Adapting to New Technology: Positive and Negative Effects on Companies

This report discusses the positive and negative effects of adapting new technologies on companies. It covers the impact of Artificial Intelligence, machine learning, and other technologies on business operations, productivity, communication, marketing, and profitability. It also highlights the negative impacts of high tech expenses, data loss, and disruptive competition. The report concludes that adapting new technology is revolutionary but comes with both advantages and risks.

Written Report
(Adapting to new
Technology)

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Positive effects of adapting new technologies on companies.....................................................1
Negative effects of adapting new technologies on companies....................................................2
CONCLUSION ...............................................................................................................................3
REFERENCES................................................................................................................................4
Books and Journal .....................................................................................................................4

INTRODUCTION
In the modern dynamic world the invention of computer has introduced the whole world
to the technology of internet. New technologies are creating a transformative effects on business
and also there effects on business are revolutionary (Hanelt and et. al., 2021). Currently in the
business world there is emergence of ample of new technologies such as Artificial intelligence,
machine learning, UX, and much more. The modern business organisations are highly
competitive and are facing a major issue of adapting a new technology in their business
operations. The present report will discuss the positive and negative effects of adapting new
technologies on companies.
MAIN BODY
Positive effects of adapting new technologies on companies
 The adaption of new technologies like Artificial intelligence has harnessed very well for
the companies in every industry (Shao and et. al., 2021). This technology has bring a
huge positive impact on the functions of the businesses as the adaption of new
technologies has automated the business operations which has increased the productivity,
reduced time and cost and labour manual efforts (Antoniuk, Plikus and Jammal, 2021).
For example in automotive company like Tesla the adaption of artificial intelligence and
virtual intelligence technologies has automated features in programs and software's of
vehicles that has enabled the business to achieve its goal of sustainability by introducing
the world's best electrified cars and vehicles.
 With the adaption of new technologies, in addition to automated technology the
technology has completely transformed the IT businesses through information
communication technologies (ICTs). In the businesses like Tesco plc that has service of
Telecom the use of WWW and ICTs has ease the communication through apps, mails,
and other personal digital communication devices, also the companies are able to
communicate internationally through webcam and websites and much more (Irawanto,
Novianti and Roz, 2021). All of these medium of communication through new
technologies have fostered the business communication for the companies operating
domestically or internationally. Also adaption of features of ICTs has benefited the
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organisations to ease and foster the communication within businesses, and also with
stakeholders and consumers.
 With the adaption of new marketing technologies the retail organisations and big brands
like Marks and Spencer has been experiencing very positive outcomes on advertising of
the products and services (Zhou and et. al., 2021). This very beneficial for organisations
to have cost effective marketing and also through adaption of new technologies the
organisations are able to identify large target market, reach to consumers easily and gets
chance to expand in new markets all of this leads to profitability into business.
Negative effects of adapting new technologies on companies
With the pros of adapting a new technologies into the business there are also the negative
impacts of the same on the businesses (Zhang, Xie and Morrison, 2021). Some negative
impacts of adapting new technologies on companies are discussed below:
 Technology installation is not cost friendly in include high tech expenses. As it is belived
that in the spades of technology there is also application of one rule “No free lunch”. For
the small and large size companies adapting new technology leads the firms to upfront
expenses, high maintenance cost, recurring fees and many other hard end cash (Bhatti
and et. al., 2021). For example if the company like Unilever opt for new technology in its
supply change management system the company will be added with hosts of cost and
with that company will also require to invest on training of the employees on new
technology (Krammer, 2022).
 In the modern world with the adaption of new technologies the organisations are facing a
huge threat of hacking and data loss. This is huge negative impact on the companies as on
very regular basis companies are filling case for the stolen data, cyber crimes, data
thieves and much more (Ferreira and et. al., 2021). Such impact of adapting technology
leads the businesses to loss of private, sensitive and confidential information that may
bring negative impact on the companies reputation and also can cause loss of financial
resources.
 Dealing with adaption of new technologies is like bleeding edge as the companies as with
the pros of the technology there is high risk that enters into the system of the company at
the same time. Many times the tech vendors rush into the market with edge cutting
products that are inadequately tested and verified. Also the adaption of technology by the
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competitors may adversely impact the business of other companies operating in same
industry. Thus, technology seems disruptive for the companies (Allen and et. al., 2021).
CONCLUSION
From the above report it is concluded that adapting technology on companies comes with
both ends. One provide sustainable advantages and positive impacts on the operations and
profitability of the company. On the other hand the second side of adapting technology comes
with serious risk to business in terms of data loss, high tech expenses and much more. Thus, in
terms of future of the businesses by adapting new technology is revolutionary as technology is
rapidly changing and growing.
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REFERENCES
Books and Journal
Allen, T.D and et. al., 2021. Boundary management and work‐nonwork balance while working
from home. Applied Psychology, 70(1), pp.60-84.
Antoniuk, N.A., Plikus, I.Y. and Jammal, M., 2021. Sustainable business development vision
under the covid-19 pandemic.
Bhatti, S.H and et. al., 2021. Antecedents and consequences of business model innovation in the
IT industry. Journal of Business Research, 123, pp.389-400.
Ferreira, R and et. al., 2021. Decision factors for remote work adoption: Advantages,
disadvantages, driving forces and challenges. Journal of Open Innovation: Technology,
Market, and Complexity, 7(1), p.70.
Hanelt, A and et. al., 2021. A systematic review of the literature on digital transformation:
Insights and implications for strategy and organizational change. Journal of
Management Studies, 58(5), pp.1159-1197.
Irawanto, D.W., Novianti, K.R. and Roz, K., 2021. Work from home: Measuring satisfaction
between work–life balance and work stress during the COVID-19 pandemic in
Indonesia. Economies, 9(3), p.96.
Krammer, S.M., 2022. Navigating the New Normal: Which firms have adapted better to the
COVID-19 disruption?. Technovation, 110, p.102368.
Shao, Y and et. al., 2021. Making daily decisions to work from home or to work in the office:
The impacts of daily work-and COVID-related stressors on next-day work
location. Journal of Applied Psychology, 106(6), p.825.
Zhang, J., Xie, C. and Morrison, A.M., 2021. The effect of corporate social responsibility on
hotel employee safety behavior during COVID-19: The moderation of belief restoration
and negative emotions. Journal of Hospitality and Tourism Management, 46, pp.233-
243.
Zhou, X and et. al., 2021. Technological innovation and structural change for economic
development in China as an emerging market. Technological Forecasting and Social
Change, 167, p.120671.
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