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Technology continues to transform every aspect of business — from how products are designed and manufactured to how businesses communicate with customers and manage their operations. This lesson provides an overview of the key technological changes affecting businesses and evaluates their impact.
| Technology | Impact on Business |
|---|---|
| E-commerce | Enables businesses to sell online to customers worldwide, 24/7 |
| Social media | Provides new marketing channels and direct customer engagement |
| Automation and AI | Automates routine tasks, improving efficiency and reducing costs |
| Cloud computing | Allows businesses to store data and run applications remotely |
| Big data analytics | Enables businesses to analyse vast amounts of data for better decisions |
| Mobile technology | Apps and mobile websites allow customers to shop and communicate anywhere |
| Internet of Things (IoT) | Connected devices generate data and enable smarter operations |
| 3D printing | Enables rapid prototyping and small-batch manufacturing |
| Blockchain | Secure, transparent record-keeping for supply chains and transactions |
| Artificial Intelligence | Chatbots, recommendation engines, predictive analytics |
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