Paper – How New Technologies Are Impacting Business ✓ Solved

Paper – How New Technologies are Making an Impact on Busines

Paper – How New Technologies are Making an Impact on Businesses This paper is focused on the role of new technologies and how they impact business operations and decisions. This is a research paper, so you need to have references in APA style. Your paper should be at least 3500 words, and at a minimum discuss the following topics: Three different and new/emerging technologies: introduce the technologies; how are they being used (or how they will be used); what are their potential for users and businesses. Impacts on business operations, decisions, sales, etc.: positive & negative. Impact on executives, employees, customers, humans, etc.: positive & negative.

Paper For Above Instructions

Introduction

New technologies are reshaping how firms operate, decide, and compete. This paper examines three emerging technologies—artificial intelligence (AI), the Internet of Things (IoT), and augmented reality (AR)—describing each technology, current and prospective business uses, and their potential benefits. The discussion then analyzes positive and negative impacts on business operations, decisions, sales, and key stakeholders including executives, employees, customers, and society.

Technology 1: Artificial Intelligence (AI)

Introduction and Current Uses

AI refers to systems that perform tasks that normally require human intelligence, including prediction, classification, and automation (Davenport & Ronanki, 2018). Businesses use AI for demand forecasting, customer service chatbots, fraud detection, personalized marketing, and process automation (PwC, 2018).

Potential for Users and Businesses

AI can improve decision quality by surfacing patterns from large datasets, reduce operational costs through automation, and enable hyper-personalized customer experiences (Brynjolfsson & McAfee, 2014; Manyika et al., 2017). In service industries, AI-driven recommendation systems and virtual assistants can increase conversion rates and lifetime value.

Technology 2: Internet of Things (IoT)

Introduction and Current Uses

IoT connects physical objects to the internet to collect and exchange data. Applications include predictive maintenance in manufacturing, supply-chain visibility, smart building management, and connected consumer products (Porter & Heppelmann, 2015; IDC, 2019).

Potential for Users and Businesses

IoT enables continuous monitoring and optimization, reducing downtime and inventory costs while improving customer service through real-time tracking (IDC, 2019). For consumers, IoT offers convenience and contextualized services, such as smart home automation and personalized health monitoring.

Technology 3: Augmented Reality (AR)

Introduction and Current Uses

AR overlays digital content onto the physical environment, enhancing perception and interaction (Carmigniani & Furht, 2011). Retailers use AR for virtual try-ons and product visualization; field service organizations use AR for remote guidance and training (Poushneh & Vasquez-Parraga, 2017).

Potential for Users and Businesses

AR can shorten purchase decision cycles by allowing customers to preview products in context, increase conversion rates, and improve training efficiency for complex tasks through on-site visual instructions (Poushneh & Vasquez-Parraga, 2017).

Impacts on Business Operations and Decisions

Positive Impacts

These technologies together drive efficiency and data-driven decision making. AI optimizes pricing, inventory, and marketing spend (Manyika et al., 2017). IoT provides real-time inputs that improve process control and logistics (Porter & Heppelmann, 2015). AR enhances customer engagement and reduces returns in e-commerce (Poushneh & Vasquez-Parraga, 2017). Collectively, firms can shorten innovation cycles and scale personalized services.

Negative Impacts

Risks include overreliance on automated decisions that may embed biases, high initial investment costs, integration complexity with legacy systems, and cybersecurity vulnerabilities—particularly for IoT deployments (Roman, Zhou, & Lopez, 2013). Poorly implemented AR or AI can degrade customer trust if experiences are inaccurate or intrusive (Davenport & Ronanki, 2018).

Impacts on Sales and Market Strategy

AI-driven personalization and AR-enhanced product demonstrations can increase conversion and average order value (PwC, 2018; Poushneh & Vasquez-Parraga, 2017). IoT-enabled after-sales services (predictive maintenance, usage-based offerings) open new recurring revenue streams and foster deeper customer relationships (Porter & Heppelmann, 2015). However, firms must balance data monetization with privacy expectations; misuse of customer data risks regulatory penalties and reputational harm (Roman et al., 2013).

Impacts on Executives, Employees, Customers, and Society

Executives

Executives gain richer analytics for strategic planning but face new responsibilities for technology governance, ethics, and workforce transition strategies (Brynjolfsson & McAfee, 2014). Leaders must invest in digital talent and change management to capture value (Manyika et al., 2017).

Employees

AI and automation can displace routine tasks but also create higher-value roles focused on oversight, interpretation, and creative problem solving. IoT and AR can augment worker productivity through better information and remote assistance (Porter & Heppelmann, 2015). Retraining and reskilling are critical to minimize displacement impacts (PwC, 2018).

Customers

Customers benefit from more personalized, convenient, and proactive services. Yet there are concerns about privacy, algorithmic fairness, and loss of human touch in high-empathy contexts (Davenport & Ronanki, 2018).

Broader Human and Societal Impacts

On the societal level, these technologies can raise productivity and create new industries, but may widen inequality if access to digital skills and technology capital is uneven (Brynjolfsson & McAfee, 2014). Regulatory frameworks and ethical standards will shape how benefits are distributed.

Implementation Considerations and Best Practices

To realize benefits and mitigate harms, organizations should: (1) start with business problems rather than technology, (2) ensure data quality and governance, (3) prioritize cybersecurity in IoT deployments, (4) design transparent AI models and human-in-the-loop reviews, and (5) invest in workforce reskilling and clear ethical guidelines (Davenport & Ronanki, 2018; Roman et al., 2013).

Conclusion

AI, IoT, and AR each offer powerful levers to transform business operations, decision-making, sales, and stakeholder experiences. The upside includes efficiency gains, new revenue models, and improved customer engagement; the downside includes privacy, security, workforce disruption, and governance challenges. Firms that pair technical adoption with strong governance, employee development, and customer-centric design are best positioned to capture sustainable value (Porter & Heppelmann, 2015; PwC, 2018).

References

  • Brynjolfsson, E., & McAfee, A. (2014). The Second Machine Age: Work, Progress, and Prosperity in a Time of Brilliant Technologies. W. W. Norton & Company.
  • Carmigniani, J., & Furht, B. (2011). Augmented reality: an overview. In B. Furht (Ed.), Handbook of Augmented Reality (pp. 3–46). Springer.
  • Davenport, T. H., & Ronanki, R. (2018). Artificial intelligence for the real world. Harvard Business Review, 96(1), 108–116.
  • IDC. (2019). Worldwide Internet of Things Forecast. International Data Corporation.
  • Porter, M. E., & Heppelmann, J. E. (2015). How smart, connected products are transforming competition. Harvard Business Review, 93(10), 96–114.
  • Poushneh, A., & Vasquez-Parraga, A. Z. (2017). Discernible impact of augmented reality on retail: factors influencing customer’s experience and satisfaction. Journal of Retailing and Consumer Services, 34, 229–234.
  • PwC. (2018). Sizing the prize: What’s the real value of AI for your business and how can you capitalise? PricewaterhouseCoopers.
  • Roman, R., Zhou, J., & Lopez, J. (2013). On the features and challenges of security and privacy in distributed Internet of Things. Computer Networks, 57(10), 2266–2279.
  • Gartner. (2020). Top strategic technology trends for 2020. Gartner, Inc.

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