Technology innovation is a comprehensive concept of scientific innovation. While technological innovation is generally a fairly well-defined idea, it often has a comprehensive meaning to most people, particularly those in the business and academic worlds.
The themes of technological innovation are also vast. For example, some of the themes of technological innovation are futurism and post-modernism. Futurism refers to the idea that the present is always ripe for new and revolutionary ideas. For this theme, the 20th century is indeed ripe with opportunity.
On the other hand, the 20th century also has been referred to by some as a high-tech innovation period. This is because there have been several periods throughout history when human technology and advances in scientific discovery have created a new and unprecedented level of wealth and complexity in human society.
Throughout this high-tech innovation period, we have seen great social and economic progress. However, along with these tremendous advancements came immense social and political differences as well. Thus, a concept of technological competition was introduced to understand whether or not technological developments are creating a competitive edge for humanity.
Innovation may be considered a process or an event, but it is often viewed as a series of processes. One example is the emerging fields of artificial intelligence and cognitive science. These emerging fields combine traditional computer science with emerging science and technology to create machines that can think, reason, and learn on their own. As a result, these machines are beginning to replace most of the jobs once held by human beings such as programmers, scientists, security experts, financial analysts, and even physicians.
In Japan, there has been a tremendous rise in the area of business innovation. This has been attributed to the enormous growth in the computer industry due to the arrival of the PC and the Internet. As a result of technological advances, many companies throughout Tokyo are specializing in software development. One of the most prominent areas of business innovation in Tokyo is Toyota, one of the largest car manufacturers in the world.
As is the case throughout the developed world, many highly talented programmers and scientists in Tokyo are producing technological innovations at breakneck speed. Many of these innovators came from various computer science and engineering firms based in Tokyo. While some were trained as computer engineers, many were educated in highly acclaimed colleges that focus on problem-solving and the application of technology. In addition to hiring these innovators, Tokyo has also begun to draw on a pool of talented young students fresh out of college. Many of these young developers are working in various computer consulting firms throughout the city.
The ability of U.S. firms to attract and retain the best talent globally has allowed them to develop cutting-edge products that have revolutionized industries. However, the inability of Japanese companies to keep up with their counterparts has created a competitive edge in Tokyo. As a result, the Tokyo Miracle is credited with many technological innovations, including transportation networks, electronic products, consumer electronics, energy deregulation, and information technology. In fact, while U.S. firms have long held a large majority of the market for technology innovation, recent trends point to the fact that Japanese companies now hold nearly half of the market.
There is little doubt that the Tokyo Miracle will continue to fuel this pace of technological innovation. However, Washington and other capitals must also begin to address structural unemployment issues that hover over Japan. If the U.S. and European Union fail to acknowledge the problems of structural unemployment in Japan, they may find that they have substantially undermined their own credibility on the global scale.