Innovation and New Technologies for Business Information System

Running Head: INFORMATION SYSTEM 0
INNOVATION AND NEW
TECHNOLOGIES

INFORMATION SYSTEM
Table of Contents
Introduction................................................................................................................................2
Latest innovative technology useful for business information System......................................3
Conclusion..................................................................................................................................7
References..................................................................................................................................8

INFORMATION SYSTEM
Introduction
Baregheh, Rowley and Sambrook (2009) defined innovation as the process of developing and
implementing a new idea and turn it into valuable and beneficial products, services and
methods of operations. In the dynamic and changing business environment, innovation
provides a business with a competitive edge considering both larger scale and small scale
businesses. However, it is easier for big scale organisation to undertake innovation due to
massive capital that can be invested in research and development. In relation to importance of
innovation, it provides an enterprise with an edge to penetrate the market in more competitive
way and also help to develop better linkage with the developed markets, particularly into
developing nations.
On the other hand, technological innovation is related to successful implementation of a
technical idea influencing organisational population greatly by disruptive markets (Ke and
Wei, 2008). The technological innovation process also includes series of phases important to
implement improvements or build out new development process, product or services. Some
of the current technological trends emerging in the business include SaaS revolution, cloud
computing, augmented intelligence and analytics, e-commerce, bots, IoT, Quantum
computing and block chain technology. Innovations in IT change internal company
processes, but they are also changing the way consumer experience in relation with
purchasing and support. These technological trends came into existence with the digital
transformation and changing business competitive landscape that revolutionizing every
industry and sectors (Lee, Olson and Trimi, 2012).
In relation with information system, the major trends include cloud computing, big data
analytics, virtual and augmented reality, internet of things and Artificial intelligence. For
instance, artificial intelligence is transforming a number of industries including hospitality,
healthcare, finance, robotics and so forth. For instance, smartphone industry manufacturers
embedded artificial intelligence algorithms in their smartphone to connect with the users in a
deep way (Lane et al, 2017).