“New technology” can mean a lot of things. In practice, however, it often means something very different from what it may mean in theory. In this article we will try to clarify the term. We shall consider three broad definitions that are typically associated with the term and examine the ways in which they are used today by many people. After reading this article you should be able to decide for yourself which of these three general definitions to use when talking about new technology.
Broadly defined, new technology is any set of useful techniques that provide a major improvement (either in terms of improved output or lower costs) over the prevailing state of technology for a particular procedure in a given historical situation. As defined, a ‘modern technology’ is inevitably subject to constant redefinition, since successive changes in technologies… like computers, mobile phones, automobiles… have changed in the industries in which they are utilized. New technologies may also be introduced by governments, to address a pressing social or environmental problem. Defined thus, modern technology is almost always relative to time and situation. However, some newer technologies such as stem cell transplantation are outside the range of traditional definitions of new technology.
The second broad definition is “the latest technologies.” The latest technology trends are usually products or processes, such as automation, robotics, artificial intelligence, biotechnology, and computer hardware or software, that either eliminate or make far easier the work of humans. Technological unemployment is thus often discussed as a possible future reality. Automation does not only make jobs easier, by reducing physical exertion and therefore Reduce energy consumption, but it can also boost productivity, leading to an increase in economic activity and hence a rise in incomes.
The third definition is “The pace of innovation.” By this, we mean the speed and intensity at which new innovations appear in the tech industry. Trends in robotics and artificial intelligence are not yet in the realm of human inventions. It will be decades before artificial intelligence can replace most of today’s doctors, engineers, technicians, etc. Even if AI were introduced in full force within the next five years, there will still be a gap between the latest innovations in computer science and medicine and the actual invention of something like a robotic arm or an artificial eye.
Fourthly, “It takes one person to bring a product or technology into the market.” This means that while it is true that it is relatively easy for a corporation to bring a new product or technology into the market, it is still difficult to bring one person in, especially if that person is an expert in only one particular area. For example, if ten different people were to develop the next great Facebook, each of them would need to understand, learn, and communicate using only Facebook’s own language, social cues, etc., plus he would need to understand and use half a dozen other systems. It might take one person to figure out how to do all of those things, but it would still not be easy.
Fifthly, “Tech Trends is unpredictable.” If you ask an expert on tech trends what the current trends are, the answer might include “the future of banking, transportation, entertainment, medicine, diagnostics, etc.” The same goes for the future of internet technologies, autonomous cars, and other emerging technologies. The key is that if anything is predictable, it is because people are already using it.
Sixth, “So what?” Well, many experts say that one outcome of the upcoming technologies is the integration of artificially intelligent computers with the human mind. If this happens, we will have robots that are able to perform all the jobs currently performed by people. Companies like Google, Amazon, IBM, and Cisco have already demonstrated that they are working on this.
So we can see that the upcoming technologies for the future business environment include autonomous vehicles, 5G networks, smart dust, augmented reality glasses and more. These technologies will impact every industry, because businesses are always creating new technologies to make their businesses better. In fact, the first half of the future is already here. It’s called smartphones. Soon the smartphone will be able to do everything the computer can do. So expect to hear a lot about them in the next five years.