Abstract

Businesses are rapidly accelerating their adoption of new technologies due to the plethora of new tech available, a faster technology development cycle and the need to remain competitive. Investing in a novel method of automation, for example, can result in significantly reduced operational costs and higher profitability. Adopting new technology also can result in unrealized potential or negative consequences for the business. Not considering the technology’s full effect on the product, process or people can result in customer risk, regulatory exposure, longer adoption times and increased cost of quality.