Can Artificial Intelligent Robotic Technology Be Business Production Of Factor?

Can Artificial Intelligent Robotic Technology Be Business Production Of Factor? Synopsis

How to response times in technological innovation?In the terminology which have developed above, the behavioral effects may be considered as adjustment of the scope of the sellers and buyers organizations as the process of acceptance of the innovation in the market proceed. Costs and risks in technological innovation, innovation requires the commitment of resources over a long period, and it is therefore subject to the same kind of risks as any investment in conversion processes. The most obvious risk is that the technological difficulties are in the initial concept, with the result that no returns will be earned and the resources sunk in the investment may have been wasted. There is a set of market-related reasons why technological success may not result in an innovation. By the time, the new process or product is ready for the market, the demand for it may have receded or may never have materialised. This may be the result of fulfiment of the potential users' needs by another technology, i.e. the innovation may be technologically obsolete before it may be because of a change of fashion or styles of living.Two conclusions may be drawn, firstly, the product manufacturer has a good foresight and understanding is needed when undertaking projects which consume large amount of capital, or it may result in gross waste, because the future is always uncertain, however, the analysis, secondly, there is a limit to the rate of constructive innovation in an economic system, the ratio at which the system can accumulate. Hence, some product manufacturer will feel the technological innovation can be a good production of factor, such as a cost advantage is termed a competitive advantages. It is a broader term than the comparative advantages of traditional economy because of does not depend on a favorable climate or an abundance of natural resource. It is developed and maintained entirely by the skills of the people in the firms which are involved.Technology is like on the economic process, because once knowledge about transforming inputs into outputs has been obtained, and especially after it has been implemented, it doesn't disappear. Technological innovation moves the whole process. Thus, economy of scope confer permanent advantages on those who have them. Economy of scope is to be obtained from all the elements of the economic process which change with time and these are suspectible to improvement, whether as separate elements. They involve people, and their capacity to learn and improve, and material in all their different forms.