Every year, people talk about the future of IT, which is shorthand for, "Some big changes may be in the works." In the last year, we've had to revise that sentence to read, "Some big changes are definitely in the works." Agile practices will be a critical tool for making this transition successfully, but not because of velocity. At least, that won't be the primary virtue of Agile that helps with the transition.
One of the Founding Fathers of Agile, Jim Highsmith, recently commented on his blog about an MIT study that surveyed one face of this mountain of change:
The implications of these changes in emphasis could be significant in terms of mindset and capabilities in and out of IT departments. From a focus on standardization, optimization, and cost control, the focus shifts to innovative uses of emerging technologies such as social media, cloud computing, and mobile devices; speed to market; flexibility to follow changing opportunities, and building new products and services.