High technology or high tech refers to the kind of technology that is cutting edge, advanced, and currently available. High technology does not refer to a class of technology because all kinds of technology have been considered high tech at one point, before being considered low tech or obsolete as time passes. It really has no definite definition and as long at is currently available, marketing firms mark new products as high technology. The term high technology or high tech first emerged in the 1950s in a New York Times story alluding to the atomic energy that was advocated in Eastern Europe.
The use of high technology is often directed to the one with the most potential for advancement and growth in the future. This is true with economy’s technology sectors, which develop advanced technology. This perception leads to investment that can also come as a risk when expectations fail and the potential is not realized. In this case high technology can also become a high risk at the same time, opening doors for high profits.
High technologyhas become an international phenomenon all over the world through the information technology and the Internet. Today’s businesses all are able to connect with each other 24/7. High technology sectors include Aerospace, Artificial Intelligence, Electrical Intelligence, Computer technology software, Nuclear Physics, Telecommunications, Robotics, and Nanotechnology.
High technology is also apparent in today’s competition between and within industries. An example of this is the manufacturing of sports footwear apparel and the growing competition between the brands involved. In catering to the needs of its market, top sports brands for footwear also grow competitively in terms of producing products from general shoes to different kinds of sports shoes, evolving from their looks and engineering, catering from the young market to the older ones. Even its services and packaging have developed to address both market needs and to position respective brands ahead in the game. The development of technology in this industry has even adjusted to the needs of the market. Today, brands tap into their fashion and style requirements. This competitive scenario contributes to growth not just of target market, the brands and their industries but also to science and technology as a whole.
High technologyand modern progression of discovery is motivated by capitalism and industrial evolution as well as the patent system. The varied forms of capitalism have made it possible to market products for a substantial return of investment. Thus, there are more means and opportunities to produce and market more products. With advancements coming from all sectors in society the market is bigger and larger. Technology in manufacturing also makes mass production possible, which cannot be compared to manual production.