Technological innovation refers to developing and implementing new technologies and solutions that can revolutionize how firms operate, create value, and compete in the marketplace. It entails utilizing emerging technology and digital tools to develop new goods, services, and business models that promote growth and innovation. In the fast-changing business environment of the 21st century, technology innovation is more important than ever for organizations seeking to stay ahead of the competition and fulfil customers’ changing needs.

A comprehensive plan for technological innovation can help firms utilize emerging technologies and digital tools to promote change and growth. Businesses can alter their operations, value creation, and market competitiveness by developing a comprehensive technological innovation plan capitalizing on emerging technologies and digital tools. Technology innovation can assist firms in creating new opportunities, enhancing efficiency, and driving development and profitability.