The Market for Assistive Technologies and Commercial Development: The attached article on the market for assistive technologies has some bold predictions about commercial opportunities. Given your interest in business (i.e. finance, accounting, marketing, global management, etc.), what commercial opportunity in assistive technologies stands out for you?
The commercial opportunity that stands out to me is once these technologies are made more affordable, more people will be able to afford them. The article made it sound like Phil was very lucky to have all the technology that he does, even though some things are still not perfect. If these things are cheap enough for the average person, more people who need them for reasons like Phil can purchase them. Also, people that don’t need them, but may want the convenience provided by some of the assistive technologies could purchase them. If both markets could afford them and wanted to buy them, there would be significant profit.
The Market for Assistive Technologies and Social Impact: The article also offers us a glimpse of some of the social impacts that are possible through an attention to the development of this market. What specific positive social impact is likely/possible if the market continues to develop?
In Phil’s case, the development of the assistive technologies market has led him to be able to do many things that he would need help to do otherwise. If the market continues to develop, incomplete quadriplegics and people with similar things could become much more a part of society. If they could find their way around and open their door, the social impact would be very positive. For the average person to see someone overcoming something such as incomplete quadriplegia and being capable of certain thing would definitely positively impact society.
Other Examples Like This?: Based on our review of the market for assistive technologies as an area of opportunities for commercial development and opportunities for social impact, what other types of markets (likely in areas related to people, planet and profit) offer opportunities for commercial development and social impact?
Another types of markets that offer opportunities for commercial development and social impact is health care. Depending on how health care continues to change, it could be a very profitable industry or it could positively impact society. I would say that it’s definitely an “or” situation because society would be positively impacted if healthcare became cheaper/free, but the industry would be profitable if healthcare began costing more.