#10 Learning New Technologies as a PM
How to spot new and potentially disruptive technologies early on and learn them, so you can take full advantage of those that will benefit your product
Embracing the ever-evolving world of technology is a thrilling journey. It's remarkable how much has changed over the past decade, with a flurry of innovations like microservices, cloud-based computing, augmented reality, blockchain, the Internet of Things, machine learning, and artificial intelligence capturing our imagination. As passionate product people, our days are filled with delivering exciting new features and enhancements. However, it's essential to pause and reflect, lest we unintentionally miss out on emerging tech trends that could propel us forward in our careers or risk being outpaced by our competitors.
During my last 7 years, I have learnt new technologies such as Blockchain, microservices, APIs & some parts of 5G. I started from scratch and developed an expertise. Based on this experience, here is how I recommend your approach to learning new technologies:
Keep up with technology trends - Be Curious!
As the person steering the ship when it comes to your product, it's crucial to keep up with the ever-changing world of technology. You don't have to be a coding whiz or a machine learning expert, but having a genuine interest in the world of technology and a keen interest in knowing how things work, goes a long way.
Here's a practical tip for you: dedicate just an hour every week to explore new software trends and deepen your knowledge of the ones that could potentially impact your product. Dive into tech newsletters, tune in to tech podcasts, and have enlightening conversations with your development team—especially those tech-savvy folks who really grasp the ins and outs of software architecture. Ask them how stuff works. Personally, I have learnt a lot working with some of the smartest engineering folks around me, asking them questions and understanding on whiteboards.
By staying informed and curious, you'll be able to make informed assessments about the latest trends and decide if further exploration is warranted. Remember, being in the know doesn't just happen; it takes a small but consistent investment of your time and energy. Trust me, it's totally worth it!
Pick one and deep dive - Take Action!
Assess your interests and see which technology you seem to get interested in, which one seems to be of your use and which one of them according to you has a future. But do not spend too much time selecting one. All major technology areas - AI/ML, Blockchain, etc have potential, generally speaking. Just align with one.
Now, to get started, there is too much noise on the internet. Find what establishes the foundations of this technology. Are there any technical whitepapers to understand the basics? Subscribe to and read through blogs and articles about them. But go on this one cautiously, only follow and read from credible sources. Research carefully about the credibility of, from where you are reading. One of the other sources is to see the frameworks, platforms, projects & products using that technology. Read how are they using it, what benefits are they getting from using it and how does it translate to business benefits. Read their whitepapers, documentations and brochures.
The focus should be on “how things work” and you may understand this with various applications. If you do not have a technology background, just read through and see if you can get the summary of it and a logical understanding without going into the protocol level details.
Learn to apply - Build Solutions!
So, you're wondering how to apply & integrate new technologies into your new or existing product? Well, let me break it down for you. It's all about systematically assessing the impact of the technology on your product strategy and deciding if adjustments need to be made.
Also, these can be applied to an existing product with a new feature or you can build a completely new product with it - up to you! Whatever you do, it is important to note that you must answer the why? what benefit does it bring to your users? Almost always, the users do not care which technology do you use, but will care more about the unique benefits that you provide to them. Therefore, a common mistake to avoid is to go looking for a problem for the technology solution you have.
Here's a brief example of technology was applied to existing product which has benefited users, which otherwise wouldn’t have been possible: smartphones. They've evolved over the years to stay hip and in-demand by introducing nifty features like AI-enabled virtual assistants and face recognition. These advancements helped capture more market share and extended the product's life cycle. Pretty savvy, right?
Now, my recommendation is to conduct regular product strategy reviews with a collaborative twist. Round up your development team members and key stakeholders for these lively workshops at least once every three months. Together, you'll dive deep into the following questions to assess if a strategy change is in order:
Will the new technology address existing needs better or help fulfill new ones?
Will it cater to your current target audience or help you tap into a fresh market or segment?
Will it give your product a distinct edge, differentiating it from the competition?
How will it impact your business goals? Will it require a bigger investment, potentially reducing profitability, or will it boost revenue and cut costs?
To answer these crucial questions, you need to invest time in scouting new technology trends. Equally important, your development team members should have the chance to conduct the necessary research and experimentation. Remember, you want to be proactive, seizing technology opportunities and staying ahead of the game, rather than reacting to what your competitors are doing.
So, gather your crew, keep a close eye on emerging tech trends, and let your product strategy ride on innovation!