My resolution for 2020 was to spend more time with my family. I think my COVID-19 preferences of staying at home eventually came in favor to my plans. After spending a couple of months at home, I realized I was spending way too much time watching movie streaming services, mostly watching science fiction movies with my nephews.
I convinced them to watch a couple of movies that are 30-50 years old. You can tell the amount of competition given all those millennial Computer-Generated Imagery (CGI) movies, right? I felt a bit nostalgic as I watched, yet also surprised by the amount of futuristic technologies they had on display in those movies. I recall having a couple of pauses for a minute or two as I watched scenes with actors interacting with touch screens and video conferencing tablets that were not even invented back in the time. It made me question how we treat new technology inventions nowadays.
The pace of commoditizing a technology had significantly increased
It hit me like a bolt of lightning. I was curious about some of the technology we consider commonplace today . I looked It up and the first video telephony prototype came out in1927. It took us around a 100 years later to build, commercialize, and commoditize it. And now, when new technologies come out in market, such as augmented or mixed reality, they are commercializing across different industries at a much faster rate, like 15-20 years. This brought to my attention one clear conclusion. What took us 100 years before to achieve, now easily takes a decade or two, if not less. And that gap will keep on getting smaller as our pace of consuming and commoditizing new inventions increases.
The real dilemma is build vs buy vs integrate
Earlier this year, we published a whitepaper around the dilemma of build vs buy. I am not ashamed at all to say that the COVID-19 pandemic had changed my perspective and made me see things differently. I strongly believe that customers do have a third preference now, which is to integrate directly with a mature product or service through APIs rather eitherthan building their own or buying thean off-the-shelf product . “API platforms experienced 1.5 times as many API calls as normal during the pandemic” says Paolo Malinverno in Gartner’s Magic Quadrant for Full Lifecycle API Management. Customers had have realized that there is a more agile way to achieve things faster during the pandemic. And this change will snowball further in the future.
It is about gaining more speed and stacking less technology
“Add more features”, “add more capabilities”, “streamline processes”, are all phrases borrowed from sales pitches I hear every day in this industry. In reality, the only thing I believe that matters, is speed. The speed of being able to go-to-market, the speed to scale and serve more customers efficiently, and the speed to fulfill more demand and capture a bigger market share. Given my technical background, it is definitely music to my ears when I hear about a company that is investing in a new multi-million-dollar technology. But if it takes them a year or two to configure and deploy, it is probably time to reconsider their metrics of success.
At CloudBlue, we understand the importance of speed and how it directly impacts growth. Throughout my keynote, I shared stories about some of our customers, and highlighted how they were able to scale and move at a faster pace than competition.