1. Examples of
Technological
Innovation With
Potential Impact on
Business
MITID Innovation

2. According to McKinsley Global Innovation
Survey, 84 percent of the executives have
already understood that innovation is one of
the most important growth strategies. These
statistics highlight how important innovations
like product innovation, creative innovation is
in a company. Technological innovation could
be defined as innovation in which
technological characteristics of a new or
improved product differentiate from that of the
other product significantly.

3. Thus, developing a product innovation and
technology strategy for your business is
quite an important task. Even
though technological innovation could be
observed in various products around us,
here are a few technological innovation
examples that have significantly made an
impact on the business:

4. This is one of the technological
innovation examples that has made a
potential impact on the business. Artificial
intelligence could be defined as the
invention of machines with programming
like that of a human. It helps a business
grow by presenting customer service by
telephone and a chatbot, product
recommendations, and advertising.
Artificial Intelligence

5. 5G is referred to as the fifth generation of the
technology of mobile wireless
communications. This technological
innovation is known to provide faster
connections, increased device capacity,
lower latency, and many other benefits.
This technology will transform the business
as everything in a business would be
impacted by it.
5G Internet

6. Blockchain could be defined as an
electronic ledger. This creative
innovation has enhanced the power of
electronic currencies like cryptocurrencies.
Since its introduction, blockchain has
reduced problems in an organization like
removing friction, enhancing trust, and
increasing efficiency.
Blockchain

7. Edge computing is a kind of product
innovation that has enabled the growth of
a company by making an impact on
different areas in a company. The basic
purpose of edge computing is to provide
high-performance artificial intelligence and
computing to effectively manage different
areas of a company.
Edge Computing

8. This workforce could be defined as a
workforce with extreme intelligence as well
as competitiveness. It works with the
purpose of covering the deteriorating value
of the human workforce. Thus, it holds the
capacity to revolutionize and transform your
whole business.
Connected Industrial Workforce

9. With this technology by your side, one can
do things that humans could never do, like
learning things themselves, discovering
patterns, etc.
In the modern world, developing a product
innovation and technology strategy for
your business would be one of the first
things a company would have to do.

10. Innovation could be considered as the
bridge between a company and its growth.
With statistics reflecting that a customer
prefers to buy from an innovative company,
the importance of innovation could be
realized.

11. Understanding the significance, many
educational institutions are offering industry-
centric curriculum to create professionals.
MIT ID Innovation is one such institution
that is dedicated since the beginning to
make its students walk on the path of
innovation and transform businesses.

12. MIT ID Innovation Programme curates
knowledge and experiences that
challenge the very paradigm of evolution.
And that's why we have set out to define
the future of industries, communities,
cities and ecosystems. MIT ID Innovation
offers the best Courses in Innovation
and Design Thinking.
Conclusion

13. We’d love to
hear
from you.
MIT INSTITUTE OF DESIGN
Rajbaug,, Loni-Kalbhor, Pune-412201
innovation@mitid.edu.in
+91-7038982225 / +91 9834092369