7. Decision-Making in Technology Adoption

But the first thing is one has to look at; it is a very risky decision whether to take it or not. Imagine, someone has invented tomorrow a car driven with just water, not with petrol, so what happens people will start adapting because they keep putting water on it and they keep driving it, then they can save a little bit more money but then what happens to a larger ecosystem, what happens to the larger habitat?

When faced with the option of adopting new technology, individuals often see it as a risky decision because the consequences are unknown. For example, if a new type of car is introduced that runs on water rather than petrol, while it may seem beneficial because it saves money, it raises questions about its long-term impact on the environment and overall ecosystem. People need to weigh the benefits against the potential risks and consequences before deciding to adopt such technologies.

Consider mobile phones: when smartphones first emerged, many were hesitant to switch from their basic phones. They saw potential benefits, like internet access and apps, but also worried about costs, data privacy, and the complexity of the new technology. Over time, as more people adopted smartphones and shared their positive experiences, others felt more secure in making the switch.

So, this is where the information seeking, we are able to seek some information and we are able to process it development or activity so, this is a very important decision making process whether I install new technology or not because it is a very risky, you do not know what is the consequences and we try to rely on this information seeking, you know that how we seek for information and process it, we develop it, we make our own analysis of whether we should go further or not.

When individuals are considering adopting new technology, they often seek out information to help guide their decision. This process involves gathering opinions, reviews, and experiences from others who have already adopted the technology. This helps to form an understanding of the potential benefits and risks, allowing the individual to make a more informed choice about whether or not to proceed with the adoption. Essentially, it’s about reducing uncertainty through knowledge.

Think about wanting to buy a new laptop. Before making a purchase, you might read reviews online, ask friends about their experiences, and compare different models. This information-seeking process helps you understand which laptop might meet your needs and whether it’s worth the investment, thus helping reduce the anxiety of making a potentially costly mistake.

In order to implement these tanks, one is sharing information on innovation whether someone's feedback, someone who have used it that can also reduce some risks, you will become familiar with certain risks which someone else have faced it or they have encountered also you will get some familiarity about the uncertainties, from an early adopter to the late adopters now, how information flows?

Early adopters play a critical role in the diffusion of new technologies as they are often the first to try out innovations. Their experiences are shared with others, providing valuable feedback that can inform potential adopters about what to expect. This sharing of information can help allay fears and concerns, thus making it easier for late adopters to decide to follow suit. Feedback from early adopters reduces uncertainty and helps build trust in the new technology.

Think of the launch of a new video game. Initial players often share their online reviews or stream gameplay on platforms like Twitch. Potential buyers watch these streams to gauge whether the game meets their expectations. If early adopters provide positive feedback, it influences others to make the purchase, as they trust the experiences of those who have already tried it.

Individuals are influenced by others, learn from others and eventually, change the decision. So, someone wants to buy this, they were initially very fascinated to buy this product or to take this to implement this product but then they learn that this is the after effects of it, there is a side effects of it and that is what they might change the decisions.

This process of learning and adapting can be illustrated by a Bell Curve of adoption, which shows how different groups adopt innovations over time. Early adopters usually take risks to try new products, their experiences and feedback influence the majority, who may be more cautious. As more information flows through social networks, it can sway people’s decisions to adopt or refrain from adopting technology based on shared experiences and insights.

A practical example is how social media platforms like TikTok gain popularity. Initially, a small group of influencers adopts the platform and shares their experiences. As their followers notice its popularity and the unique content, they begin to join, which influences their peers. Eventually, as the platform becomes mainstream, late adopters jump on board once they see overwhelming evidence of its value and social acceptance.

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