How Technology Innovation Aids Globalization

IT WRITE-UP

How technology innovation have aided the globalization process
Technological changes in terms innovations can lead to change in the economic structure by
creating immense transformations in such a way that when companies organise to produce
goods, trade them, develop new products, and trade goods. Modern ITs allow the instant
communication in the operations of the global companies lead to the manufacturing of new
materials (Paus, 2019). New creative material from the revolutionising the sectors led to
diversification in the communication and constructions. From the data revealed in several
journals, it is seen that advancement in manufacturing technologies changed the pattern of
employment as well as the way of production. All the actions related to technology impose
greater interdependence among the nations. Some of the technology, which promotes
innovation, are robotics assistant, regenerative medicine, crypto currency, driverless vehicles,
augmented mixed reality, reusable rockets, artificial automation and intelligence, and
quantum computation. Technological innovation development process includes research and
development stage, ascent, maturity, and decline. These technologies are adopted according
to the five main demographics such as early adopters, laggards, innovators, late majority, and
early adopters. Most of the companies are trying to adopt main six technologies such as
Block chain, 3D printers, self-driving cars that can turn their business towards growth (Paus,
2019). It is often said that fast technological adaption and proliferation of the organisations
have driven the national concerns in order to maintain the competitive advantage, and also
the comparative advantage. The four main objectives that revolve around technology are
finding and discussing the main driving technologies of the recent era such as information,
materials, and the manufacturing. Examination of the technological advances has been
transforming the industrial sectors such as construction and telecommunication. Further it is
an explanation of the way where global economy has been affected by technology and the
production with the factors known as finance markets, marketing strategies, and intellectual