Strategic Planning on potential impact of future technology

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Future Technology and Strategic PlanningThe advancement in information technology makes the current era dynamic and innovative. Technologies which improve certain human activities develop with each passing year. Leaders from different sectors of the economy are urged to adapt to the changing conditions. Among the many technologies in use, Internet of Things, Blockchain technology, and artificial intelligence are the most prolific today. Companies which combine these technologies improve their products and services together with receiving better customer feedback. The innovation is particularly useful in banking, insurance, supply chain management, and manufacturing industries (Rampton n.p). The company ends up saving money, utilizing resources effectively, and expanding into other regions.
The three main technologies provide a favorable digital environment for businesses. The Internet of Things connects anything with the internet depending on the instructions set (Patel and Patel 6122). Blockchains are digital ledgers with no use for a third party (Hileman and Rauch 13) while artificial intelligence refers to the intelligence of machine and their application in human activities (Swarup 1). The designers may use artificial neural networks and fuzzy inference systems (FIS)CITATION Pan15 p 81 l 1033 (Pannu 81)). Blockchains aid in the development of smart contracts and cloud storage (Rampton n.p). All these areas of technology are fundamental in the modern corporate world.

The leader should motivate their workers to have a good learning culture in preparation for the future (Garvin n.p). They can also start learning how to use the internet and digital networks to market their products. The leaders should also tackle the issue of unemployment due to automation of many processes in the production cycle. They can develop longer life cycles for jobs and keep the skilled workers. Another area to deal with is the impact of modern technology on the environment (Patel and Patel 6130). Leaders should find ways of reducing the carbon footprint or organize programs aimed at cleaning the environment.
The most groundbreaking effects of future technology on business leaders are on privacy and security together with data management. Patel and Patel (6129) use leaders to invest in security protocols that safeguard their assets while using the Internet of Things (IoT). On top of this, the financial managers must purchase programs geared toward sensor/cloud interaction and lightweight encryption for future technologies. The security protocols aid in reducing cyber-attacks and interference with business processes through remote manipulation of systems.

Works Cited
BIBLIOGRAPHY l 1033 Garvin, David A. “Building a Learning Organization.” July-August 1993. Harvard Business Review. 07 hbr.org/1993/07/building-a-learning-organization. Accessed 07 October 2018.
Hileman, Garrick and Michel Rauchs. “Global Blockchain Benchmarking Study.” 2017. University of Cambridge Judge Business School. www.jbs.cam.ac.uk/fileadmin/user_upload/research/centres/alternative-finance/downloads/2017-09-27-ccaf-globalbchain.pdf. Accessed 07 October 2018.
Pannu, Avneet. “Artificial Intelligence and its Application in Different Areas.” April 2015. International Journal of Engineering and Innovative Technology (IJEIT) 4(10). www.ijeit.com/Vol%204/Issue%2010/IJEIT1412201504_15.pdf. Accessed 07 October 2018.
Patel, Keyur K, and Sunil M Patel. “Internet of Things-IoT: Definition, Characteristics, Architecture, Enabling Technologies, Application & Future Challenges.” May 2016. International Journal of Engineering Science and Computing 6(5). ijesc.org/upload/8e9af2eca2e1119b895544fd60c3b857.Internet%20of%20Things-IOT%20Definition,%20Characteristics,%20Architecture,%20Enabling%20Technologies,%20Application%20&%20Future%20Challenges.pdf. Accessed 07 October 2018.
Rampton, John. “5 Applications for blockchain in your business.” 2018. The Executive Education Navigator. 07 October 2018 <https://execed.economist.com/blog/industry-trends/5-applications-blockchain-your-business. Accessed 07 October 2018.
Swarup, Prakhar. “Artificial Intelligence.” 04 July 2012. International Journal of Computing and Corporate Research 2(4). 07 October 2018 <https://www.ijccr.com/july2012/4.pdf. Accessed 07 October 2018.