When referring to technological advancements, the term “high technology” (high tech) refers to the most cutting-edge technology currently in use. Both the most advanced and the most recent
technologies fall under this category. A slide rule is an example of a low-tech gadget that may be used for calculations, while a supercomputer is an example of high technology. High technology eventually becomes low technology, as seen with the decline of vacuum tube electronics.
Origin of the term
The term first appeared in a 1958 New York Times article promoting atomic power in Europe, which began, “… Western Europe, with its dense population and its high technology…” As early as 1969, Robert Metz used the term in a financial column, writing that Arthur H. Collins of Collins Radio “controls a score of high technology patents in a variety of industries,” and in 1971, he used the abbreviated form, “high tech.”
High tech examples
Here is some major Examples of high technology manufacturing industries given below
Electronics Computers and telecommunications equipment
Medical devices manufacturing
Aeronautics, space, and defense equipment manufacturing
- Pharmaceutical industry
Examples of modern architecture & high tech buildings
- Burj Khalifa
- Bahrain World Trade Center
- Tottenham Hotspur Stadium
- Bloomberg London
- Amazon Spheres
- The Interlace
- Marina Bay Sands
- The Edge
- The House of Hungarian Music
- Guangzhou Circle
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Industries in high tech
In 2006, the OECD released a useful classification of high-tech manufacturing industries. The four groups are differentiated by the level of investment made in R&D by these sectors within OECD countries.
Startups that focus on advanced technologies (or create new advanced technologies) are sometimes referred to as “deep tech,” a term that can also be used to describe ground-breaking inventions or those that are founded on scientific discoveries. Instead of relying on human assistance, high-tech services may provide automated options for customers.
Technical advancements due to high tech
As a general rule, “high tech” refers to economic and industrial fields that place a premium on technical advancement. In addition to their crucial position in today’s economy, high-tech businesses also tend to offer much higher salaries. Since the 1950s, the high-tech industry has expanded tremendously, but it has also been the target of multiple economic bubbles, particularly since the invention of the internet. High technology jobs have been moving away from manufacturing and into the service sector in recent years.
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Challenges for High Tech Manufacturers
Due to the sensitivity required to create their products, high-tech manufacturers work in highly regulated environments. Furthermore, this sensitivity makes sure that these manufacturers follow the rules when it comes to adhering to the essential quality standards and laws.
Complex manufacturing processHigh-tech manufacturing companies use complex production processes in their manufacturing operations, as was previously said. Modern equipment and skilled workers are required by manufacturers to complete these procedures.
Research & development costs
As new technologies become accessible, high-tech manufacturing sectors need constant innovation to create superior goods.
This forces firms to invest a sizable amount of money in the search for new technology or more effective applications of current techniques.
Longer lead times for vital components
The functioning and quality of high-tech goods depend on a variety of intricately engineered components. However, these vital parts go through intricate production procedures much like the finished items they will be used in.
For instance, the scarcity of semiconductor chips that has been made worse by the pandemic and unstable supply chains has received a lot of attention recently. Delays have been experienced in the production of automobiles and other sectors that depend on these components as a result.
Supply chain bottlenecks
Due to the relative scarcity of the needed raw materials, high-scale enterprises go to international suppliers. But doing so opens up a number of possibilities for supply chain disruptions.
It is particularly difficult to coordinate several suppliers for numerous parts, which interferes with the manufacturer’s manufacturing schedule.
Geopolitical developments that are not favorable
High-tech manufacturers frequently work at the national or international levels. Therefore, modifications in the political or economic climate of the manufacturer’s target region have an impact on the company.
For instance, telecommunications equipment producers frequently serve several important countries and huge corporations. However, these overseas manufacturers can lose market share to local high-tech companies if governments restrict or outlaw specific technology.
Security of intellectual property
Due to the large expenditures made in creating and deploying cutting-edge technology, high-tech companies work to safeguard their intellectual property (IP).
However, companies need to be aware that other companies throughout the world could steal their intellectual property and utilize it in rival products. As a result, businesses are investing more money on information security.
Check the details about Biggest Technology Companies of the World
Opportunities for high-tech manufacturing companies
High-tech producers encounter a variety of difficulties, although certain possibilities make things easier. We have written a great deal about the trends affecting manufacturing as a whole, but there are some possibilities for high-tech manufacturers in particular.
Moving away from on-premise IT infrastructure enables businesses to more effectively adapt to evolving supply chain dynamics and market dynamics. Additionally, cloud computing allows businesses to store and retrieve data almost indefinitely, thus lowering the risk of losing crucial information.
Companies must react to changes instantly in the fiercely competitive high-tech manufacturing sector if they don’t want to fall behind the competition.
Businesses may react correctly by utilizing AI and machine learning technologies, which offer actionable insights into the current situation. These emerging technologies can also forecast weather, giving firms the ability to prevent major business calamities, gpt3 is the best example of ai & machine learning.
5G high speed connectivity
Fast connections are necessary for the operation to remain on schedule in areas like research and development, supply chain management, and other data-intensive, high-tech industrial processes.
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