Abstract

Innovation occupies a significant position in the realm of technology. It aids in increasing competence and offers superior competitive performance. Understanding innovation involves the capacity and aptitude to apply in many contexts. Because of the intellectual side of innovation, technology is always evolving, paving the door for new technologies. Despite the fact that the idea of emerging technology is not new, its use in many organisations may not have even begun. Emerging technologies modify the nature of competition and generate new industries or reshape current ones. It is crucial for any firm to recognize its capacity for innovation to fully utilize new Technology to meet long-term goals and thrive in a cutthroat environment. Any organization's capacity for innovation is related to the work done with its resources. The resources might be in the form of personnel, technological advancements, or other organisational assets. These resources can communicate with both the internal environment and the external environment. These interactions aid in identifying the knowledge and expertise required to integrate innovation capabilities within the business, which eventually leads to the creation of new, highly valuable products and processes

Description