Emerging Technologies: Definition, Benefits, and Risks
Emerging technologies are scientific innovations, often radical or resulting from research convergence, that create new industries or fundamentally transform existing ones. They drive significant improvements in product variety, quality, and efficiency by shortening production cycles. While offering substantial competitive advantages, their adoption requires overcoming technological, operational, and organizational risks, demanding strong managerial commitment.
Key Takeaways
Emerging technologies are radical innovations that transform industries.
Benefits include better products, greater variety, and shorter production cycles.
Adoption carries risks like obsolescence and operational disruption.
Long-term success requires full commitment from management and employees.
Traditional management tools often fail to address these new challenges.
What defines an emerging technology?
Emerging technologies are defined as scientific innovations that fundamentally alter the industrial landscape. These innovations are characterized by their ability to either create entirely new industries or radically transform existing ones. They often include discontinuous or radical technologies, or they may evolve through the convergence of various research fields, signaling a significant shift in how products are developed and delivered.
- Create new industries or transform existing ones.
- Include discontinuous (radical) technologies.
- Evolved by the convergence of research.
What are key examples of emerging technologies focused on human interaction?
Key emerging technologies centered around human interaction are rapidly reshaping how individuals and organizations communicate, work, and operate. These technologies represent significant advancements in automation and data processing capabilities, driving efficiency and new forms of engagement across various sectors. They are foundational to modern digital transformation efforts.
- Artificial Intelligence (AI).
- Information and Communication Technologies (ICT).
- Robotics.
How do emerging technologies benefit businesses and consumers?
Emerging technologies provide substantial benefits by enhancing product offerings and streamlining operational processes. Businesses can offer a much greater variety of products, exemplified by the numerous versions of devices like the Sony Walkman. Furthermore, these technologies ensure products possess better characteristics and higher quality, while simultaneously shortening production cycles, which reduces the time required for manufacturing and delivery.
- Greater variety of products (e.g., Sony Walkman, over 300 versions).
- Products with better characteristics and quality (e.g., ATM, microprocessors, yogurts).
- Shorter cycles, reducing time in production and delivery.
- Reduction and savings in inventories.
What are the primary operational objectives of adopting emerging technologies?
The primary objectives for adopting emerging technologies center on optimizing internal operations and improving customer satisfaction. Companies aim to achieve greater inventory rotation and enhance overall product quality. By implementing these technologies, organizations can establish more flexible operations, significantly improve customer service, and eliminate waste. Ultimately, a key goal is to reduce the cycles required for introducing new products to the market.
- Greater inventory rotation.
- Improvement of quality.
- More flexible operations.
- Better customer service.
- Elimination of waste.
- Better administrative management.
- Reduce cycles for introducing new products.
What risks are associated with implementing emerging technologies?
Implementing emerging technologies involves navigating several categories of risk, ranging from technical failures to organizational resistance. Technological risks include adopting unproven systems or facing rapid obsolescence, especially with electronics-based solutions, or the sudden appearance of more profitable alternatives. Operationally, short-term disruptions due to reorganization and training are common. Organizational risks involve the lack of necessary culture or commitment, potentially leading to employee abandonment or failure to implement required changes.
- Technological Risks: Technology acquired but not well tested.
- Technological Risks: Risk of obsolescence (electronic base).
- Technological Risks: Appearance of more profitable technologies.
- Operational Risks: Short-term disturbances (reorganization, training).
- Organizational Risks: Need for organizational culture and commitment.
- Organizational Risks: Avoid abandonment by employees/managers or non-implementation of changes.
- Environmental or Market Risks: Risks of changing regulations.
- Environmental or Market Risks: Financial risks.
How do emerging technologies impact productivity and competitive advantage?
Emerging technologies play a dominant role in increasing productivity and securing a competitive edge in the marketplace. Companies that adopt these innovations early gain a significant advantage. Specifically, technologies like Computer-Integrated Manufacturing (CIM) generate increasing, often exponential, benefits over time. While tangible benefits may only materialize in the long term, the costs associated with these technologies decrease with wider adoption, making them increasingly accessible even to small and medium-sized enterprises (SMEs).
- Dominant role in increasing productivity.
- Advantage for companies that adopt early.
- CIM technologies generate increasing (exponential) benefits.
- Tangible benefits are obtained in the long term.
- Costs decrease with greater adoption, making them accessible to SMEs.
- Full commitment from management and employees is crucial (Factor Crítico de Éxito).
Why do emerging technologies pose a significant management challenge?
Emerging technologies present a significant management challenge because traditional management tools are often incapable of resolving the new complexities they introduce. The rapid pace of change and the need for deep organizational transformation mean that established methods fall short. This challenge affects both mature, established companies and newer enterprises, requiring leaders to adapt their strategies and organizational structures to effectively integrate and leverage these powerful new tools.
- Traditional management tools are not capable of resolving new challenges.
- The challenge affects both mature and new companies.
Frequently Asked Questions
What is the primary characteristic of an emerging technology?
The primary characteristic is their ability to act as scientific innovations that either create entirely new industries or fundamentally transform existing ones, often involving radical or discontinuous changes.
What are the main operational benefits derived from emerging technologies?
Operational benefits include achieving greater product variety, improving product quality and characteristics, and significantly shortening production cycles, which leads to reduced inventory and faster delivery times.
What is the biggest organizational risk when adopting new technologies?
The biggest organizational risk is the lack of necessary organizational culture and commitment. This can lead to employee or managerial abandonment, resulting in the failure to successfully implement the required changes.
How does early adoption affect a company's competitive position?
Early adoption provides a significant competitive advantage. These technologies, particularly those like CIM, play a dominant role in increasing productivity and generating benefits that grow exponentially over time.
Why are traditional management tools insufficient for emerging technologies?
Traditional management tools are insufficient because they were not designed to handle the novel complexities and rapid pace of change introduced by emerging technologies, making them incapable of resolving these new challenges.
