September 14, 2005
Learning from the early adopters
It is to be expected that before accepting a new technology, companies adopt a wait and watch policy. The two important indicators of the future of a technology are the fates of similar technologies and corresponding industry parallels. For example, RFID is an identification and enabling technology like bar code technology. To some extent, RFID can be expected to face drivers and barriers similar to the preceding technologies. This information helps companies to get a feel of the rate of growth of the technology and the market's readiness for it. A clear idea of industry requirements and a mandate on standards can slow down the rate of adoption of a technology; which was the case with bar coding.
In addition to studying technology and market parallels, it is important that industry parallels also be studied. Typically, a new technology is adopted by the first movers and then gains acceptance with the more traditional segments like government agencies. Those who adopt technologies late have the advantage of avoiding the stumbling blocks that the early adopters faced and build their strategy in a smooth fashion.
Different businesses can obtain the same value that an early adopter gets from a technology. The healthcare segment can pick up potential uses of RFID from the DoD, which has been one of the early adopters of RFID. RFID tagging used to track supplies by the DoD can be used by the healthcare industry for tracking pharmaceutical supplies.
The healthcare industry is a prime illustration. Many of the applications of RFID within the commercial and government verticals can be directly mapped to opportunities within healthcare. Pharmaceutical tracking within the healthcare supply chain is a one example, but there are many other niche applications that can be explored and transitioned to healthcare as well. Real-time location systems deployed by the U.S. Department of Defense for tracking munitions or other assets can be applied within healthcare to track patients, caregivers and equipment. RFID wristbands used in the justice system for tracking inmates can be leveraged for more accurate medication administration in hospitals and so forth. In many cases the business case is totally different, but the value proposition is equally compelling. The level of technological maturity within an industry plays an important role in the horizontal transfer of technologies across industries.
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