Does technology drive business or business drive technology?

The relationship between technology and business is reciprocal. Technology often drives business by creating new markets and opportunities, as seen with the internet's impact on various industries. Conversely, business needs can spur technological innovation, like the demand for efficient data tools leading to advancements in AI. Essentially, they fuel each other in a cycle of progress and innovation.

Technology enables business but business requirements drive technology.

Technology drives business. Actually I will restate: Digital Era Culture (Gen Z) drives business.
And it is hard to separate the impact of technology from the culture. So culture drives business and since culture is technology (and social) then technology drives business as a simplification of a complex topic. What is clear is that business does not drive technology and hasn't done so since 2012.

We as IT and corporate management are still living the mantra, the governance and the quality methods developed in the pre-digital era and the great IT quality failures of the 80s and 90s. Which response was a level of quality control and rigidity that even Agile doesn't solve and a perception by corporate stakeholders that the business is in charge even though digital dexterity in all organisations is low.

I've taking a maverick approach here and I hope I don't offend, but it's time for IT organisations to step up to the leadership plate and guide their organisations toward the 21st century value creation that comes from an organisation that is:
- open and transparent
- breaks down hierarchy (e.g. 20th century management principles are to be thrown out the window: scalar chain, unity of command, span of control, functional division and specialisation)
- builds social capital and engages proactively in leading social dialogue
- minimises effort
- encourages innovation
- encourages learning opportunities for MACHINES as much as for humans (which would be a good start)
- and maps and engages one's ecosystem (considering an ecosystem is all of the corporate and human actors in your industry as well as the one's next to it, and for all of your partners, but also all of your competitors
- seeks to break down corporate boundaries to gravitate to where ecosystem actors (not partners) are exchanging value.

That drives business.

Technology and business are intertwined. Technology is a tool that businesses use to increase efficiency and productivity, while business is the driving force behind the development of technology. Both technology and business have the ability to drive each other in a mutually beneficial relationship.

That's a good question that I often get asked. Although it's true that business drives technology but is a chicken-and-egg situation actually. New technology advancements are paving way for new businesses. If you are into a tradition business model it's the business that drives technology.