Don't Reinvent The Wheel - The AI Company - 0 views
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pintadachica on 18 Jan 19One of the top reasons for digital innovation and transformation failures can be summarized as the enterprise trying to reinvent the wheel. This is the tendency of the enterprise to attempt to create technology, platforms, and applications that have already been implemented, scaled, optimized and almost perfected. This tendency almost always ends up a failed one as it does not create any net new value for the enterprise but comes with a massive opportunity cost as the enterprise spends crucial resources on reinventing the wheel than innovating for the customer. How The Wheel Is Reinvented Nontechnology enterprises can get trapped in a reinvent state where they conclude that homegrown technology is the only path towards customer and business value. This in itself is not entirely false however the type of enterprise and their decision-making process along with the capabilities they have in house have a very large impact on the success of the strategy.eRaaadada Reinventing the wheel happens when a non-tech enterprise discovers a technology trend towards much later in the hype cycle almost towards the end when the technology is hitting the mass market and decides to recreate or reinvent its own version of the technology. This is often done with the assumption that with some investment, the enterprise can have a home grown version of technology or platform that is designed specifically for its needs and is thus a better fit. However, enterprises assume that the state of the technology will remain constant and while they are attempting to home grow a version that can match the current state of the art. In reality, the state of the art shifts and the enterprise is not able to bridge the gap. Who Reinvents The Wheel Typically, technology teams often decide to go down the path of reinvention when they are allowed to make technology upgrade or technology creation decisions without business KPIs and cost constraints i.e. clear success criteria with fixed cost and clear ti