Technology is a broad term that covers the many different tools and systems humans use to advance themselves and their environment. It includes physical devices like utensils and machines, as well as intangible tools such as software programs. Technology can be used for both good and bad reasons — it can help with medical advancements, improve communication, or create new jobs. However, it can also be a source of challenges such as automation, cyberbullying, and addiction.
It is rare that a scientific discovery or engineer’s idea can be directly applied in a useful way, so the process of developing technology is often a step-by-step one. Taking the time to work through each stage allows researchers to refine and perfect their ideas, as well as gain a better understanding of how they might apply to real-world applications. The process can take a long time, and seemingly promising early technologies frequently stall midway through development, a phenomenon known as the ‘death valley’ that requires sustained effort to overcome.
In an age when competition is tight and companies are constantly striving to outdo their competitors, technology is often used as a tool to distinguish themselves from the rest of the market. It has been proven that incorporating advanced technology into business operations and leveraging it to improve productivity can help to boost revenues and improve customer satisfaction. The same can be said for healthcare, where technology is being increasingly utilized to ensure that patients get the best treatment available, regardless of distance, location or financial limitations.