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5 pages/β‰ˆ1375 words
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Style:
APA
Subject:
Business & Marketing
Type:
Research Paper
Language:
English (U.S.)
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Total cost:
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Topic:

Technology and Solving Problems in the Market

Research Paper Instructions:

The purpose of this assignment is to identify and research a potential problem that technology could help to solve. The ultimate goal is to imagine where technology will be in 18-36 months and how it will solve problems. Technology is constantly growing exponentially. As entrepreneurs, you have opportunities to use this technology to solve grand problems within the world that would better the human condition.
Part 1
Identify at least three innovations that are currently disrupting an existing market. Write a 250-word summary (750 words total) describing each innovation, how it is changing the market, and the benefit it will provide. Include the following items:
1. Describe the innovation and how it is disrupting the market.
2. Explain what benefit the innovation provides.
3. Describe what barriers limit the adoption of this new technology.
4. Explain how many people are affected by the problem.
Part 2
Write about three future potential disruptions. Identify at least three new technologies, such as artificial intelligence (AI), robotics, social media aggregation, self-driving cars, or improved battery technology, that could disrupt a market in the future and improve the human condition. Examples of how a technology change could impact existing markets include:
1. Significant reduction in cost.
2. New way of delivering a product or service.
3. Improved service.
4. Product performance improvements.
Write three descriptions, one for each of the new technologies. Each of the three descriptions should be 250 words (750 words total) addressing the following three items:
1. Describe the innovation.
2. Describe the market and explain how it is changing.
3. Explain how the innovation will disrupt the market.
4. Explain the benefit it will be providing to customers.
General Requirements
During the construction of this assignment, consider the personas of the specific population. Contemplate demographics, such as marriage status, age, socioeconomic status, etc.

Research Paper Sample Content Preview:

Technology and Solving Problems
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Technology and Solving Problems
Technology has revolutionized the world in diversified ways. For instance, it has helped in developing technological frameworks that can be used to solve daily problems. Technology is changing the way of life, and every season, new tech or advancement on the same is witnessed every year. Technology has made business operations easier through data analytics, Artificial Intelligence, and cloud sourcing. The core objective of the research paper is to determine potential problems that can be solved through technology. Additionally, the paper will also evaluate potential technological disruptions in the future.
Part 1: Innovations that Disrupting the Existing Market
Disruptive innovations can be described as changing sophisticated and expensive products to be available to the broader market. Some innovations that are currently disrupting the existing market include virtual reality, augmented reality, cryptocurrency, and e-commerce.
Description of the Innovations
Virtual and augmented reality have the same technological characteristics, and they are used to make computer-generated scenes seem real. In this case, people can interact like in the real-life world but virtually in reality. Augmented and virtual reality are extensively used in computing companies since they help change digital elements into reality. Cryptocurrency is another innovation that has disrupted the current market since it has changed the mode of payments. It is a digital ledger that helps entrepreneurs to transact digitally globally. E-commerce is an innovation that has disrupted current markets in significant ways. Essentially, e-commerce is an electronic platform that facilitates online buying and selling (Harris, 2019). The most common e-commerce platforms include Shopify, Amazon, and eBay, among others.
How the Innovation Has Disrupted the Market
Virtual and augmented reality has disrupted currently existing markets in diversified ways. For example, the motor vehicle industry uses augmented and virtual reality to make digital cars. Cryptocurrency has modified the modes of payment in varied ways (Richards, 2021). It is a payment unit that significantly impacts the standard modes of payment, such as gold. It is a computerized ledger that uses algorithms to make payments anonymously (Harris, 2019). Typically, cryptocurrency has challenged other existing forms of payment such as visas and credit cards. E-commerce platforms have changed the old ways of conducting business. The current markets are forced to change to online transactions due to high competition in global markets.
Benefits of the Innovations
These innovations have great benefits than the old versions, and they are accessible to the broader markets. Augmented and virtual reality has made cars safe compared to old models. Tesla, BWM, and Mercedes are companies that are investing massively in augmented and virtual reality. Cryptocurrency has extensive benefits to the users since it is digital, and there are no transaction fees accrued. Moreover, cryptocurrency is developed using secure algorithm patterns which cannot ...
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