Innovation and New Technologies

This report discusses how innovative technologies have contributed to economic value and changed the business world. It covers disruptive and sustainable technologies, their applications in healthcare, and the role of innovation and technology in business. The report also highlights the risks and issues associated with technological disruption and the need for businesses to stay updated with the latest trends.

INNOVATION AND NEW
TECHNOLOGIES

Contents
Introduction.................................................................................................................................................2
Technological trends...................................................................................................................................2
Brief of technologies in terms of healthcare sector......................................................................................4
Application of robotics in healthcare sector................................................................................................4
Role of innovation and technology in business............................................................................................5
Conclusion...................................................................................................................................................7
References...................................................................................................................................................8

Introduction
This report brings out a discussion on how innovative technologies have turned the world`s face
while contributing to the economic value. Technological growth has been pacing up innovation.
With the landscape in the businesses, from large banks to small startups, technology has emerged
as an important factors in the development of business. It has accepted how it contributes to
improve value chain of company. Some of the important disruptive technologies have been
discussed are SFEG and Amazon have been undertaken to recognize regarding the technological
disruption in business. Advancement in technology brought a digital age with numerous
innovations, which will continue to change the business world accordingly (QuickBooks, 2019).
Other more illustrations include 3D printing, IT security, smart coins, big data analytics,
withings moving activity and the sleep watch, and Bose Frames Audio Sunglasses (QuickBooks,
2019). By the need of the time, technology and medicine has led to continuous advancements in
the pharmaceuticals, which have saved many lives. Smart halers is one of the main treatment for
asthma, which is effective for most of patients. In order to help asthma sufferings to better
manage the conditions, Bluetooth inhalers have developed that can record time and date of every
dose (QuickBooks, 2019). Some of the recent and value creation technology to the economic
conditions produced great disruption of business and global economy such as wireless sensor
network, 5D Printer, cloud, advanced technologies, internet of things, automotive knowledge
work, autonomous vehicles, and neuromorphic technology.
Technological trends
With the advancement of technology, it is seen that there are two major types of innovations
such as disruptive and sustainability. Disruptive technology has emerged as newly developed
technology, which has been creating more value as compared to existing technology. It has the

great potential to change the work accordingly that increase economic output. This disruptive
technology can take long time while developing the existing technologies (Rense, 2019).
 Robotic surgery- The surgery has been converted into robotic surgery that can be used for
minimal complex procedures. With augmentation realization allow the surgeons to
foresee that effective or efficient difficult situation. Further discussion in the report will
have elaborated illustrations as innovative technologies (George, 2015).
 Smart inhalers- Smart halers is one of the main treatment for asthma, which is effective
for most of patients. In order to help asthma sufferings to better manage the conditions,
Bluetooth inhalers have developed that can record time and date of every dose
(QuickBooks, 2019).
 Artificial organ- These organs are designed in such a way that where it can grow within
the nutrients of the body when it becomes mandatory to replace a faulty organ
(Templeton, Petter, French, Larsen, and Pace, 2019). The capability of the artificial heart
is to supply blood and pump it, which is not rejected by body`s immune system. It can be
revolutionary that could save millions of patients depending life transplanting each year
(Chen, Zhang, and Guo, 2016).
 Financial services through digitalization- Disruptive innovation can improve the related
products to optimum consumer choice and become critical leaders while understanding
technological events, implementation of technologies, and building of the technical
proficiency and finally gain advantage through a way in managing the company (Rense,
2019). Increase in technological advancement needs not be disruptive every time as
technology changes the landscape of financial services in the rural Africa (GTconsults,
2019). Starting from the smallest fintechs and financial service providers have been

gearing up the world`s where money has renowned as digital money. Rapid undertaking
of the mobile money at the landscape of unbundling that financial services have been
currently through (George, 2015). For instance- fund has been supporting partnership
between an asset company and the entrepreneurial lab in order to create psychometric
credit scoring as their tool for the smallholder borrowers with no and the limited verified
credit data. This is technological enabled solution for specific challenge till how it is
estimated regarding the likelihood of the repayment for data light environment, which
will ultimately reduce the costs and effectiveness (GTconsults, 2019).
Brief of technologies in terms of healthcare sector
This disruption has enabled its used in healthcare check-ups, machine conditioning, and landslide
detection, monitoring the water quality, and the forest fire detection. This severe disruptive
technology has enabled added value to the business models, economies, and people. With the
advent of internet and it’s making of blueprint product with at the place that has been replicated
by the 5D printers (Killian, Dickopf, Haas, Kirstenpfad, Mayer, and Brinkmann, 2017). Additive
manufacturer reroute the enabling of the programs and the fabrication of the synthetic
microstructures under the five dimensional spacious designs (Millar, Lockett, and Ladd, 2018).
 Other than the 3D shaping of the additive producing with a design space including local
control of the composition and the particle orientation (Rense, 2019).
Application of robotics in healthcare sector
Collecting data at the point of origin and the receipt in the company that can allow many tactical
advantages such as enhancing and improving accessibility to data, with the usage of big data in
order to enhance the procedure of Bid data, and the integrating the company`s system (Rense,
2019). Advanced robotics has been increasingly making capable robots and mechanical

instruments, knowledge, and with the improved ability (Huang, 2018). Innovation can lead to
astonishing benefit to the society with the inclusive of mechanical frameworks, which will make
the methodology less attractive, restoring the elements of elderly people, automated prosthetics
and exoskeletons (Millar, Lockett, and Ladd, 2018). The use of the computer hardware and other
resourceful things while delivering the convenient, services, and the on demand network
accessibility while sharing the pool of the configurability the computer devices (Killian, Dickopf,
Haas, Kirstenpfad, Mayer, and Brinkmann, 2017).
Role of innovation and technology in business
On the other hand, the issue of disruption plays a significant role in determining negative aspects
of technological disruption leading to the maximum risks (Miller, and Gut, 2015). In 2017,
disruptive technology has been surrounded by expanse issues looking at the Excellence regarding
the risk management. Businesses and the individuals are so much concerned regarding the risks
and issues that do not manage properly while determining the use of disruptive technology
(Miller, and Gut, 2015). Companies’ report which will not bring try understanding of
requirements and other executives, which already has been using the disruptive technology of
one type. One major issue is regarding the cyber issue is it is new form of crime that prompt may
people to run and shout out where the internet is and Skynet of terminator movie franchise.
Cyber criminals are quite smart and relentless that bulk up cyber security protocols approaching
in the right way. Many countries have begun to incorporate cyber abilities in the tools of the craft
where it has recognized high end players such as China, Great Britain, and Russia.
With the combination of data handling, many bad people found more effective way to disrupt
and hamper the technology and spread it in the entire business processes. Business leaders have
adequate technology of the upcoming and trending technology to prevent the business and

corporates from side effects of technology and benefit themselves from the same level (Millar,
Lockett, and Ladd, 2018). Further, business leaders disrupt themselves before the technology
exploit the needs and wants of business. During the age of information technology and the
artificial intelligence where the company is a technological company (Millar, Lockett, and Ladd,
2018). Organizations often look for building the partnership supplementing the strengths. E-
commerce industry have been aggressively including themselves in acquisition and mergers in
order to increase the spectrum of organizations (Snyder, and Chang, 2019). Supply side
economics might be converted with their willingness of manufacturer in order to create the
services and goods setting up the pace regarding the economic growth by replacing the demand
side. Supply side can be manipulated with the application of disruptive technology that can help
in production of goods and services in maximum quantity so that they could meet the demands of
growing populations (Millar, Lockett, and Ladd, 2018).
This cloud can avail and prove to have immense helpful in the big data analytics with the mobile
computing while comparing it to the traditional alternatives of IT infrastructure. Increasingly
cheap, computing gadgets, and the mobile with the assistance of internet network has
increasingly advantageous in every sector. E-commerce industry has improved the effectiveness
of the organization activities and adding it to the value of the life of people. The digitalization
will enable the issues and projects with the processes to increasingly manage the data in a digital
form whether the data is just derived or it has already been converted to the hardcopy (Huang,
2018). Disruptive technology will manage the automated industry and machines which can
assume the position of person in a hazardous situations and the manufacturing procedures where
they look like humans but these robots can carry out certain tasks that is quite complex,
hazardous for the people around as this leads to lower the demand of human capital (especially

the labor) (Chen, Zhang, and Guo, 2016). Disruptive innovation has already improved the
healthcare sector by availing them variety of medicines and other enabled surgery steps and
equipment (Templeton, Petter, French, Larsen, and Pace, 2019).
Regular advancements in the pharmaceutical with the medical field that has already saved
millions of lives and improvements. The company has undertaken 3D notch and bio printing,
which are the emerging medical technology (Templeton, Petter, French, Larsen, and Pace, 2019).
The innovation has led to regenerate skin cells for the skin burns which will slowly to more
exciting probabilities. Scientists have enabled to the creation of synthetic heart, ovaries,
pancreas, and its blood vessels. This organ made through technology is an eye opener through
the assistance of disruption innovation and technology. Demand for the wearable healthcare
products have been increased due to its feasibility and its flexibility to use it. Renewable sources,
such as the sun, rain, and the tides waves are put to use with an aim to produce electricity
subsequent in lessening of damaging climate effect. Advantages of renewable electricity includes
ecological welfares, dependable energy source, financial benefits, soothed energy prices etc. This
disruptive technology will be able to aid corporates in cutting the costs and improve the
competence.
Conclusion
While relating to the industrial growth and pacing, it is seen that technology affect the better
efficiency of the organization. Business leaders can keep the company`s techniques as upgraded
in the development of technology by guarantee where their combination and association while
looking ahead with the use of technology in the enhancement of the internal performance.
Disruptive innovation can lead to diversification in the company by making total new products
and its additional movement and pooling of the worth between the purchasers and producers.

Illustrations are the best way to support the trends where sensor network has checked the mood
which have made it feasible to set and check environmental and physical conditions covering
sound, pressure and temperature. That can pass their data with the help of network to the main
location.

References
QuickBooks, (2019) Top 10 New Technologies That Will Change Small Business. Available on:
https://quickbooks.intuit.com/r/technology-and-security/top-10-new-technologies-will-change-
small-business/ [Accessed on: 8/04/2019]
Rense, S., (2019) The 15 Coolest New Gadgets to Come Out This Year. Available on:
https://www.esquire.com/lifestyle/g25891194/cool-new-tech-gadgets-2019/ [Accessed on:
8/04/2019]
GTconsults, (2019) The Pros and Cons of Innovation: Are we disrupting the force? Available on:
https://www.gtconsult.com/pros-and-cons-of-innovation/ [Accessed on: 8/04/2019]
Chen, C., Zhang, J. and Guo, R.S., 2016. The D-Day, V-Day, and bleak days of a disruptive
technology: A new model for ex-ante evaluation of the timing of technology
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Templeton, G.F., Petter, S., French, A.M., Larsen, K.R. and Pace, B., 2019. Information
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George, L., 2015. 12. Digital technology, disruption and the market for news. Handbook on the
Economics of the Media, 259.
Miller, J.R. and Gut, L.J., 2015. Mating disruption for the 21st century: matching technology
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Huang, Y., 2018. Destination marketing: Approaches to improve productivity in an era of
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Killian, T., Dickopf, S., Haas, A.K., Kirstenpfad, C., Mayer, K. and Brinkmann, U., 2017.
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