Role of Emergent Technologies in Entrepreneurial Firms

Abstract

New technologies are one of the most obvious parts of the emotional change of culture in developing or developed countries. These emergent technologies offer enormous opportunities for the entrepreneurial firms interested in searching for a competing lead in business as well as pose challenges to the firms. The emergent technologies can go a long way in helping the organisations to tap the newly emerging markets with high potential. The present study aims at identifying the role of emergent technologies in influencing the survival and expansion of the business. The study has compiled the reviews of various scholars on the usage of the latest technologies by the firms to achieve a competitive edge. This is a descriptive study and makes use of the secondary data. The findings of the study suggest that technologies, such as AI, robotics and drones, 3D Printing, serverless computing, block chain and so forth have been most important technologies for the firms, as they have completely changed their traditional way of organisation functioning. These technologies enable effective and efficient decision-making and promote the growth and development of the firms. The study makes a value addition to the existing literature on the role of emergent and futuristic technologies in enabling the entrepreneurial firms to pave their way towards sustainable growth in the competitive business environment through ingenious business solutions.