Saturday, October 16th, 2021
Engineering is fundamentally about invention and discovery – pushing the boundaries of technology in a direction that unlocks new capabilities or experiences.
Innovation is lucrative, and the demand for qualified engineers has historically far outstripped supply. Within virtually every software company you’ll find ambitious product
roadmaps poised to deliver value, but hampered by time-to-market. If AI can significantly shorten the product development cycle, then businesses will need to decide whether to
accelerate their roadmap or maintain their current pace with fewer workers.
Of course, businesses are established to consolidate resources, including human resources, to efficiently achieve their goals. So in the short term we can expect some churn as
businesses, workers, and customers adapt to the AI transformation. However, I believe that market forces will ultimately drive businesses to amplify their ambition due to increasing
capabilities, competition, and customers’ expectations of more rapid innovation. Overall, the market will favor faster and more substantial innovation, rather than the same pace of innovation only cheaper.
This phenomenon is described by the Jevons effect, and we’ve experienced this kind of transformation many times throughout our history because this is the impact of scientific advancement.
Every time a major new technology is introduced (e.g. the desktop, the web, mobile, the cloud, etc.) it has driven an expansion of industry as people are empowered to think bigger and solve
more challenging problems.
AI is simply the latest, and perhaps the greatest, step in this journey.
