A comprehensive study of technological change
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The societal impacts of technological change can be seen in many domains, from messenger RNA vaccines and automation to drones and climate change. The pace of that technological change can affect its impact, and how quickly a technology improves in performance can be an indicator of its future importance. For decision-makers like investors, entrepreneurs, and policymakers, predicting which technologies are fast improving (and which are overhyped) can mean the difference between success and failure.
New research from MIT aims to assist in the prediction of technology performance improvement using U.S. patents as a dataset. The study describes 97 percent of the U.S. patent system as a set of 1,757 discrete technology domains, and quantitatively assesses each domain for its improvement potential.
“The rate of improvement can only be empirically estimated when substantial performance measurements are made over long time periods,” says Anuraag Singh SM ’20, lead author of the paper. “In some large technological fields, including software and clinical medicine, such measures have rarely, if ever, been made.”
