Abdulrahman Yarali - Intelligent Connectivity

As technology continues to grow, there are both best practices and risks that are associated with it. In this case, the best practices of the emerging technology involve efficiency whereby, since time does not stand still, there is a need to have things done quickly and accurately. New technologies are constantly changing business dynamics since people can easily interact and exchange ideas and transform their organizations. Another best practice that has been established by the presence of technological advancement is safety. In this case, industries and manufacturing sites are safer, and thus hazards that could affect peoples' health has been minimized (UN 2018). In the healthcare sector, the business has changed tremendously since different technological machinery has enhanced the diagnosis of different diseases and infections. Thus, it is easier to get cured.

Even though human habits have led to pollution and the degradation of the environment, emerging technologies are designed to improve environmental conservation (Veletsianos 2018). As a result, the inventions are eco‐friendly. In the next few decades, it is expected that inventors will continue designing technologies that are friendly to the environment as they are geared towards ecological conservation. Emerging technologies have enabled people to express their creative ideas, and they have transformed the world, especially in the business sector (Whitmire 2014). Even though there are numerous advantages associated with emerging technologies, they are posing some risks in various areas. Once an idea has been published on the internet, either positive or negative, it is difficult to remove it and can easily be traced back to the owner. As a result, some individuals can post misleading information that could impact businesses negatively (Ramey 2012). Global networks have enabled people with sinister motives to spearhead negative propaganda towards their competitors, hurting businesses. In the recent past, identity theft has been a significant issue where users cannot protect their virtual image. Therefore, even though the emerging technology has benefitted individuals and organizations, the negative issues need to be addressed so that technology advancements can be achieved successfully.

As organizations strive to adopt the best practices imposed by emerging technologies, they should ensure that they implement strategies that will help them deal with emerging technology risks. In some instances, a small organization may find it challenging to implement some emerging technologies since it could be expensive. In such scenarios, such an organization should seek opportunities to merge or lease the available technology to realize its goals and objectives (Veletsianos 2018). In the future, it is expected that due to emerging technologies, people will lose their jobs. The government should use the ideal strategies to prepare people for such changes since it could disrupt the economy. Since change is inevitable, the next two decades will present challenges to the government. A lot needs to be done to ensure that the population will remain active despite becoming displaced from employment due to technological advancements and implementation in different organizations.

Even though disruptive technologies continue to emerge and change business worldwide, various products, services, and business models are driven by these changes. The development of mobile apps has revolutionized business (Veletsianos 2018). As technology continues to disrupt business performance and their reliability, businesses can shift their performance by ensuring they have applications where employees can work and enhance their productivity. The presence of mobility has enabled employees to work from any location. These applications can track their performance, identify their weaknesses, and suggest the ideal work methods where they need to change. IoT is a disruptive technology that will continue to disrupt businesses worldwide. It is a technology that presents diverse opportunities where an organization can identify different services that can be run using connectivity powered by IoT devices. Organizations have the opportunity to focus on cloud technology since most of the organization is considering its use since it can be used to help them minimize their costs (UN 2018). Providing cloud services is expected to generate huge revenues since most organizations seek platforms to minimize their operational costs (Whitmire 2014). Another aspect that businesses could tap from disruptive technologies is business models such as digital marketing and online surveys, which can easily help organizations tap into different markets.

The banking industry has been experiencing changes in the technological world. In this case, numerous banking techs have been developed to make their banking processes easier (Ramey 2012). One of the major aspects that banks should diversify is to develop paper‐free processes where customers can apply for loans, make payments, and many other services that will save time. This will enhance the banks' performance since customers want to get services in the comfort of their homes. Due to the emergence of disruptive technologies, online shopping has been on the rise. Different stores have been developing applications and cloud services where customers can do online shopping and acquire different products. In this case, there is a need to harmonize their processes, ensure customers get ideal services, and enhance their performance at different operation levels. Even though disruptive technologies may render people jobless, they should acquire the necessary education services that will help them to adapt to change and build innovative products that will help them to keep up with the ever‐changing technological aspects. In the future, business dynamics will continue to change, and thus people should be prepared for these changes and ensure they provide reliable services at all levels of the organization (Ramey 2012).

Since technology will keep changing and growing, there is a need to establish strategies based on the organizational priorities that promote technological investments. The organization should have enough capital to focus on specific technological implementations. They should have money to run all the required processes to realize technological investments and goals. It is essential to identify employees who have the ideal skills to help the organization focus on a specific strategy and implement all the necessary processes. In many instances, lack of skills among the employees may negatively impact the organization's performance, which means that they cannot achieve the vision and mission set forth for achievement (Manyika et al. 2013). The technological achievements should be prioritized to achieve the most important goals within the shortest time possible.

The presence of digital transformation has prompted key decision‐makers in the IT industry to establish partnerships that are meant to develop solutions to various problems in businesses. While looking for solutions for various issues in the business world, alliances among the vendors are essential since it could help them establish the ideal solutions for different problems they encounter (Norton, Littmann, and Prabhu 2019). The majority of businesses seek partnerships from different vendors since they can easily increase enterprise organizations' performance. In the recent past, organizations have been forced to accelerate their digital innovations to integrate their vendor partnerships and effect an ideal transformation. Strategic partnerships enhance customer relations with the organization. Simultaneously, the executives mainly identify the opportunities for growth where they can define various joint ventures and alliances that are meant to propel them to success. In various business entities, leaders assert that 27% of their technology strategies and roadmaps are mainly driven by external events such as competition, changes in the market, and requests from their customers (Norton, Littmann, and Prabhu 2019).