Emerging Technologies and Their Game-Changing Potential: Lessons from Corporate World

Abstract

Purpose: The purpose of the chapter is to highlight the game-changing potential of emerging technologies and how these will change the very face of companies cutting across industries. Our work also aims to highlight the converging point of these technologies and describes how these new-age inventions can be more effective if stakeholders adopt a collaborative approach rather than competing against each other.

Design/Methodology/Approach: Using real-world case studies, the chapter identifies the most significant emerging technologies heralding a new era of efficiency across business categories. This identification has been made based on both secondary data and expert interviews. The opinions of the domain and industry experts have also been included to select six emerging technologies for the analysis.

Findings: Based on secondary and primary data, the chapter has identified the five emerging technologies that are expected to change how businesses are run completely today. The technologies are: (1) Metaverse Platforms, (2) Blockchain Technology, (3) Non-fungible Tokens (NFTs), (4) Decentralised Finance, and (5) Cryptocurrency.

Research Limitations/Implications: By identifying emerging technologies and their application domains, the chapter contributes significantly to both the world of academia and practice. The research has important implications for scholars and practitioners as these stakeholders must prepare themselves to realise the maximum potential of these new-age inventions. Policymakers also need to contribute constructively so that the adoption and implementation of these technologies can be done smoothly and seamlessly.

Originality/Value: The research is unique in the sense that it identifies the most-significant emerging technologies and offers a constructive roadmap for stakeholders to integrate these new inventions into their functional procedures and operational mechanisms effectively and efficiently.

Citation

Shalender, K., Singla, B. and Sharma, S. (2023), "Emerging Technologies and Their Game-Changing Potential: Lessons from Corporate World", Grima, S., Sood, K. and Özen, E. (Ed.) Contemporary Studies of Risks in Emerging Technology, Part A (Emerald Studies in Finance, Insurance, and Risk Management), Emerald Publishing Limited, Leeds, pp. 61-70. https://doi.org/10.1108/978-1-80455-562-020231005