Innovative technologies are the ones that introduce a new concept, idea or approach. They may entail breakthrough innovations, creative models or completely unique applications. They are created to meet the needs of the latest market or help solve problems. Examples of innovative technology include 3D printing, increased reality and unnatural intelligence.

Technology enables a larger range of people to produce even more goods and services. In addition, it assists combat vital social risks and hazards. Despite the benefits, enhancements can have got negative repercussions as well.

An important concern is the fact technological innovation does not always profit those who stand to gain one of the most. It can disturb old business models and cause task losses. It may also create fresh opportunities with regards to entrepreneurs and other small businesses, but these businesses are often not able to compete with incumbent interests and have absolutely short-term product life cycles.

A variety of technological innovations currently have helped reduce energy dependence and reduce climate change. For example , alternative energy technologies are lowering costs and thus, making them more accessible. These technologies also can help protect ecosystems. Other examples of innovative technology are solar energy systems, electric battery storage, and biotechnology/genetic engineering.

Policymakers are questioned to keep pace with new development. They work within notoriously short time course and notice disproportionately from constituencies and pursuits that are hurt by innovative developments. This can bring about resistance to advancement and plans that contrain entrepreneurship. Policymakers should give attention to incentives to promote creativity and motivate the development of possible technologies.