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Productivity-improving technologies date back to antiquity, with rather slow progress until the late Middle Ages. Important examples of early to medieval European technology include the water wheel, the horse collar, the spinning wheel, the three-field system (after 1500 the four-field system—see crop rotation) and the blast furnace.
"Technology innovation" gives a sense of working on technology for the sake of technology. "Technological innovation" better reflects the business consideration of improving business value by working on technological aspects of the product or services. These advancements would show improvement for the business's that adapt to this new technology.
In futures studies and the history of technology, accelerating change is the observed exponential nature of the rate of technological change in recent history, which may suggest faster and more profound change in the future and may or may not be accompanied by equally profound social and cultural change.
A technological revolution can be distinguished from a random collection of technology systems by two features: 1. A strong interconnectedness and interdependence of the participating systems in their technologies and markets. 2. A potential capacity to greatly affect the rest of the economy (and eventually society). [2]
A decade later, with AI more prevalent than ever, Professor Bostrom has decided to explore what will happen if things go right; if AI is beneficial and succeeds in improving our lives without ...
Technological change (TC) or technological development is the overall process of invention, innovation and diffusion of technology or processes. [1] [2] In essence, technological change covers the invention of technologies (including processes) and their commercialization or release as open source via research and development (producing emerging technologies), the continual improvement of ...
Based on their survey, Baragheh et al. attempted to formulate a multidisciplinary definition and arrived at the following: "Innovation is the multi-stage process whereby organizations transform ideas into new/improved products, service or processes, in order to advance, compete and differentiate themselves successfully in their marketplace" [8]
Democratization of technology refers to the process by which access to technology rapidly extends to an ever-broader audience, especially from a select group of people to the average public. New technologies and improved user experiences have empowered those outside of the technical industry to access and use technological products and services.