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An analysis of the history of technology shows that technological change is exponential, contrary to the common-sense 'intuitive linear' view. So we won't experience 100 years of progress in the 21st century—it will be more like 20,000 years of progress (at today's rate).
Smihula identified during the modern age in society six waves of technological innovations begun by technological revolutions (one of them is a hypothetical revolution in the near future). Unlike other scholars he believed that it is possible to find similar technological revolutions and long-term economic waves dependent on them even in pre ...
Eroom's law – is a pharmaceutical drug development observation that was deliberately written as Moore's Law spelled backward in order to contrast it with the exponential advancements of other forms of technology (such as transistors) over time. It states that the cost of developing a new drug roughly doubles every nine years.
Eveland evaluated diffusion from a phenomenological view, stating, "Technology is information, and exists only to the degree that people can put it into practice and use it to achieve values". [74] Diffusion of existing technologies has been measured using "S curves".
General hype cycle for technology. Each hype cycle drills down into the five key phases of a technology's life cycle. 1. Technology trigger A potential technology breakthrough kicks things off. Early proof-of-concept stories and media interest trigger significant publicity. Often no usable products exist and commercial viability is unproven. 2.
Technological change (TC) or technological development is the overall process of invention, innovation and diffusion of technology or processes. [1] [2] In essence, technological change covers the invention of technologies (including processes) and their commercialization or release as open source via research and development (producing emerging technologies), the continual improvement of ...
The Y-axis of the diagram shows the business gain to the proprietor of the technology while the X-axis traces its lifetime. The technology life cycle (TLC) describes the commercial gain of a product through the expense of research and development phase, and the financial return during its "vital life". Some technologies, such as steel, paper or ...
His main stress is put on technological progress and new technologies as decisive factors of any long-time economic development. Each of these waves has its innovation phase which is described as a technological revolution and an application phase in which the number of revolutionary innovations falls and attention focuses on exploiting and ...