You’ve probably seen examples of technology adoption such as augmented reality (AR) in a Hollywood movie, or on TV. Maybe a friend has told you that AR is transforming routine processes for workers in aviation, automotive, medicine or manufacturing. And there are certainly plenty of “me too” products available, from various companies who’ve all found different ways to deliver AR by putting a computer on a person’s head.
But with all that hype, you’ve probably never seen your local FedEx driver, or utilities worker, or mechanic, actually wearing a pair of smart glasses.
The National Bureau of Economic Research, which looks closely at every company across the US, recently debunked many high-flying technology statistics, finding that barely nine percent have some semblance of advanced technologies such as AI or machine learning in place. The bureau surveyed 583,000 US businesses to gauge their technology adoption.
The Census Bureau in partnership with the National Center for Science and Engineering Statistics (NCSES), provides comprehensive and timely information on the diffusion among U.S. firms of advanced technologies including artificial intelligence (AI), cloud computing, robotics, and the digitization of business information.
The Annual Business Survey ABS is a large, nationally representative sample of over 850,000 firms covering all private, non-farm sectors of the economy.
We Live in a Technology Adoption Bubble
We’re inundated with industry surveys that show advanced technologies such as artificial intelligence and machine learning are just about everywhere.
Most industry surveys involve larger, forward-looking enterprises that tend to be the most visible to analysts, vendors, and media organizations.
While advanced technology adoption may seem pervasive, there is a vast landscape of businesses of all types that may still be relying on simple PCs, or even pens and paper to get work done.
The problem with many industry surveys is they involve larger, forward-looking enterprises that tend to be the most visible to analysts, vendors, and media organizations.
The survey’s authors at The National Bureau of Economic Research explained: “we find that adoption of advanced technologies is relatively low and skewed, with heavy concentration among older and larger firms, with firm size and age being key determinants of adoption.”
The Census Bureau looked at adoption rates within just about every business in the country, including your local tool-and-dye shop, restaurants, or greenhouse complex. The eye-opener is that even in industries where you expect to see heavy use of advanced technologies, widespread adoption is in the minority.
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