Strategic Planning on potential impact of future technology

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Future Technology and Strategic PlanningThe advancement in information technology makes the current era dynamic and innovative. Technologies which improve certain human activities develop with each passing year. Leaders from different sectors of the economy are urged to adapt to the changing conditions. Among the many technologies in use, Internet of Things, Blockchain technology, and artificial intelligence are the most prolific today. Companies which combine these technologies improve their products and services together with receiving better customer feedback. The innovation is particularly useful in banking, insurance, supply chain management, and manufacturing industries (Rampton n.p). The company ends up saving money, utilizing resources effectively, and expanding into other regions.
The three main technologies provide a favorable digital environment for businesses. The Internet of Things connects anything with the internet depending on the instructions set (Patel and Patel 6122). Blockchains are digital ledgers with no use for a third party (Hileman and Rauch 13) while artificial intelligence refers to the intelligence of machine and their application in human activities (Swarup 1). The designers may use artificial neural networks and fuzzy inference systems (FIS)CITATION Pan15 p 81 l 1033 (Pannu 81)). Blockchains aid in the development of smart contracts and cloud storage (Rampton n.p). All these areas of technology are fundamental …