Allies for the Growth of Your Business: Technological Innovation

"Innovation is a change that introduces novelties. It modifies already existing elements with the aim of improving them, although it is also possible to implement entirely new elements." This is how we could define innovation. Now, what would technological innovation imply? Keep reading this article to learn more about it.

What is Technological Innovation?

This type of innovation encompasses new products on the market from companies, as well as the improvement or redesign of existing ones, in addition to changes in internal company processes.

The adoption of new technologies, cultural mergers, and the rise of global trade have led consumers around the world to constantly change their tastes and preferences.

These changes have created the need for companies to offer new products and services. This is where the importance of technological innovation lies today. innovación tecnológica en la actualidad.

To better understand it, some of the most important technological innovations of the last century are:

• The radio
• The electrocardiograph
• The photocopier
• The record player
• The space rocket
• Color television
• The nuclear reactor
• The telegraph
• The transistor
• The digital computer
• The microwave

What Does Technological Innovation Encompass?

Technological innovation involves situations that result in the launch of new products by companies, as well as the improvement or redesign of existing ones or changes in the industry and its internal processes.

This type of innovation is related to the commercial, productive, scientific, and financial aspects of the product.

Departments of Technological Innovation

The IT department, which was once viewed simply as a support function for technological solutions, is now an area that is highly consulted when it comes to changes and innovative solutions. With the rapid growth of new technologies in the world, it is necessary for companies to stay engaged and updated on these emerging technologies so that they can offer the best options to their employees and clients, thereby promoting technological innovation within the company.

Today, technology is a global issue and not just for specialists in the field. Smartphones have allowed people of all ages and social classes to interact more and more with technology. As a result, the demand for new technologies and innovations no longer comes just from large companies that use such services but from everyone and anyone who uses a mobile phone or tablet connected to the internet.

Inspired IT Professionals

For an IT professional to be inspired to innovate, they must have time and freedom to do so. Some large companies are already doing this, but it is particularly noticeable that startups have specific teams dedicated to creating new products— a practice that has become popular and is delivering results. Large companies like Google and 3M Corp are good examples of this. The result can be a new product or resource that drives revenue or increases productivity, or even both.

Companies that allocate time for employees to create and innovate notice a shift in motivation and the good results that come from it. One limitation to this practice is that many companies cannot simply give employees time to innovate due to the intense daily work routines. However, it is still essential to think of a solution to make this possible.

How Important is the IT Department?

El área de TI es importante para la creación de programas de innovation, pues siempre habrá cosas que mejorar en productos de software, que muchas veces pueden ser arregladas fácilmente por un programador especialista, sin la necesidad de grandes equipamientos y espacio físico. Eso gano mucha relevancia con el reciente ambiente de crisis económica mundial, lo que hizo con que los profesionales del área reflexionaran y que sintieran la necesidad de lo nuevo. Esa innovation hizo con que las empresas se consolidaran de forma más eficientes y con mejores resultados.

Once something new is created, knowing how to quickly adapt it to what the client needs, while offering more possibilities that deliver the expected return, ensures higher satisfaction and reinforces the recognition that this sector is fundamental to a company’s success.

IT Thought for Business

Technology is becoming increasingly indispensable in business. It is so embedded in the context that it is hard to imagine a near future without IT as the key, if not already the most important, part of the business. The idea of seeing IT solely as a support function no longer exists. Companies that have not yet realized this are losing market share and need to act quickly to survive.

Algunas actitudes pueden ser tomadas para que la innovation sea inserida y que el área de TI sea importante en los negocios. Entre ellas está el equilibrar el tiempo de productividad de los empleados con la idea de liberar la innovation, animar a quien tenga un perfil de innovador a participar, acompañar de cerca lo que se está desarrollando, evaluar un posible programa de bonificación para los buenos resultados.

Supporting innovations doesn't always yield immediate results, but managing it and adapting what is being done to meet the expected outcomes will bring growth to the company. In other words, technology should be elevated to promote the achievement of business objectives, generating growth and satisfaction for everyone.

What Challenges Will IT Innovation Face in the Future?

Here are nine major ideas and evolving technologies that are beginning to gain momentum today. IT departments must stay on top of these new ideas and technologies as they evolve and determine when, and if, it's the right time to deploy them for serious work.

1. Composable Code

This idea is a favorite among programmers around the world: a simple way to integrate software without any hassle. At one point, we talked about software agents. In another, we discussed an API ecosystem. Now, we talk about composable technologies. The vision is that the result of a piece of software will seamlessly coexist with the code of another in a long pipeline.

It’s a good economic strategy for businesses because a well-designed collection of APIs and composable libraries allows a team to build more and go further. Codebases tend to be easier to maintain and scale.

When it works well, a team can pivot quickly and add features—at least when those features take advantage of the existing codebase. But the strategy also protects mental well-being, both for managers and newcomers, because a well-thought-out composable code plan is a solid architectural project for the projects and, in some cases, for the entire company.

2. Decentralized Identity

The idea of splitting our so-called identity is evolving on two levels. On one hand, privacy advocates are building smart algorithms that reveal enough information to pass any identity check while keeping everything else about a person secret. For example, a potential algorithm might be a digital drinking license that ensures a beer buyer is over 21 without revealing their birth month, day, or even year.

Another version seems to be evolving in reverse, as the advertising industry seeks ways to stitch together our various pseudonyms and semi-anonymous browsing on the web. If you go to a catalog store to buy an umbrella and then start seeing umbrella ads on news sites, you can see how this develops. Even if you don’t log in, even if you clear your cookies, these smart systems are finding ways to track us everywhere.

3. Massive Local Databases

Databases began as programs that stored information on a computer, but recently, their tentacles have extended into the cloud, operating at the edge or at least near it. This means faster responses and less data movement to the mothership. Along the way, developers have found better ways to avoid consistency problems and lockups. Now, many cloud companies offer services that literally span the globe.

Companies with many customers will appreciate the opportunity to move more storage closer to their users. Cloud companies have done all the work of building a global network, and now businesses and their customers will benefit from faster response times.

4. Non-Fungible Tokens (NFTs)

These so-called non-fungible tokens, or NFTs, are popping up everywhere as artists sell the digital rights to their creations and sports leagues expect NFTs to become a modern digital version of trading cards.

Some mock the idea, questioning why anyone would pay a premium for the "ownership rights" of a digital block of bits that anyone can pirate. Others point out that people often spend hundreds of millions of dollars to own the original oil paintings, even though digital copies are everywhere.

This could eventually have practical value for any business that wants to add a layer of authenticity to a digital experience.

5. Quantum-Resistant Cryptography

There’s a fear about the power of quantum machines coming off assembly lines. This fear is driving a very practical revolution in cryptography, as mathematicians seek out a new generation of protocols capable of withstanding the power of quantum hardware.

The National Institute of Standards and Technology is currently in the middle of a multi-year competition to choose the best algorithms. Although quantum hardware remains a tempting mirage on the horizon, the software born from this fear could lay the foundation for the next generation of protocols that protect transactions and communications.

Businesses need to stay informed about each of these technological innovation trends to stay at the forefront and be ready for growth. Is your IT department prepared?