Smart technology: Ecosystem, impacts, challenges and the path forward

Abstract

Smart technologies have become increasingly integral to modern society, bringing many benefits and opportunities. However, they also raise important questions about their impacts on individuals, organisations, and society and how everyone can move forward smoothly in integrating and adopting technology. Therefore, this study analysed and reviewed the literature to address the questions. The study provides an overview of the potential benefits and challenges of smart technologies and applications, including artificial intelligence, machine learning, natural language processing, robotics, and the Internet of Things. The review also explores the key entities involved in a smart technology ecosystem, including governments, businesses, and international communities, and each entity’s unique role in developing and implementing smart technologies. Additionally, the review highlights the importance of ensuring a smooth transition to smart technologies, including the need for effective policies, regulations, and ethical considerations. The key takeaways from this review are the need to balance the benefits and opportunities of smart technologies with the challenges and risks they pose. Individuals, society, businesses and governments must play their respective roles in ensuring that smart technologies are developed, implemented, and used in ways that are responsible, ethical, and sustainable.