Technological Innovation

Definition

Technological innovation refers to the creation and development of new technologies or improvements on existing ones. It involves applying scientific knowledge and creativity to invent solutions that enhance efficiency, productivity, convenience, or quality of life.

Related terms

Digitalization: Digitalization is the process of converting analog information into digital form using technology. It enables data storage, analysis, communication, automation, and other digital capabilities.

Artificial Intelligence (AI): AI refers to computer systems designed to perform tasks that typically require human intelligence. These systems can learn from experience, recognize patterns, make decisions autonomously or assist humans in decision-making processes.

Internet of Things (IoT): IoT refers to the network of physical devices, vehicles, appliances, and other objects embedded with sensors, software, and connectivity. It allows these objects to collect and exchange data, enabling automation and smart functionalities.