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 INTRODUCTION

With the ramified economic changes, IT and innovation has been gaining momentum this report reflects the implication of the Innovation in IT. The term innovation is defined as the continuous improvements and modifications in the existing products/services of a business for gaining the competitive edge and quickly adapting to the changes occurred by the internal and external threats such as- increased competition, poor management team, poor planning, change in the policies, political disturbances, technological up-gradation hence, to overcome and mitigate these threats the businesses must continuously improve its existing products and services and thereby gain a competitive edge and market share.
 
Instance-
Tetra Pak continuous innovation strategy by the founder Ruben continuously invests in improving the quality of its existing dairy products. Recently, the Tetra Pak company launched its product namely Tetra Fino Aseptic that offered the customers in producing the liquid dairy and drinks with the help of existing processes of the production and then sell them as the frozen and cream products. Hence, Tetra Fino Aseptic is produced and delivered in the compact pouches that revolve as the preserved products to its customers. Hence, the unique and easy packaging of Tetra Pak dairy products and continuous innovation is reflected in its success story. On the other hand, the business uses various forms of innovation for instance- radical innovation, disruptive innovation, architectural innovation and incremental innovation for developing the goods/services either in the home market or the different market to give a cut-throat competition and capture the market share. The biggest demerit a business could have through innovation is the disruption of the existing business through its competitors for instance- the mainframe computers were disrupted by smartphones, similarly, in context with businesses, the entertainment industry disrupted by Netflix, the skype and Orkut are also examples of disruption.
 
TECHNOLOGICAL INNOVATION
Technological innovation is a broad concept that involves experimentation with IT workers/providers assistance at cost-efficacy and reduced risks that leads to the creative and innovative techniques of accessing the technology for delivering the goods/services of a business. Technological innovation is a vital and effective tool that gives competitive strength and profitability to one's business. For instance- implementation of artificial intelligence {AI] in business for streamlining the process of production and eradicating the wastes- over-processing, transportation cost, and delays. Moreover, technological innovation by a business assists in disrupting the competitive business hence, giving a cut-throat competition to its competitors.
A current example of technological innovation includes- IoT namely the internet of things that were invented by Kevin drives business flexibility by producing data required for improving the market and increased sales thereby reducing the costs. Another example includes- renewable resources in which there exists the concentrated cosmic power, hydroelectricity, and wind energy (Zhang, & Gallagher, 2016). Therefore, the business adapts the installation of the solar panels, wind energy for strengthening their business operations hence, the businesses choose the technological innovation to stay in the game, reduce the carbon emission and saving their costs as fuel and oil are relatively high-priced. Recently, the company based in British namely Barclays declared that it will achieve zero-carbon emission hence, adopting and implementing technological innovation. Hence, it can be said that technological innovation assists in business efficacy, increased customer values, improved production process, cost-reduction, competitive advantage and transmission of information promptly worldwide (Mostaghel, 2016).
 
CURRENT TECHNOLOGICAL TRENDS IN BUSINESS
CTT namely the current technological trends refers to the emerging and evolving technology to cope up with the present and future threats hence, it cannot be denied that the technology is getting advanced, therefore, there exist persistent changes in the technological trends. Hence, the business invests in adapting the latest technologies for remaining competitive in the market and ensuring smooth business operations. Therefore, if there is something that is going to change in the present and future years will be technological changes for providing fast services, improved quality, and smooth functioning worldwide (Huang, et al. 2016). For example- business is shifting to artificial intelligence, IoT- the internet of things, the innovation of 5G quantum and cloud computing. On the other hand, the business adopting the current and advanced technology assist in cost-saving, fast operations, prompt exchange of data/information to its employees and customers whenever needed and gaining a competitive advantage in the competitive market. On the other hand, there exist several risks associated with the business such as – cyberattack, noncompliance of systems- software, poor network, and malware, therefore, the confidentiality of the business data is a point of concern for preventing the external threats that may portray a bad or false image of one's business.
 
EMERGING TECHNOLOGICAL TRENDS IN BUSINESS
ETT namely emerging technology trends refers to the technological development and practical applicability that possesses an unfavorable consequence as they representatively emerge in eminence from anonymity, therefore, the emerging technologies are recognized as changing the existing situations/conditions. From a business point of view, the emerging technologies are reinventing the process of doing the business for instance- the intelligent enterprises are developing different ways of achieving the goals and objectives of a business as well as benefitting the customers and society (Bousquet, et al. 2018). Hence, with emerging technological trends the business assists in protecting their financial data, securing the private executive decision and gaining the competitive advantage with the help of emergent technologies such as hyper-automation, the digital ecosystem and developed AI namely- artificial intelligence (Phillips, 2018). Moreover, there exist several potential risks associated with businesses such as- the geopolitical factor, IoT device risks, and crypto-jacking program. Hence, the business must look up for confidentiality of information to prevent such losses which could harm the health of a business by stealing the confidential data through cyber-attack and steal profits/business amount through hacking of the bank details. 
 
EXAMPLES
Following are the current and emerging technology trends based on technological innovation-
 
The era of the DARQ Age
The DARQ age namely distributed ledgers or block chain, AI- Artificial intelligence, extended reality, and quantum computing are the vital technological and emerging trends for handling the complexity of the system is present as well as the future. Several businesses have recently adopted these technological innovation systems for gaining a competitive advantage and generating huge revenues in the global market (Stanko, & Henard, 2016).  For instance- The automaker company namely Volkswagen based in Germany recently invested in technological innovation namely quantum computing and adopted it this year for introspecting and ascertaining the congestion flow escalation and speeding up the battery acceleration. Moreover, the Volkswagen tested the block chain for automated payments assistance in gas stations area, creating the tamper-resistant demister and protection of Volkswagen's cars from the malware and hackers. Hence, it can be said that the business must prioritize DARQ for staying in the game and surviving in the long run in the competitive market. On the other hand, Volkswagen also employs artificial intelligence commands/directions for assisting the service workers in vehicle restoration (Ivanova, et al. 2019). Hence, the Volkswagen implied the DARQ excluding the extended reality as the way of accepting and following the current technological trends that will assist in gaining the competitive advantage from its competitors.
 
CURRENT AND EMERGING TECHNOLOGICAL TRENDS IN TECHNOLOGICAL INNOVATION
 
The artificial intelligence-
It is defined as the counterfeit of the processes of human intelligence with the help of machines and robotics such as – computers and AI includes NLP which stands for the natural language process and the specialist system, the speech identification and device innovation (Ungureanu, Pop, & Ungureanu, 2016). From a business point of view, the AI system assist in the processing of relevant data/information promptly and accurately as compared to the human possibilities in which an individual cannot obtain and transform voluminous data at a time and rectification of the errors will be a costly affair in terms of time and efforts hence, the automated system reduced the paperwork, improved the performances, fast operations and enhanced decision making in a business. On the other hand, the machine system promptly gathers the data and transforms them into the potential and actionable data/ information in the business. On the other hand, the major disadvantage in AI is the cost factor as accessing the AI for processing voluminous data is a costly affair required by the AI system. Although the AI system is used for operating the specific tasks in the business for example- robotics and virtual assistants like Siri by Apple is proved to be a weak usage of AI (Millar, Lockett, & Ladd, 2018).  Yet, it cannot be denied that the AI has given ranges of operations for a business to perform its operational activities quickly and effectively. Therefore, various businesses use this current technological system as a technological innovation for gaining a competitive edge in the market and quickly adapting to the changes arising out of the external threats. Nonetheless, the AI is current and adopted by many businesses for instance- Volkswagen employs the artificial intelligence commands/directions for assisting the service workers in vehicle restoration. Moreover, the AI system is likely to have the greatest impact {40} compared to the other technological trends as depicted in the above diagram. Moreover, it cannot be denied that computer vision under the AI system will assist manufacturing technology for instance- Kindred US recently started using the AI system for automation for the clothing brands namely GAP. On the other hand, Vicarious US attracted investment from Elon and Zuckerberg (Yu, Qian. & Du, 2017).
 
 
 ARTIFICIAL INTELLIGENCE 
 
The artificial ledger or block chain-
The emerging technology namely the block chain is a system of information that enables the transparency in the expedition of the materials from its origin to the end- product. The block chain technological innovation is currently introduced which has transformed digital trends through resiliency, protection, and efficacy of the system. On the other hand, the block chain assists in the distribution of the digital data/information without even copying hence, it changed the perception of how the digital world perceived earlier and works as a backbone of brand new network type (Flavin, & Quintero, 2018).  From a business point of view, the artificial ledgers or the block chain gives the major advantages for instance- transparency, verification, protection and an unchanged ledger that promptly changes the process of auditing effectively saving the costs and maintaining trust in the usage of data. On the other hand, there also exists the federated block chain which is an updated block chain model in which there occurs the more private and customized ledger and more than one organization/authorities can command the early selected block chain nodes although validation is done before proceeding the block chain system. On the other hand, the Volkswagen also tested block chain for automated payments assistance in gas stations area, creating the tamper-resistant demister and protection of Volkswagen's cars from the malware and hackers (Zawislak, et al. 2017).
 
       
                                        
 
Conclusion
It can be concluded that innovation is a catalyst for business and economic development in the long run for instance- Tetra Pak continuous innovation assisted it in staying in the game and generating huge profits. Moreover, the emerging and current technological trends for instance- Artificial intelligence and block chain enhances smooth, accurate and fast operations of a business hence, adopting these trends as innovation strategy and gaining competitive edge must be the priority of a business that will mark its success.  Moreover, the negative aspect or threats involved in technological innovation is a cyber-threat, disruption and poor network availability that will fail automated operations.  For instance- skype and Orkut are under the category of disruption therefore, the technological innovation disrupts the existing industry and gains the market share. As for society, it had a great impact as they are adopting the automated systems for billing, payments and gathering information digitally. 
 
 
 
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