Current Trends on Technological Innovation | Report

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Current trends on
technological
innovation

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Current trends in technological innovation
Information technology plays a significant character in the business
communities that helps to control and evaluate the performance of the
business effectively. In this modern era, many companies are connecting
businesses with IT networks due to their capability to manage complex
tasks easily and provide reliable services to lead business performance
(Dirican, 2015). Artificial intelligence, IoT, wireless networks and machine
learning all these are advanced technologies that are used by the business
communities for enhancing productivity and organizational performance.
In which the uses of AI and machine learning networks are enhancing
rapidly that provide beneficial services to the companies and help to
perform automated systems for completing the business processes
effectively. IoT and wireless networks help to control and monitor the
computing devices without requiring a human to human communication.
Using such technologies the multiple tasks can be performed easily. The
purpose of the research is to evaluate current trends in technological
innovation and examine the importance of advanced technologies in
business communities. This essay will define a specific trend in technology
innovation and review its implications on organizational performance.
Artificial intelligence is the latest trend in technological innovation which is
a kind of information technology that helps to connect human things with
machines and computing devices effectively. More than 67% of the business
communities worldwide are using AI-based systems for completing business
activities and managing complex tasks effectively. Ransbotham, et al.,
(2017) reported that AI-based networks are capable to determine and
address the problems that occurred in the workplace and provide effective
decision-making approaches by which the level of business performance can
be enhanced. For example, amazon, google, Flipkart and many more
companies are using AI-based robots for performing business activities

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where the developed systems are linked to the computing networks for
completing the business works.
From a recent study, it is found that the uses of AI-based networks are
enhancing quickly due to their capability to manage workability and address
the human errors that occurred in the workplace (Carter, 2018). There are
numerous business applications of artificial intelligence for example
automation, natural language processing, and data analytics. Automation is
a major application of AI where the companies develop automated systems
based on the AI networks and perform business operations effectively.
Using AI technology companies can transform their manual business
operations into automated systems that significantly impact on
organizational performance and productivity. Brynjolfsson and Mcafee,
(2017) conducted a survey and determined that more than 56% of the
employees agreed that the utilization of artificial intelligence is beneficial
for the companies by which the multiple tasks can be performed easily and
performance of businesses can be increased. It is determined that AI has
the capability to detect the fraud signals and malware activities from the
computing devices by which the level of security can be enhanced and
private data of users may be protected from the criminals.
For example, financial sectors and banking communities are using AI-based
systems for performing financial operations and detecting fraud cases from
computing devices. Therefore, it is reported that the presence of AI
technology will be helpful for the companies and the level of customer
satisfaction can be enhanced in an appropriate manner. Carter, (2018)
reported that AI technology plays a significant character in the business
information systems, where the companies use AI-based systems for
obtaining and evaluating larger datasets over internet connections and
implementing effective decisions in the workplace. It is the latest innovation
in the area of a business information system that contains machine learning
programs by which communities can implement automated control systems