Emerging Technologies in the Global Business Market

Emerging Technologies in the Global Business Market

Jared Thomas and Alexa Porter

Doctor Nikolaos Mykoniatis

MARA 440

Texas A&M Galveston

Abstract

        In this research paper, we will answer the question of what emerging technology will affect globalization most in the next decade. In order to solve this problem we must first understand how the history of technological advancement has shaped the world into a globalized society with complex and interlinked economies. The earliest technological advances allowed early societies to intermingle. The free exchange of ideas allowed people to develop and trade with each other at increasing rates. Each step forward brought mankind closer to the globalization of today. The ability to access technology varies widely due to factors such as age, race, religion, and cultural norms. Ease of access plays a major role in the way people exchange goods and ideas. This digital divide dictates the role nations can play in our global economy. The most important factor in globalization is transportation. Without efficient transportation practices, today’s global economy would not be possible.  The major issue within the transportation system is congestion in and around port systems. Emerging technology is required in this industry to ensure international trade continues to grow at the rates it is projected to. The solution to this problem is a universal data management system which is in the development stages. This system seeks to unite the U.S. intermodal system by allowing a free flow of information from carriers, shippers, and port operators. This technology will effect globalization the most in the next decade by allowing port systems around the world to operate at new levels of efficiency which would allow them to process a rapid expanse in international trade.

Introduction

        Technology has historically played an important role in the life cycle of businesses. If a business is on the leading edge of an emerging technology, they can be catapulted into a global competitor. If a company is behind the technological curve, they can be left behind in terms of efficiency and productivity. This is why businesses and consumers alike must conduct research to understand how technology affects global economies so we can predict how new technologies will change our markets in the future. In the present global economy, businesses of all sizes must have their eye on competitors around the globe and be conscious of the effects of emerging technologies in the global business market. Technology use varies widely due to many different factors such as age, gender, ethnicity and ease of access. This digital divide must be understood to understand how advances effect different cultures as well as how long it takes for global penetration to occur. Another major factor in globalization is transportation because without the ease of moving people, products, and ideas, then isolated economies will have little effect on each other.  In our research, we found that maritime transportation is the most important to globalization because it is the most efficient means of conducting international trade. By the end of our research we will answer the question of which emerging technology will affect globalization the most in the next decade. We hypothesize the answer will be found within the transportation system because of the important role transportation plays in globalization.