What Does Innovation Produce?

by Jay Deragon on 07/31/2008

People ask us, why do you spend so much time in all this “social stuff”? Our answer is consistently because we love to learn.

Learning is a critical value attribute of being connected with others and reading selected social media sites. Learning produces knowledge and social computing puts the learning process on steroids. Using and sharing knowledge gained from relationships is producing a new economy.

Dan Robles writes: “Knowledge of individuals is becoming defined in smaller segments – instead of the college degree, how many top answers a person has for a question asked? How many hits does their blog get? How many comments do they receive? How many people endorse you? How many linkages do you have? Not unlike a credit score, the independent variables associated with risk are quantified for knowledge. Knowledge is taking on the form of a quality and a quantity – it is becoming tangible. This is the holy grail of finance, a condition where knowledge is tangible. Do not take this lightly; this is the innovation economy forming.”

“We are just seeing the beginning – web 2.0 will converge to web 3.0, the state of knowledge tangibility. That is the innovation Economy and it’ll knock you socks off when you see where it’s going. If we do it correctly, the implications are simply incomprehensible. It’s a great time in history.”

“I sit and write this response because I want to share some of my knowledge with another person who will combine it with their own and provide me with a new insight – which I add to my knowledge, etc. That’s all. Here I find a surplus of knowledge and I combine that with my deficit of knowledge then my new idea is added to the surplus to fulfill the deficit else where. This is an economy; this is the same dynamic that drives the trade and exchange of currency. Knowledge is tangible and therefore responds to forces of supply and demand.”

“In my research, I define “innovation” as the rate of change of knowledge with respect to time. By extension, anywhere that exhibits a rate of change of knowledge is a place where innovation happens. Money represents human productivity. The best way to make more money is to increase productivity. The best way to increase productivity is to innovate. There is simply no better way of doing this then by talking to people who think differently than I do. This is where corporate blogs fall flat.

The relationship economy and the innovation economy are joined at the hip. I hope that gets people’s attention.”

All This Social Stuff leads to “Swarm Intelligence”

Today humans are actually “swarming” using social networks as the means. Information sharing and relationship connectivity have been the initial attributes of the “swarming” we are witnessing. The few are gaining much while the masses are still learning or creating intelligence simply by being involved in a network. The speed of the phenomena is accelerating faster than any previous technological enhancement since the web first exploded. The acceleration we now see is the result of social interaction and sharing amongst people with common affinities. Thought leaders are learning, technologists are creating and the swarming is accelerating.

The coming era of social computing will bring humans, organizations, institutions and government’s social, intellectual, creative and economic opportunity beyond previous experience. Are you ready? What Are you learning?

What say you?

{ 1 comment }

Tatiana October 10, 2008 at 10:29 am

Searched innovation economy in msn but for some reason found this page.great info
Very useful post. where can i find more articles about this topic ?
hope to see some additional comments here

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