The Wall Street crisis has also taught us a great deal about technology.
For years we've listened to software companies tell us that, with technology, our decision-making will be made easier. And we'll be making better decisions. We'll have better facts. We'll be able to do better analysis—in small businesses, large enterprises, and financial-services firms.
And yet, the markets still crashed despite all this cutting-edge magical stuff. Where were the alerts? The safeguards? Those special programs and whiz-bang tools that so many tech companies promised? It didn't do much for Bear Stearns, Merrill Lynch , and AIG. Those guys had a lot of great and expensive technology, but they still tanked.
This financial crash has taught us that even the best technology doesn't do a very good job predicting anything—or even helping business owners and managers make decisions. At best, technology can help us do something faster. But we are a long way off from artificial intelligence. So, the next time some software sales guy tries to tell us that his business application will do anything more than increase productivity, We'll be hard-pressed to believe it.
For years the rage has been stocks and markets, and everyone's buying, buying, buying, and I'm an idiot if I'm not participating. The same goes for technology. Each week there's another new thing: software sold as a service (SaaS), cloud computing, Linux, Speech to Text, virtualization, Web 2.0, mobile computing, you name it. Sometimes I feel like just because I'm not doing any of these things I'm missing out on the party. Well, the financial mess we're in right now has taught me that maybe it's not always a great thing to be in the party.
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I myself is feeded by these tech .. but still I cant understand the worth of monney (read Billion of $$$) is worth the expenditure..
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Buddy,
ReplyDeleteIn my opinion technology brings tools which assists the user to make wise decisions. It is like you can bring the horse near the lake and it is upto the horse whether to drink water or not.
This financial debacle is not majorly because of the technology failure but actually for the greed of money exploiting the loopholes of the regulatory system.
What my take on this usage of technology to refrain a crisis is -"Out of scope". Reason lust for money rules the brain and their is no technology that can change this.
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ReplyDeletehmmnmn .. Even I used to think so Adi. But, lets look the other view. We developed so many high tech and all .. just to support all complex sumaarisation s.. reports and assistance .. for that hugeee $$$$ .... and what we got.. is this series of bankruptsies.
ReplyDeleteI am not saying that the crisis is becaz of thge s/w instead my view is of the expectation of those users .. who paid us .. that hugee $$$ for their help in time .. or even wrning shots..
May be we are wrong at defining the scope/limit of software to them .. or they are dumbo to expect too much .. from s/w .. so that they paid soooo high ..