Technology is the application of knowledge to reach practical goals in a specifiable and reproducible way
Technology is an important aspect of our daily lives. It is the application of scientific knowledge to accomplish practical goals. Whether this technology is a physical tool or a process, technology has a wide variety of applications. Throughout history, technologies have helped humans solve problems and improve their lives. Today, technology encompasses an enormous range of fields, from medicine to agriculture to manufacturing and construction.
The philosophical foundations of technology are rooted in the philosophy of science. A number of philosophers have explored this relationship between technology and knowledge. Karl Popper and Michael Misak have both written about how scientists think about science and technology. They have argued that science is the application of knowledge to achieve practical goals in a specifiable and reproducible way.
It is a “combinatorial” process
A common conceptualization of invention in the social and biological domains is that of an adaptive search process in a space of combinatorial possibilities. This view has also been advanced in management science and economics literature, which suggest that technological novelty is produced through the combination of existing and new technological capabilities.
As the complexity of a problem increases, the time and computational resources needed to solve it increase. For example, landing on the moon is orders of magnitude more complicated than flying across a field. Yet it took more than sixty-six years to accomplish that feat. This process of discovery is known as combinatorial innovation.
It is expensive
Although it can be expensive, implementing the right technology in a business can be a great investment. It can also deliver tangible cost savings and optimizations. This is important because it helps increase the ROI of the investment. According to a study from the University of Oxford, using new technology in a company can improve employee morale and productivity by 13 percent. It can also reduce turnover and absenteeism, increase sales, and improve customer satisfaction.