pave the way for a more sustainable and practical future, potentially even making a positive difference in the world. Ultimately, the tech sector’s future is not determined by its past achievements, but by its ability to adapt to a changing world. Only by recognizing and addressing real needs can the sector regain its status as a powerhouse. The road ahead may be uncertain, but it is filled with potential for those brave enough to embrace it.