Gordon Moore, the Chairman Emeritus of Intel Corp breathed his last. He was 94 years old.
One of the things he is known for is what has come to be called “Moore’s Law”. In 1965, he
postulated that the number of transistors on a microchip would double about every two years. This observation implied that the speed and capability of the computers will double about every two years even as the cost of computers will halve. Over the years as this prediction bore out his prediction can be to be known as the “Moore’s Law”.
This became the guiding principle for the pace of Development of the industry.
That this searing pace of development has impacted the speed of technological, economical, productivity changes is well known. More interesting is to understand how it has impacted sociological change. As Marketing/Sales professionals whose work focusses on anticipating and understanding Consumer Needs, it is the impact on Consumer Choices, Buying Behaviors, Decision making process which would be greatest interest.
We can see the impact of Moore’s Law on virtually every industry- from Consumer services to Automobiles, Healthcare, Manufactured Products.
The Electronics Industry The most obvious impact of Moore's Law has been on the electronics industry. With the doubling of transistors on microchips about every two years computing capacity has increased exponentially. This has led to the development of smaller, faster, and more powerful devices, such as smartphones, laptops, and tablets. Consumers have come to expect that these devices will become faster and more powerful with each new generation, and they are willing to pay a premium for the latest technology hitting the market. The Automotive Industry Moore's Law has also had a significant impact on the automotive industry. As computing power has increased, so too has the ability to control and monitor the various systems in a car. This has led to the development of features such as lane departure warnings, adaptive cruise control, and self-parking. Consumers have come to expect these features in their cars, and they are willing to pay a premium for them. In addition, as electric cars become more popular, the development of more powerful and efficient batteries has become increasingly important, and Moore's Law has played a role in that as well. The Healthcare Industry Moore's Law has also had an impact on the healthcare industry. The ability to process and analyze large amounts of data has led to advances in medical research, drug development, and personalized medicine. For example, the Human Genome Project was made possible by advances in computing power, and the development of targeted cancer therapies is dependent on the ability to analyze large amounts of genomic data. Consumers have come to expect that healthcare providers will be able to use the latest technology to provide personalized care and treatment options.
The Manufacturing Industry Finally, Moore's Law has had an impact on the manufacturing industry. As computing power has increased, so too has the ability to control and monitor manufacturing processes. This has led to the development of more efficient and precise manufacturing techniques, such as 3D printing and robotic assembly. Consumers have come to expect that products will be manufactured to a high level of precision and quality, and that manufacturers will be able to quickly adapt to changing consumer demands.
In conclusion, Gordon Moore's prediction in 1965 has had a significant impact on consumer expectations in many different industries. As computing power has increased, consumers have come to expect faster, more powerful, and more personalized products and services. Industries that have been able to meet these expectations have thrived, while those that have not have struggled to remain relevant. As we look to the future, it is clear that Moore's Law will continue to play a role in shaping consumer expectations and driving innovation in a wide range of industries.