Hardware and Software

Hardware makes the future possible. Software make it happen.

Public Domain. Source: NASA

That’s what I think about when I think about the robotics innovations that are poised to change our lives: drones, driverless cars, virtual assistants. These technologies are built around things we already know pretty well: cars, helicopters, and our smartphones. But by adding sophisticated software, they are about to make a big difference in the world.

Take driverless cars. I had a personal driver once, and it was great. I temporarily couldn’t drive because of a bicycle accident, so my employer hired someone to drive and type for me. I could read and talk on the phone, though. It was great to just get into the car and tell my driver where to take me. She figured out how to get there, while I concentrated on my work.

That’s what many corporate managers already have: personal assistants to take care of minor issues, while they focus on the big stuff. In the future, just having a smartphone could mean you have something to help you manage your life. It’s already easier to remember where you parked at the airport. And advances in programming make all this innovation cheaper, because once it’s coded, the marginal cost of distributing software is close to zero.

The hardware’s been around. Improvements in software are changing the way we live. The future is already here. It just isn’t evenly distributed.

Douglas R. Tengdin, CFA

Charter Trust Company

“The Best Trust Company in New England”

By |2018-04-19T06:38:55+00:00April 19th, 2018|Global Market Update|0 Comments

About the Author:

Mr. Tengdin is the Chief Investment Officer at Charter Trust Company and author of “The Global Market Update”. The audio version of each post can be heard on radio stations throughout New England every weekday. Mr. Tengdin graduated from Dartmouth College, Magna Cum Laude. He received his Master of Arts from Trinity Divinity School, Magna Cum Laude and received his Chartered Financial Analyst (CFA) designation in 1992. Mr. Tengdin has been managing investment portfolios for over 30 years, working for Bank of Boston, State Street Global Advisors, Citibank – Tunisia, and Banknorth Group. Throughout his career, Mr. Tengdin has emphasized helping clients manage their financial risks in difficult environments where they can profit from investing in diverse assets in diverse settings. - Leave a comment if you have any questions—I read them all! - And Follow me on Twitter @GlobalMarketUpd

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