An excellent comparison, Nicolas! It is very useful to differentiate between technological and process innovation. Another example would be electrification: Right after the commercial production of electricity started, there was a surge in investments into power plants, and rightly so of course. But in the long run, the value creation wa…
An excellent comparison, Nicolas! It is very useful to differentiate between technological and process innovation. Another example would be electrification: Right after the commercial production of electricity started, there was a surge in investments into power plants, and rightly so of course. But in the long run, the value creation was in the companies that successfully integrated electricity in their manufacturing processes and therefore became more competitive. It is not a question of doing one and not the other - we Europeans should invest in the application layer as well as the models, but I think the sequence matters: https://danielflorian.substack.com/p/the-unsolved-dilemma-in-henna-virkkunens
An excellent comparison, Nicolas! It is very useful to differentiate between technological and process innovation. Another example would be electrification: Right after the commercial production of electricity started, there was a surge in investments into power plants, and rightly so of course. But in the long run, the value creation was in the companies that successfully integrated electricity in their manufacturing processes and therefore became more competitive. It is not a question of doing one and not the other - we Europeans should invest in the application layer as well as the models, but I think the sequence matters: https://danielflorian.substack.com/p/the-unsolved-dilemma-in-henna-virkkunens