In any market economy, it is often assumed that competition is the primary driver of innovation, and this is certainly true to a point. However, anyone would be remiss to fail to point out the fact that cooperation and collaboration can also go quite a long way as a driver of innovation itself. The simple fact of the matter is that it is easier to be innovative if you have more information at your disposal, and those involved in the Internet of Things are beginning to realize this as technology expands and more information is available to more people. While the nature of competition will lead an innovator to keep their ideas to themselves in order to make sure that no intellectual property is stolen from them, those who have less of a fear in this regard are realizing that collaboration and the sharing of information and ideas can lead to better, more innovative products that can be made a reality much quicker than ever before. If you want to find out more, check out this great article about how collaboration can improve innovation.
While an app programmer might be hesitant to share his ideas with others for fear of the competition taking it and making it better, the true innovator realizes that his ideas combined with the ideas of another has the potential to make both ideas better. This is something that could lead to a new Renaissance, for lack of a better term, in the field of technology that pushes out the types of products that will make everyone’s life a whole lot easier.
While competition will always be a driving force in regards to keeping prices low and wages high, it appears as though collaboration and cooperation could lead to greater innovation.