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1.2.3 Best Practices and Risks Associated with Emerging Technologies

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As technology continues to grow, there are both best practices and risks that are associated with it. In this case, the best practices of the emerging technology involve efficiency whereby, since time does not stand still, there is a need to have things done quickly and accurately. New technologies are constantly changing business dynamics since people can easily interact and exchange ideas and transform their organizations. Another best practice that has been established by the presence of technological advancement is safety. In this case, industries and manufacturing sites are safer, and thus hazards that could affect peoples' health has been minimized (UN 2018). In the healthcare sector, the business has changed tremendously since different technological machinery has enhanced the diagnosis of different diseases and infections. Thus, it is easier to get cured.

Even though human habits have led to pollution and the degradation of the environment, emerging technologies are designed to improve environmental conservation (Veletsianos 2018). As a result, the inventions are eco‐friendly. In the next few decades, it is expected that inventors will continue designing technologies that are friendly to the environment as they are geared towards ecological conservation. Emerging technologies have enabled people to express their creative ideas, and they have transformed the world, especially in the business sector (Whitmire 2014). Even though there are numerous advantages associated with emerging technologies, they are posing some risks in various areas. Once an idea has been published on the internet, either positive or negative, it is difficult to remove it and can easily be traced back to the owner. As a result, some individuals can post misleading information that could impact businesses negatively (Ramey 2012). Global networks have enabled people with sinister motives to spearhead negative propaganda towards their competitors, hurting businesses. In the recent past, identity theft has been a significant issue where users cannot protect their virtual image. Therefore, even though the emerging technology has benefitted individuals and organizations, the negative issues need to be addressed so that technology advancements can be achieved successfully.

As organizations strive to adopt the best practices imposed by emerging technologies, they should ensure that they implement strategies that will help them deal with emerging technology risks. In some instances, a small organization may find it challenging to implement some emerging technologies since it could be expensive. In such scenarios, such an organization should seek opportunities to merge or lease the available technology to realize its goals and objectives (Veletsianos 2018). In the future, it is expected that due to emerging technologies, people will lose their jobs. The government should use the ideal strategies to prepare people for such changes since it could disrupt the economy. Since change is inevitable, the next two decades will present challenges to the government. A lot needs to be done to ensure that the population will remain active despite becoming displaced from employment due to technological advancements and implementation in different organizations.

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