Greed
Is Greed Enough?Techno-greed has been exposed in the harsh light of the stock market. Speech technology has always been interesting and promising but the "get very rich very fast" component got out of control and deluded a large segment of the technology-business population. We all know the story. Just look at the financial balance of all the key players. (Poignant question: What is a balance sheet these days? Remember our industry's version of Enron and WorldCom?) Does anyone's revenue come even close to their burn-rate? Will the current model ever turn the corner on to profit street? Sorry. Probably not. It was over hyped and it missed the mark (wide), because instead of talking, it tried to fall back to something we might call "wording." The products weren't fun (read: intuitive, resonant, human-like). No one lined up to "buy", so the industry tried to "sell." I am optimistic though because one of the key defining characteristics of humans is our powerful use of language. It is as important to our success as building tools. It is unavoidable that we will talk to non-biological things at some point in the future, much as we use fire and the wheel everywhere in our everyday lives. We are born with a burning need and desire to talk. Our lives rely on the exchange of information. We strive for the most efficient method to accomplish that. Often the desired method is conversation. Serving needs and desires is the definition of a business opportunity. So, if we are on the wrong path, are we doomed? Perhaps an example from a previous success in high technology might be illuminating. Two things, one major need and one major desire, launched the commercial aircraft industry. I believe that the brass ring is at hand, and success draws more from insight and cleverness than it does from funding and market plans. Technology business history is littered with the wreckage of companies that relearn the old adage: More haste, less speed. Racing headlong for "market share" is more like a lottery than a business plan. The success stories are more luck than skill. Ultimately, the technology must be appropriate and "obviously beneficial" to make a sustainable industry. Specifically, ejTalk will refocus on the insight and cleverness that needs to be bridged before any real sustainable industry is possible. We will continue to work with our existing clients and partners who are addressing the real technological problems. We will welcome new associations where they will benefit from the unique, independent and forward thinking that we do at ejTalk. We don't pretend that we own all the answers, but we have redoubled our resolve to be part of the solution. We are in the process of revamping the ejTalk site. We will expend our energy on removing "dead horses" rather than beating them. We will avoid the issues of writing "one up" IVR with word recognition. They will not satisfy, profit or sustain in the market place. They are a side branch off the path leading to "talking with the machine." It is imperative that we not forget the needs and desires that will make this technology compelling, otherwise we are just pushing unappealing, make-do products. The industry doesn't need to start over, but it does need to back-track a bit to get on course. Remember, once speech technology becomes "obviously beneficial" and meets a major need and/or desire, then it will "take off" just like commercial air commerce did. Be prepared to hold on to your hat. Emmett Coin |
