EMERGING TECHNOLOGY

█  There are a lot of trend talks happening nearby you, about the 6G, Industry 5. O, Metaverse, Quantum Computing, and many other hot topics revolving around emerging technologies. These hot topics revolving around emerging technologies are getting the attention of tech companies, business leaders, and consumers. These trend talks and hot topics represent some real as well as suspicious pictures. However, both angle of representation is reasonable and acceptable. That’s why it becomes significant for the leaders and executives to recognize what is hype & reality from these trend talks and how to navigate and explore the opportunities and risks from this evolving concept of emerging technology. Technological growth includes incremental developments along with emerging & disruptive technologies. Emerging technologies are those technical innovations that represent progressive developments within a field for competitive advantage. In the history of technology, emerging technologies are modern-day advances and innovations in various fields of technology.

█  Emerging technology is a conceptual term commonly used to illustrate a new technology, but it may also relate to the continuing advancement of existing and current technology. Emerging technology can have a somewhat different meaning when used in different areas or specific to an industry vertical, such as manufacturing, life science, media, business, science, or education. Emerging technologies are technologies whose development, practical applications, or both are still mostly unrealized. These technologies are usually new but also incorporate older technologies discovering new applications and business use cases. Emerging technologies are often recognized as capable of changing the status quo. Emerging technology generally refers to technologies that are currently developing, or that are likely to be available within the next five to ten years, and is generally preserved for technologies that are generating, or are expected to generate, considerable industrial, social, and/or economic effects. Powerful new emerging technologies introduce new risks and opportunities that businesses can gain or struggle to keep up with.

█  As an objective solution, many emerging technologies are quite powerful, and their adoption rates are accelerating in some areas such as 5G, the internet of things, and Cloud Computing. Whereas many other emerging technologies, like additive manufacturing, artificial intelligence, and blockchain, are still being explored for their potential to deliver business value at scale. As these emerging technologies go through transition & transformation, your organization can reveal the real value through the combination of emerging technologies to provide business impact through technology convergence. You need to build capabilities and competence to develop agile and dynamic ecosystems by implementing new solutions and business models.

█  The advent of emerging technology is reorganizing all industries and requires leaders to embrace new capabilities to turn new emerging technology into a new competitive advantage. Emerging tech can give an enterprise exceptional capabilities and a competitive advantage. Emerging digital technologies have generated new opportunities while creating new challenges to the industry & society. While going through the journey of this course, we will learn more about emerging technology’s impact on industries, business markets, societies, and the economy. We will learn how emerging technology could impact the business model and operating model of the industries in the near and distant future.