Technology and Innovation are two words we often mention together, but the two carry different meanings.
Technology describes the application of scientific knowledge to practical purposes or industrial purposes, broadly defined to include its development, production, and use in order to achieve this for tools, machines, techniques, systems, and methods of organization.
Innovation stands for the invention of new or improved products, processes, or services. It is applied to new problems or new needs through new ideas, knowledge, and technology. Typically, it is aspired to make better use of efficiency, productivity, or enhance consumer satisfaction.
The relationship between technology and innovation is very complex and dynamic. Technology induces the widening of the constituent scope of new products or new methods of production or process, while the innovation can in turn stimulate new technology developments.
Some examples of how technology and innovation have been used to improve our lives include:
- Communication and information sharing are possible between everywhere in the world due to the internet.
- There is now a wealth of information and services right at our fingertips because of smartphone development.
- Renewable energy technologies will reduce oil dependence and indeed bring human society towards a sustainable future.
Technology and innovation are crucial to economic development, progress for human society, and quality of life; they just cannot offer us a better life, and they will continue to perform great tasks for our future.
It would be worthwhile to consider-the following points:
- Technology and innovation are usually powered by economic forces that encourage cost reduction or efficiency.
- Technology and innovation may also be propelled by social factors, such as the demand for better healthcare or education.
- The rate of technological change is accelerating and is now impacting our lives much more than before.
- We must brace ourselves for the opportunities and challenges technology and innovation may bring us in the future.
Technology:
- New releases in smartphones and tablets
- Advances in virtual and augmented reality
- Cloud computing and its effect on businesses
- Cybersecurity threats and best practices
- Growth of artificial intelligence and machine learning
Innovation:
- Advancements in healthcare and medical technology
- Renewables for sustainable energy
- Space exploration and the search for extraterrestrial life
- Progress in transportation and autonomous vehicles
- Novel materials and manufacturing methods