There are many people who have a mistake in believing that it is technology which drives the innovation. Yep from the definition of technology it is very clear that this is not the case. It can be considered opportunity which can define innovation and technology which will lead to innovation. You might be able to have the technology to build a better mousetrap but if you have no mouse or you don't have old mousetrap that works well then there is no opportunity that will come and then the technology to build greater and better one which is becoming irrelevant. On the other hand example you are being overrun with mice then the opportunity that exist to innovate a product with the use of your technology.
There are many companies that lists the technology as one of the competitive advantages. this can be considered to be valid but in most cases it is not. The technology can develop a two paths which are the evolutionary and the revolutionary pathways. Check out this reference page.
The revolutionary technology is considered to be one that will enable the new industry or enable the solution to the problems that were not possible before. The semiconductor technology is the very good example for this path. Not only did it create new industries and products but it also spawned other revolutionary type of technologies like the integrated circuit technology and the microprocessor technology. All of these will be able to provide many of the product and also services which we are now consuming today.
The evolutionary technology is considered to be the one which incrementaly creating upon the base of revolutionary technology. But because of its very nature the incremental change is very easy for the competitor to be able to match or to leapfrog. The very good example is the wireless cellphone technology. Know more claims about technology at http://money.cnn.com/technology/gadgets/.
In this current world the technologies will tend to be quickly becoming commodities and just within any particular technology lies the fruit of its own death.
To the developer, technology can look like a product only. An enabling product but a product that is nonetheless, and therefore very relevant. But whatever happen technology cannot be denied had already is take part on every people's lives. Technology also have a relevance in terms of the daily activities of the human being and it can be seen even after today. It cannot be denied that in the near future technology will improve and it can affect our day to day lives specially in terms of our daily activities. Read more here!