Innovation and New Technology | Study

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Innovation and new technology
3/22/2020
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Innovation and New Technology
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Contents
Introduction......................................................................................................................................1
What is artificial intelligence...........................................................................................................2
Objective of AI................................................................................................................................2
Use of AI in business.......................................................................................................................2
How AI help in a business information system?.............................................................................3
Influence of technological innovation and Conclusion...................................................................7
References........................................................................................................................................9

Innovation and New Technology
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Introduction
Technology plays an important role in each area of life. Whether it is education or business or
any other everyday life area, people use technology as a helping measure and rely on the same as
much as they cannot imagine doing the activities without taking assistance from technological
devices and functions. One may see new changes and updates in technology daily that is known
as technological innovation. Innovation can be understood as the development of new products
or services to improve effectiveness, competitive advantage, and efficiency. On the different
side, as the name implies, technological innovation refers to the development of new processes
and products as well as important technological changes of processes and products
(stats.oecd.org, 2020).
In recent times, many new trends in technological innovation have been developed that include
5G networks, blockchain, machine learning, internet of things, edge computing, artificial
intelligence, and autonomous devices. These current trends in technological innovation are likely
to bring ease and advantages to the business processes. These trends update the current working
styles of business positively. The objective of this report is to develop an understanding of these
current technological trends, their uses, and their significance. The trends selected for the further
discussion here are artificial intelligence, where the use of the same in the business information
system will be addressed. Lastly, the negative and positive influence of technological innovation
in business will also be discussed.

Innovation and New Technology
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What is artificial intelligence
Artificial intelligence refers to the computer system developed to mimic human intelligence and
perform many tasks such as decision-making, speech of patterns and recognition of images. AI
can perform these tasks more accurately than humans. In other words, this can be stated that AI
is a wide-ranging sector of computer science that concerned with developing smart machines
having the capacity to perform those task that appeals human intelligence (builtin.com, 2020).
The history of AI is as old as 1956 but the same recently been popular due to advanced
algorithms, increased data volumes, and improvements in storage and computing power
(sas.com, 2020). It means it took decades in developing an appropriate system of AI and in
converting the same into technological reality.
Objective of AI
Aims of AI are difficult to define but in reality that has following three goals as a minimum
 Development of computer program having the capacity of displaying intelligence
 Development of intelligent programs having the capacity to complement or supplement
human intelligence (Velik, 2012)
 Development of program, which exhibits intelligence using those, processes that human
uses for a similar type of activities.
Use of AI in business
To discuss the use of AI, this is to state that varieties of uses of AI in business are already there
and people interact with some of the forms of AI regularly. In direct as well as indirectly, AI can
mark its presence in almost every industry. This innovation is proving imperative for businesses