Technology is one of the pillars that enhance the process of business integration and globalization, and they are integrated and expanded, making them more efficient, economical, decentralized and inclusive.
This resource greatly helps in increasing the efficiency of production systems for goods and services. Therefore, despite the difficult political and economic conditions, according to WIPO (World Intellectual Property Organization), in 2022 alone, around 1.8 million patents were registered worldwide, which is 3.9% more than in 2021, and twice as many as registered. 15 years ago.
Therefore, the rapid advancement of technology in recent years has also changed the way international business is handled.
With this background, George Cosio, professor in the International Business Management Program at Le Cordon Bleu University, shares 4 benefits of using technology in international business:
1. Improves productivity through automation and efficiency of resources and processes; In this aspect, artificial intelligence (AI) and machine learning are used.
2. Communications are fast, economical and accessible to all companies and consumers to carry out negotiations and all kinds of activities; IoT (Internet of Things) uses
3. Promotion of information (internet), research, knowledge dissemination and trade at all levels; The chains disclosed here (Blockchain) are taken into account to carry out transactions, document procedures and digital records or reports in a secure, fast and decentralized manner.
4. Logistics and transportation, which allows large volumes to be distributed to more locations quickly, efficiently, safely and economically.
Technology can revolutionize the way international business is done, especially digital marketing platforms, online services that automatically connect users and suppliers around the world, or 3D printing, which is already successfully used in industry.
Disruptive technologies in international business are not new. Actually, our country is not ranked 3rd. The industrial revolution, when they were already implemented in the most developed countries, mostly, the 4th already provided major changes. Revolution, now they are even preparing for 5th place. revolution
“It is important to restructure education and business models and business vision. The new generation now in the classrooms has the responsibility to use them properly, so if we want to create a modern, inclusive and equal society, we must be aware that we need to implement the new knowledge of each of these developments. He points out.
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– Andina Agency (@Agencia_Andina) November 16, 2023
(FIN) NDP / MDV
Published: 11/17/2023