**4. Conclusion and discussion**

Selecting the appropriate technical track is crucial for both entrepreneurs and executives in their pursuit of technological innovation and commercial success. By staying up-to-date with the latest advancements in their respective fields, they can effectively compete with their rivals, and ensure the long-term growth and sustainability of their ventures or organisations. As shown in **Figure 3**, the challenges of crossing the chasm between different technologies vary depending on the type of

technology being developed. For instance, deep tech startups should focus on the inner circle as their starting point, as they do not necessarily need to wait for the industry to mature or for other industries to collaborate.

Chat GPT's approach starts from the inner layer to change the technical norms by targeting users, constrained abilities, which the current technologies have failed to liberate. The ease of commercialising such innovations depends on how close the liberated ability is to the fundamental needs of users. In the case of Chat GPT, it provides knowledgeable and human-like chatbot services to users, fulfilling their need for efficient communication. Similarly, other innovations such as Google search engine, Facebook, and TikTok have also succeeded in quickly spreading through word-of-mouth channels and becoming phenomenon-level applications.

However, the main challenge faced by such deeptech startups is crossing the chasm of regulatory measures and concerns regarding changes in the existing business ecosystem. The pace of regulations and concerns often lags far behind the majority of users who adopt these innovations, because issues can only surface after widespread adoption. Consequently, developers face the arduous task of grappling with unforeseen challenges that were difficult to predict and address from the outset. In other words, the gap that technical norms changers must overcome is related to both formal and informal norms. For example, as Chat GPT acquired its first 1 million users within just 5 days and continues to rapidly grow into a phenomenon-level application, concerns about potential risks and negative impacts are becoming a widespread topic of discussion. These concerns include the unethical use of AI, the privacy and security of personal data, the absence of accountability and transparency, biases and discrimination, and job displacement. This is particularly true with the release of OpenAI APIs for cross-disciplinary users, which may further exacerbate these concerns. In addition to these concerns, there are also worries about the potential impact of Chat GPT on our society and culture. As technology becomes more advanced and widely adopted, it has the potential to fundamentally alter how we communicate and even how we think. As a result, developers must carefully consider the potential impact of their innovations on society, culture, and the environment, as well as the ethical and legal implications of their technology. They must also engage in ongoing dialogue with policymakers, industry leaders, and the public to ensure that their innovations are safe, secure, socially responsible, and beneficial. By considering these factors and working collaboratively with other stakeholders, developers can help bridge the gap between emerging technologies and established norms and facilitate the responsible and sustainable deployment of innovative solutions.

Blockchain technology starts from the middle circle (as shown in **Figure 3**), disrupting traditional transactional norms by eliminating intermediaries, improving processing efficiency, and providing resistance to tampering and fraud. This innovation has the potential to greatly reduce transactional costs, increase security and transparency, and enable new business models that were previously impossible. However, innovations that change the formal norms of business face the challenges of large-scale adoption, as well as the challenges of the inner circle.

For example, some of the cryptographic algorithms used by blockchains could be broken by quantum computers. The security of blockchains relies on the computational difficulty of certain mathematical problems, such as factoring large numbers or solving the discrete logarithm problem. Quantum computers can solve these problems much faster than classical computers using algorithms like Shor's algorithm. Even though quantum computers are still in their infancy and currently only exist in the form of small-scale prototypes, the breakthrough of quantum computers will render

### *The Chasm of Technology Innovation in Digital Transformation: A Study from the Perspective… DOI: http://dx.doi.org/10.5772/intechopen.111793*

blockchain technology's formal norms obsolete. In addition, concerns over energy consumption and the environmental impact of blockchain have been raised, as well as issues around scalability, interoperability, and regulatory compliance. Additionally, the existence of well-established players and their vested interests can also pose a challenge to the adoption of blockchain technology.

For the innovations that disrupt informal norms, such as Metaverse, the challenges are significant. The maturity of software and hardware, the willingness of cross-industry collaboration, and the adaptability of users to change their behaviour are all significant hurdles that are difficult for startups to overcome, and even technical giants find them challenging to navigate. Despite Facebook's strong financial resources and technology accumulation, it still faces significant challenges in successfully commercialising the metaverse. There are numerous aspects that need to be perfectly coordinated and require significant resource investment. Additionally, rather than simply extending user capabilities to change user habits, a successful metaverse implementation requires a fundamental shift in user behaviour. These obstacles make it unlikely that the metaverse will succeed, even for a company as powerful as Facebook.

This framework (**Figure 3**) is not only applicable for entrepreneurs in selecting their entrepreneurial directions but also for executives to identify disruptive technologies for their digital transformation. In particular, it is important to add considerations of the challenges and risks faced by disruptive technologies as part of the screening criteria. By doing so, businesses can make informed decisions on which technologies to invest in and develop strategies to mitigate potential risks and challenges.
