What Is Emerging Technology?
Updated By Staff Writer on October 2, 2020
The term “emerging technology” has been growing in popularity, particularly in the IT and academic world. However, emerging technology is relative as someone may see a technology as emerging, and others may not see it the same way. Additionally, this term takes on different meanings depending on the industry. For example, professionals in IT will view it drastically different than someone immersed in social media or medicine.
So what is emerging technology? While there is no universal definition of emerging technology, BusinessDictionary.com defines the concept as a new technology that is currently being developed or will be developed within the next five to ten years. Finally, this term applies to technologies that are currently creating or will create lasting economic or social effects.
Examples of Emerging Technology
For a technology to be classified as emerging, it is characterized by rapid growth, impact, radical novelty, coherence, and, sometimes, uncertainty and ambiguity.
Examples of emerging technology can include:
- Artificial intelligence (AI)
- Gene therapy
- 3D printing
- Cancer vaccines
- In vitro meat
- Medical field advancements
- Stem-cell therapy
- Distributed ledger technology
- And more
Each of these emerging technologies has the potential to create a significant competitive advantage for businesses in the near future. For example, artificial intelligence can be used in many different industries, including IT, medicine, finance, and more. This technology is making our smartphones smarter, providing deeper, more valuable insight into data, and making cloud-based tools more efficient. In terms of impact, this technology has the power to change the way we work.
AI is just one example of emerging technology. The global positioning system (GPS) is another notable example of new technology. We use it in every part of our lives. When we get into our cars, an aircraft, or even the local commuter train, GPS plays an important role. It not only gets us where we want to go, but it also provides information that keeps us safe by tracking the movements of other vehicles and providing accurate time and distance information.
Consider also MP3s, a technology that has eliminated the need to store vast amounts of physical media in our homes. Medical prosthetics have evolved to benefit our returning wounded servicemen and women. These advancements have created miniaturization and lighter materials that are easier to produce and are more affordable. Each of these new technologies has transformed the way we live, and as more continue to emerge, our world will continue to change.
The Importance of Emerging Technology
Emerging technology can change the way we do business, making our world smarter, more efficient, and safer. While the invention of the computer, telephone, and internet has transformed the way we communicate with each other and how we do business, emerging technology seeks to further those advancements to further benefit both businesses and citizens.
In using these emerging technologies, not only can we find a better way to do business, but we can also create a safer, healthier world. For example, the US Department of Transportation is currently looking into vehicle-to-vehicle communication to help drivers communicate with each other and warn of hazardous road conditions. They hope this technology will reduce the number of car accidents on US roads. In the medical world, emerging technologies can help diagnose illness faster or help cancer patients receive better care. Finally, many new technologies are being used for environmental conservation. We can now use technology to create eco-friendly automobiles, beauty products, light bulbs, cleaning products, and more.
Harnessing the power of emerging technology can allow us to drive economic growth and gain valuable insight into how to make our world a safer, healthier, and more efficient place.
Immerse Yourself in the World of Emerging Technology at Independence University
At Independence University, we offer technology degrees that can prepare you for a successful career. Whether you’re interested in building new software or mobile apps, or you want to learn how to fight cybercrimes, a degree from Independence University can start you on the path to success. Learn more about how a technology degree from our school can help you start or transform your career in technology.