Benefits and Business Applications
Despite the challenges, emerging technologies offer incredible benefits that are reshaping how we live and work. You can now keep in touch with family worldwide through text, email, and social media, whilst having instant access to global news, entertainment, and high-quality photography right in your pocket.
For businesses, technology has enabled global sourcing and international marketing like never before. Companies can now find suppliers anywhere in the world and reach customers across continents. However, this comes with significant costs - expensive equipment, maintenance, staff training, and accommodation needs can quickly burden organisations.
The real game-changer is how IT systems enable high-risk operations that would be dangerous for humans. Think data mining in hazardous environments, space exploration, delicate medical procedures, or unmanned devices handling disasters like Fukushima. These applications show technology's potential to protect human life whilst achieving previously impossible tasks.
Key Point: Businesses must balance the incredible opportunities of global connectivity against the substantial costs of implementing and maintaining advanced technology systems.
Artificial Intelligence exemplifies this balance - from self-driving cars to chess-playing computers, AI relies on deep learning and natural language processing to perform human-like tasks. Meanwhile, blockchain technology creates permissionless networks maintained indefinitely without central authorities, revolutionising how we think about digital transactions and data security.