The Chasm of Technology Innovation in Digital Transformation: A Study from the Perspective of Transformation Informatics

Abstract

Technological innovation plays a pivotal role in driving digital transformation. Successful entrepreneurs and business leaders recognise the potential benefits of adopting new technologies in a timely and strategic manner; because they understand this can help them gain a competitive advantage and position their organisations for long-term success in the dynamic digital marketplace. This chapter examines several cutting-edge technologies and their applications, including the Metaverse, Blockchain, and ChatGPT, from the perspective of transformation informatics. Specifically, the study aims to identify possible reasons why some technological innovations struggle to gain wide adoption and fall into what is commonly referred to as “the chasm”. To assess the significance of a technical breakthrough, the research considers various factors such as the height of technical barriers, its ecological breadth, its evolutionary potential, and its potential economic value and cultural impact on business applications. The findings of this research can help entrepreneurs to make informed decisions when selecting a technical track and enable executive leaders to manage creative technologies effectively while aligning them with their corporate strategies. By understanding the significance of emerging technologies and their potential impact on their organisation, leaders can make informed decisions and stay ahead of the curve in the rapidly changing digital landscape.