Innovation diffusion, creative destruction, and generative AI
[Original post with chat excerpt] [LinkedIn article] 😎 What is innovation diffusion? 🤖 Innovation diffusion is a theory that explains how, why, and at what rate new ideas, practices, or products spread through a population or social system [Wikipedia] [Corporate Finance Institute]. The theory was popularized by Everett Rogers in his book Diffusion of Innovations, first published in 1962. The theory identifies five categories of adopters based on their willingness and ability to adopt an innovation: innovators, early adopters, early majority, late majority, and laggards [Corporate Finance Institute] [Investopedia] . The theory also considers various factors that influence the diffusion process, such as the characteristics of the innovation, the communication channels, the time, and the social context [Wikipedia] …
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