Our world is speeding up. Technology is often blamed but a more in-depth examination points to man’s desire and ability to create new economic models which have to lead to the progressive commodification of time. After all, ‘time is money’, or time is the basis for economics and all the supporting technologies. These technologies brought us all the conveniences and comforts that were not imagined a decade back.

But on the contrary, the recent global upheaval made us aware and accept basic human needs and emotions far more deeply than ever before. We have realised what really matters to us and what were the appendages. As an outcome, we have started looking consciously at real human experiences and ways to satisfy the very essence that makes us who we are.

If time (time is money) has been one of the axes; what could be the other axis?

The other axis could be if we combine the exponential speed and power of technology to create new techno-economic models with a deeper understanding of our needs and emotions. This approach can positively affect the societal fabric and philosophy of everyday life. Like the light at the end of the tunnel, this complex situation presents us with a great opportunity to think differently and challenge the status quo.

The new axis can move organisations that traditionally used design for improving the look and functionality of products and create convenience (time-saving) to opportunities that we have never seen before. To make the most of the new axis understanding humans and the entire system of which we are an integral part is critical. We are not the system! The new axis uses deep human insights and rapid prototyping, all targeted at getting beyond the basic assumptions that block effective solutions. This axis is — inherently optimistic, constructive, and experiential — addresses the fundamental needs of the people.

Embracing this approach will help organisations be more innovative, be the best fit for the evolved customer psyche and reduce expensive product failures or changes. This new way, the integrated approach at the core of every organisation, provides a totally new axis for innovation and drives the change that matters the most.

(This Perspective was originally published on March 8, 2021 by Shekhar Badve on LinkedIn)