What are Emerging Technologies?

There is no unanimity on the definitions. You will hear this repeatedly in different contexts in this course.

Emerging technologies form the vanguard of human innovation, taking us into uncharted territories where the possible boundaries are continually redefined. These technologies need not be new but should have continuing relevance and promise. The Internet, Enterprise Resource Planning Systems, and Social Media were all emerging technologies at one point or another. As these technologies mature and become standard operating procedures in the business world, they are no longer emerging. Emerging technologies are in the development and experimentation stage and have yet to have a finalized architecture in a fragmented industry. These technologies have the potential to create new industries or transform existing ones. The multiple perspectives on emerging technologies are given below.

• Technological Innovation Perspective: Emerging technologies are often seen as innovations or advancements that represent significant progress beyond the current state of the art. These could be artificial intelligence, biotechnology, nanotechnology, or renewable energy breakthroughs.
• Business and Market Perspective: From a business standpoint, emerging technologies can disrupt existing markets or create new ones. Companies may focus on adopting and investing in emerging technologies to gain a competitive edge.
• Research and Development Perspective: In the context of research and development, emerging technologies are often associated with cutting-edge scientific and technological discoveries. These may include experimental technologies that are not yet widely adopted but show promise in laboratories and research settings.
• Cultural and Societal Perspective: Emerging technologies can also be viewed in terms of their impact on society and culture. This perspective considers how new technologies shape human behavior, relationships, and societal structures. Examples include social media, virtual reality, and wearable devices.
• Policy and Regulation Perspective: Policymakers and regulatory bodies may define emerging technologies based on the need for governance and oversight. This perspective focuses on identifying technologies that require new regulations to ensure ethical use, safety, and compliance with legal standards.
• Disruptive Innovation Perspective: From the theory of disruptive innovation, emerging technologies are often associated with innovations that have the potential to disrupt established industries and business models. This perspective emphasizes the transformative impact of specific technologies.
• Adoption and Diffusion Perspective: Emerging technologies can be defined based on their stage in the adoption and diffusion curve. This perspective considers how quickly a technology is being adopted by individuals, organizations, or societies.
• Futurist and Speculative Perspective: Futurists may speculatively define emerging technologies, envisioning how certain advancements could shape the future. This perspective often involves considering the potential long-term consequences and applications of technologies.
• Environmental and Sustainability Perspective: Some definitions of emerging technologies assess their environmental impact and sustainability. This perspective considers technologies contributing to environmental conservation, resource efficiency, and sustainable development.
• Global and Cross-Cultural Perspective: The definition of emerging technologies can vary across different regions and cultures. What is considered an emerging technology in one part of the world may be well-established in another.

This course will primarily focus on emerging technologies in the information technology area from the business, market, and disruptive innovation perspectives, especially on emerging technologies' operational and strategic effects on businesses. We are not as interested in the how of IT tools but more in the why and for what. Internal operations, external trading partner relationships, and strategic orientations, among other things, have repeatedly changed under the relentless march of IT/emerging technologies. New industries have developed almost overnight, sometimes destroying the established order and ushering in rapid change. The hype and hysteria of the dotcom/social media/blockchain/big data/AI boom (and busts, in more cases), the evolution of many business models, messy markets, brilliant innovators, greedy investors, and occasional success stories taught us interesting lessons. But do they tell us anything about the future, the paths to choose and avoid?

The problems developing the course in this area are:

• Rapid Technological Advancements: The speed at which emerging technologies evolve is a significant challenge. New developments can occur during the course development phase, making maintaining up-to-date content challenging and ensuring the course remains relevant.
• Interdisciplinary Nature: Emerging technologies often cut across multiple disciplines, requiring an interdisciplinary approach. Developing a course that adequately addresses the diverse aspects of these technologies can be complex, requiring understanding and knowledge of different fields.
• Lack of Established Pedagogy: As emerging technologies are, by definition, at the forefront of innovation, there may not be well-established pedagogical frameworks. Instructors may struggle to find effective teaching methods and resources, and assessment criteria may need continuous refinement.
• Diversity of Technologies: The term emerging technologies encompasses a broad range of fields, including artificial intelligence, blockchain, biotechnology, and more. Designing a course that adequately covers diverse technologies while maintaining depth and coherence can be challenging.
• Ethical Considerations: Emerging technologies often raise ethical questions and concerns. Designing a course that explores the technical aspects and addresses the ethical implications and societal impact of these technologies requires careful consideration and expertise.
• Access to Resources: Staying current with the latest technologies requires access to cutting-edge software, hardware, and relevant literature. Additionally, access to these resources does not guarantee that you can study and learn all the new technologies and skills.
• Skill Gaps: Teaching emerging technologies may reveal skill gaps among instructors and students. Instructors may need to update their skills continually, and students may find it challenging to keep up with the fast-paced technological changes.
• Uncertainty in Industry Needs: The rapidly evolving nature of emerging technologies makes predicting the specific skills and knowledge in demand difficult. Courses may need to balance providing foundational knowledge and fostering adaptability.
• Inclusion of Practical Applications: Many emerging technologies are best learned through hands-on experience. Designing a course incorporating practical applications, labs, or projects can be challenging.
• Evaluation and Assessment: Traditional assessment methods may not be suitable for evaluating students' understanding of emerging technologies, often requiring creative problem-solving and critical thinking. Developing effective evaluation methods that capture the complexity of these technologies can be a significant challenge.

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