Modern business is characterized by the use of advanced technology. When technology is fully utilized, it can offer significant improvements to all areas of a business’soperations and can result in efficiency improvements that allow a firm to gain a competitive advantage. Many industries fully embrace the latest technological advancements to improve their operations. The healthcare industry is often cited as a sector that relies on the latest technology to provide the best possible service to its patients and improve quality of life. In 2022, the use of nanotechnology in medicine is a prime example of incorporating the latest tech to improve outcomes. This technology is currently being used to improve treatment methods for patients with cancer, Alzheimer’s disease and other serious or life-threatening conditions. However, it is important to recognize that advanced technology can be used in a wide range of businesses and industries that operate outside the healthcare industry. In this article, five distinct types of advanced technology are discussed. They can be used in a wide range of industries to offer a range of benefits from efficiency improvements to increased workforce safety.
Robotics
The use of robotics in industry was once confined to the motor industry. In fact, factories that produce vehicles have been using robotic devices for several decades. They were first used on vehicle production lines as far back as in the 1960’s and offered a range of efficiency benefits. Robotic devices can work to an exceptionally high degree of accuracy and speed. In the automotive industry they are commonly used in the rapid and precise manufacture of car components which allows higher volumes of vehicles to be produced in any given timeframe. Robots do not need to take a break and can work at a consistent pace whilst producing identical results each time. In 2022, the use of robotics has progressed to a level where some factories now have a labor force that is entirely composed of synthetic workers. In Japan there are now vertical indoor farms that are staffed entirely by robots. Using this method of production results in energy savings and less waste involved in the production of various crops. In the footwear industry, Adidas announced in 2016 that they would be opening a factory in Atlanta that is entirely staffed by robots. This fully automated factory is used to produce a range of footwear and offers the firm a distinct competitive advantage as staffing costs are kept at a minimum, which leads to increased profit potential.
Analytics platforms
Today, many businesses from all industries harness the power of advanced analytics applications to streamline their operations and make informed business decisions that are driven by the insights gained from high quality and high-volume data. For example, in the construction and civil engineering sector, analytics platforms are a key feature of civil engineering infrastructure. Geographic information systems are commonly used to capture, store and analyze large volumes of geographic data which can then be used to create strategic business maps. Many other organizations are increasingly looking to analytics platforms and the use of big data to allow them to make more informed business decisions. In the healthcare sector many ambulance services now use analytics platforms to predict the demand of their emergency resources. By taking high volume data that relates to the location of emergency incidents and data relating to times and traffic volumes an accurate model of demand can be predicted. This allows ambulance services to position their resources in suitable locations to cope with predicted levels of service usage and perform with improved efficiency.
Drone technology
Many industries are looking to drone technology for a wide range of applications. In the manufacturing industry, many factories will use chemicals or gases that are harmful to human health. Occasionally accidents and spills do take place and previously there would have been a requirement for human staff to assess the nature, location and severity of any spill or leak. This could put the staff member at risk and would require the use of personal protective equipment to minimize the risks to human health. Thankfully, drone technology is increasingly being used in these circumstances in the world of manufacturing. When a chemical spill or leak occurs, a drone can be deployed to inspect the site and check for damage to any machinery. A human operator will control the drone from a remote location, thereby protecting the health and safety of the workforce.
3D Printing
3D printers were first invented in 1983 but have only been widely available in recent years. Today a range of 3D printers are now available for home use and are becoming increasingly affordable and useful for a range of commercial applications. 3D printers are commonly used in the architectural sector as they allow precise scale models of structures to be created quickly and cheaply. In fact, some construction companies are now using commercial 3D printing technology to design and build full size homes! Another industry that has utilized 3D printing technology to improve operations is the jewelry sector. A key benefit of 3D printing is that it allows the creation of intricate designs that are made to exact standards. This is perfectly suited to the creation of pieces of jewelry. As a result, many leading jewelry designers are making finished products entirely using the latest 3D printing methods that allow precious metals to be used in the process instead of plastics and resins.
Virtual reality
The use of virtual reality devices and platforms has been commonly associated with the videogames industry. However, the demand for this technology stretches into other industries away from entertainment. In 2022, a wide range of military organizations use VR technology to run combat simulations in a convincing, virtual environment. There are several distinct benefits of the use of VR technology in the military. Firstly, soldier safety is maximized as the need for live ammunition and physical weapons is no longer present in a simulation. In addition, it is recognized that the cost of certain military equipment can be extremely expensive with fighter jets costing tens of millions of dollars or more. By creating highly detailed VR simulations of fighter jets and running VR missions, the safety of the trainee pilot is ensured and there is less need to spend on actual training aircraft.
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