convergence of technologies..!

Technological innovations have been at the forefront of economic development since the beginning of the industrial revolution. They have been the growth drivers of productivity in our day to day activities. In some cases, revolutionary breakthroughs have given rise to totally new field of knowledge like genetic engineering,nuclear energy which have accelerated human welfare on an unprecedented scale. On the other hand , technologies like internet and mobile communication have truly made this world a global village . The transaction costs of conducting intercontinental business has come down and productivity has gone up in leaps and bonds. It has led to a situation where most of the business can be performed in virtual cyber space without having to suffer the pain of physical travelling from one country to another. However, the multiplicity of different technological standards and the presence of different technologies aimed at the same market has led to convergence of technologies. It reduces confusion among the developers and customers.

For example, now a days, the distinction between a cellphone and a laptop has come down significantly. Similarly customers expect that their personal computer should also perform the tasks of a television and music system. Similarly, the boundary between internet and telephone has disappeared due to online services like gtalk, skype etc. We have reached a stage where a simple stand-alone technology is not going to succeed in the marketplace.We require strategies based on targeting a set of related needs of the customer which ultimately leads to convergence of different technologies.!!