What Machine Learning Means for Product Development

A successful new product delivers a compelling user experience for an unmet need. I think this is why there is such a natural marriage between technology and product development; as technology progresses it opens up feasibility of meeting previously unmet or poorly met needs. When something big happens, like the web, or the advent of pocket supercomputers aka smart phones, we all get to dream up ways these things can be leveraged to deliver value to users. New technology is particularly exciting for entrepreneurs and underdogs. Established companies eventually get a lock on new markets. For example, it is increasingly difficult for a solo developer to build a profitable app, but when the iPhone and Android first launched, there was a window there where those who quickly saw ways smartphones could meet previously poorly met needs, like easily sharing photos or finding nearby places to eat, could make a killing.