What Is Emerging Technology

Published Date: 02 Nov 2017

Emerging technologies

Contents

What is emerging technology?

Emerging technology is all about the new technical innovations or advancements being made. These may include those which are in the development phase or are currently being in the developing phase for the further 5 to 10 years.as per mentioned in (emerging technologies, n.d.), it states that such technologies are very helpful in making the business substantially healthy and efficient for a better social and working environment.

There are various kinds of emerging technologies found today that may include information technology, wireless data connections, man machine communicatiuons,any kinds of customized printing, bio technology or formation of robotic mechanisms.

As per mentioned in (pulsifer, n.d.)The emerging technologies have become one of the major parts of our lives today and surely has made the tough lives easier yet quick. Such technologies are though not easy to make and have to be tested through several phases before being launched into the market.

As per mentioned in the global agenda 2010 being held in Dubai (Global Agenda Councils Emerging Technologies, 2012) which states the detailed meaning of the emerging technologies

Any form of technology that is novel in nature, brings knowledge and innovates towards change

Where there is capability towards quick development

Those technologies having impactful changes on the economy, business structures and on politics

Those opportunities that are challenging and address global issues

Those techniques that may transform the potential of entire industries

There are various reasons for giving it a name of emerging technologies because it has transformed the entire working structure into a highly tech working environment today. Firstly the growing competition found today in every aspect of working has led the way towards growth and efficient working to stay profitable and have ample chances of survival.it is also necessary for governments and organizations to ensure sustainable economic development and a healthy organizational environment for maximum investments.

Why is this an emerging technology?

The emerging technologies may be used as tools for designing improved business strategies, investment policies and partnerships with closed customer relationships so that maximum number of potential needs are fulfilled. (www.thelawdictionary.org, n.d.)

Such sustainable models could develop a proactive approach in developing the overall wellbeing of the organization through more integrated working prospects and protecting businesses from large scale liabilities. Mass novelty and thorough research and development has become an essential component for the organization who want long term holding of their name in the market and significant reputation.

As said by (Clarke, n.d.) That sufficient high technology and innovation is not different than magic.

Thus it clarifies that innovation and advancements needs to keep updated and practiced because novelty and creation is the key to business success. Therefore there are also several opportunities created today for this particular sector of jobs. (George S. Day, 2004)

Possible benefits and disadvantages

There are numerous advantages of emerging technologies being faced with little drawbacks.

Firstly, these technological advancements are helpful in providing continuous broadband services as well as online gaming and several bandwidth intensive applications. Thus the dsl allows for large wireless networks that may aid large storage of data capacity. (Emerging Technologies: Key advantages and issues, 2011)

Secondly there is also possibility for large data sharing and transformation from one point to another. Such information management will aid rational decision making and result in efficient resource allocation for organizations

Later it helps to strengthen the business relationships and allow organizations to work in collaboration no matter how widespread or far they are from each other. (timdodd, 2012).

Technology also helps to automate the business tasks and sends instant feedback which improves quality and enhances performance of the resources with efficient time management. Communication gets rapid with being cost effective.

Later it could also said that technology helps to reduce wastage as workings are more environmental friendly. There are also less chances of disruption as tools like electronic mail, mobile phone technology using text messaging, faxing documents enhances the transformation of information among business partners, customers ,team members and suppliers. (Advantages and Disadvantages of Information Technology)

Few of its possible flaws are also mentioned .firstly there are high chances of security issues. Just as there are several hackers and thieves who may leak certain essential information that may be confidential for businesses. Any money fake entries or illegal usage of online banking may also have great chances.

Secondly there are various chances of its illegal usage or harassment or black mailing cases where people could get trouble. There may also me stalking on peoples personal profiles too. Social networks may also be spied.

Pressure On IT Experts

 

 

Information technology has made it easy for users to access any information or artifact at any given time and at any place.  With the increased development of music sharing networks and photo bookmarking sites, many original creators of these works are losing the credibility of their works, as users of IT may easily gain access and perform the sharing of data with friends. Free music or any kind of downloading sites may allow lots of original work like music albums, books, are being downloaded for free or being infringed.

IT experts are also now under pressure to ensure and confirm the accuracy and availability of the systems designed. Large organizations also need to operate all day long and so they will require a 24 7 IT team to cater and fulfill needs for any upcoming issues arising in between operations.  This kind of pressure may result into large stress and work overload with imperfection.

 

Large and expensive training is also one of the major costs attributed to the emerging technologies. Therefore quick training and impactful educational programs are essential to create an overall awareness. Thus poor countries may not enjoy these benefits as their literacy ratio is severely low.

Real case example

However the company that needs to reform and restructure its company towards emerging technologies include Ghantoot Construction Company. The reason for recommending this name is because although they are very large in size. But they tend to spend very less of their budget into the research and development and keep their machines with minimum upgradation.Their machines and vehicles are outdated and are standing like that only. Therefore I recommend that they should keep themselves in line with the emerging innovations, train their experts, bring high tech products and keep large budgets as their research and development. (ghantoot group, n.d.)