A FEW SMART QUESTIONS
Two months ago, I spoke to an American investor who was interested in making some potential investments within the software sector. He wasn’t from the software industry himself but I was happy to answer a few of his questions.
Initially, he apologised for what he said would probably be perceived by me as naïve questions. But, in fact, he asked some great questions and it made me think about how when somebody asks a great question, when you answer it, it can help us clarify our own thinking.
Perhaps that is why to understand a subject; learning experts say learn, then first teach it to another, to cement that knowledge in place.
His first question was about why there was so much investment happening within the software technology sector. And then he went on to ask me a few general questions about software tech trends and the changes I had seen.
Here is a rough summary of what I told him:
I’ve been in the software sector for close to 30 years but right now is the most exciting period I’ve experienced. Firstly, the pace of change I am seeing is incredible, which means there’s a lot to learn, which I enjoy. And the rate of change we are seeing in the software sector is not exclusive to software but it is all driven by tech. All industries are experiencing the same or will see this mega-pace change faster than we’ve ever seen before. My explanation for what we’re seeing in the software sector is multi-tiered and has many technology drivers combining for a perfect storm approach:
The first technology driver is something not talked about as much, but I consider to be critical;
1) Human-Computer Interface
Human-Computer Interfaces. Human-computer interfaces improve the way we interact with computers. That includes an improved user interface, wearable devices, IoT and technology that helps to improve physical and mental performance by augmenting skills and abilities can help us lead more productive and enjoyable work and private lives. This may include such tech as Virtual Reality (VR) and Augmented Technology (AR) but even bio-tech devices that help us do away with passwords and improve security.
2) Increased Computer Automation (AI, RPA & ML)
Who hasn’t read about the impact that Artificial Intelligence (AI), Robotic Process Automation (RPA) or Machine Learning (ML) will have on our lives. I have to confess that until relatively recently, when the subject was mentioned (and it often was), I would typically mutter something about hype, buzzwords and marketing BS.
However, in the past two years, I have had many, and multiple discussions with some genuinely talented and skilled software developers in the RPA, AI and ML sectors and have seen awe-inspiring demonstrations. And I’m now a recently converted disciple! For my penance and lack of faith, I now promise not to groan too loudly each time I read on social media about some overly hyped-up futuristic tech.
3) Software Application Connectivity
The fusion of software and technologies, and the ability to connect software applications faster and easier with stateless and headless API’s ‘hooks’ are making software solutions more efficient and extending business processes capability.
Part Two: About Computer Automation Improvements…
I will continue these observations and trends in Part Two. I don’t want to create too long a letter in this issue.
Computer Automation Improvements……..
If you are currently developing software and are looking to improve what you do in any of the above areas and would be interested in accelerating this area of your development, please feel free to reach out to me by returning to your Boss Insights newsletter and clicking on the orange CTA button or by using 'Contact Us' on our website header. I would be happy to discuss and make some introductions where appropriate.
For now, I am off to chill doing some photography
All the best,
Mark Edwards
