Technological advancements

Definition

Technological advancements refer to the development and implementation of new or improved technologies that increase productivity, efficiency, and innovation in various industries. These advancements often involve the creation and use of new tools, processes, or systems.

Related terms

Innovation: The process of developing and implementing new ideas or inventions that lead to improvements in products, services, or processes.

Research and Development (R&D): Activities undertaken by companies or organizations to create new knowledge and technology through scientific research and experimentation.

Automation: The use of machines or technology to perform tasks previously done by humans. This increases efficiency and productivity while reducing labor costs.