An Intelligent Mechanism to Automatically Discover Emerging Technology Trends: Exploring Regulatory Technology

Abstract

Technology trend analysis uses data relevant to historical performance and extrapolates it to estimate and assess the future potential of technology. Such analysis is used to analyze emerging technologies or predict the growing markets that influence the resulting social or economic development to assist in effective decision-making. Traditional trend analysis methods are time-consuming and require considerable labor. Moreover, the implemented processes may largely rely on the specific knowledge of the domain experts. With the advancement in the areas of science and technology, emerging cross-domain trends have received growing attention for its considerable influence on society and the economy. Consequently, emerging cross-domain predictions that combine or complement various technologies or integrate with diverse disciplines may be more critical than other tools and applications in the same domain. This study uses a design science research methodology, a text mining technique, and social network analysis (SNA) to analyze the development trends concerning the presentation of the product or service information on a company's website. This study applies regulatory technology (RegTech) as a case to analyze and justify the emerging cross-disciplinary trend. Furthermore, an experimental study is conducted using the Google search engine to verify and validate the proposed research mechanism at the end of this study. The study results reveal that, compared with Google Trends and Google Correlate, the research mechanism proposed in this study is more illustrative, feasible, and promising because it reduces noise and avoids the additional time and effort required to perform a further in-depth exploration to obtain the information.