Provide a discussion response to the statement below with a minimum of 125 words of substantive content and references cited in APA format. No copying and pasting of work previously done for someone else.
Describe the different ways that companies are leveraging technology, innovation, robotics, and artificial intelligence to create a competitive advantage in their industry. Next, provide an example of an industry that has been severely impacted by innovation and technology and share your perspective on this change.
In today’s business world technology, innovation, robotics and AI are not an option they are a must-have. Technology can do everything from helping a customer maneuver through a company website to assisting them in tracking when their pizza is delivered. Companies use technology in ways we would have never conceived twenty years ago. Companies are always trying to find ways to one-up the competition and this has really become a challenge with all the new technology that is out there. Companies today are leveraging technology to challenge society and to benefit communities from both an economic benefit and an environmental benefit.
One of the most significant industries that have been impacted by innovation and technology is the telecommunication industry. With the new push to 5G technology there is a vast ongoing opportunity for change. Stop and think about when the first cell phone came out and the size of it, you had to carry it in a bag and few people had one. Now everyone has a cell phone and no one still has a landline in their home. But with this technology came the iPad, laptops and notebooks. The telecommunication industry has grown over the last twenty years thanks to technology.
Speculate on the legal implications you can foresee during this transition from the Traditional Brick and Mortar business to the fully automated industries of the future. Next, discuss significant challenges of the current legal system with keeping up with changes in technology. Provide support for your response.
So of the things you will need to take into account when transitioning to e-commerce business is privacy, intellectual property, spam, electronic transactions, technology risk, and protecting IT data. Then there are also trademark infringements, advertising infringement, data retrieval and data integrity. All of this needs to be considered when starting up an online business. Then there is the legal system that has to keep up with the changes in technology. Each state has different compliance law and then they also need to keep up with all federal regulations. The laws have not kept up with all of the advances in technology. You can look at the right to privacy law as a prime example. So if you post something on your private Facebook page can someone use it against you? Then there is DNA laws and what you can and can’t do with that information. But it comes down to is it legal and if it is legal is it still ethical. Until the legal system catches up with the technology industry there will always be questions.