Driving Economic Growth: How Tech Innovation is Transforming Maryland’s Industries

Maryland’s Tech Innovation

When high-tech enterprises try to establish a presence, Maryland is the state to be in, thanks in part to places like the Maryland Innovation Center. To create a list of the Most Innovative States, WalletHub recently examined innovation on a national scale. According to WalletHub’s analysis, Maryland ranks second among the 50 states and Washington, D.C., confirming what many Marylanders already know: innovation is encouraged here.

Industrial technology is used daily in business to speed up production, make it more efficient, and improve safety, efficiency, and profits. The constant need to find better, faster, and cleaner ways to make and use goods drives constant technical innovation, and the results can help both businesses and their customers.

Maryland innovation includes making new technologies and finding ways to use them in different fields. The goal is to improve people’s lives and, as you’ll see, maybe even save their lives.

Let’s look at how tech innovation is helping to transform Maryland’s industries.

Additive Manufacturing

Additive manufacturing, more widely known as 3D printing, has been around since the 1980s, but its potential has grown by a factor of a thousand. People can now buy 3D printers and use them to make things like cell phone stands on their own at home. But the effects on business have been much worse. With this technology, mass-produced things can get to the market faster and for less money. Additive manufacturing is already used to make prosthetic limbs, dental crowns, and other things. It could also be used to make human parts for transplant patients.

Robotics

Robots are not a new way to make things. They have been used on car assembly lines for over 50 years. These are not the living, talking robots you see in science fiction movies. Instead, they are robotic arms that can easily move heavy parts into place, paint, and glue a car without getting sick from the fumes. Robots are being used more and more in manufacturing, and the car industry has been a testing ground for this. This has made it possible for robots to be used in other business sectors.

Robotics

AI

One kind of robot called a “smart robot,” can learn and carry out new activities on its own rather than just following instructions. They are utilized in various ways in the company to boost productivity. For instance, chatbots—those tiny question boxes that appear on websites and introduce themselves with a human name before assisting—can fill in the gap when live customer support workers are busy. Artificial intelligence is used by self-driving automobiles, self-parking autos, and robot vacuum cleaners to make our daily life more convenient.

Wearable Technology

Virtual reality headsets, which have long been common in the video game industry, are now beneficial to businesses in a variety of ways. Before starting the costly and time-consuming process of constructing a physical prototype, automakers can produce 360-degree virtual images of prototype vehicles using design specifications. Virtual and augmented reality software enhances hospital efficiency and patient outcomes by allowing surgeons to practice difficult surgeries on virtual patients first. Consumers who care about their health can track their trip distance over time by wearing a Fitbit on their wrist.

Wearable Technology

Clean Technology

Clean technology, also called cleantech, is a set of technologies that either reduce or maximize the use of natural resources while at the same time reducing the negative effects that technology has on the planet and its ecosystems. The push for companies to act in a way that is good for the environment and give customers clean products led to the creation of low-flow toilets, electric cars, wind turbines, solar panels, and more,

Internet of Things

“Internet of Things” (IoT) often refers to tangible objects like appliances and devices with embedded sensors to collect and exchange data. These are not typically seen in gadgets like laptops and smartphones that provide this kind of functionality. One consumer-based example is the voice-activated Alexa, which enables users to access information and entertainment through straightforward verbal commands. Although everyone who uses Alexa can appreciate its ease, those who are blind or have mobility problems really benefit from the device.

It, also known as the pipeline linking and gathering mountains of data from a wide range of equipment and devices, is receiving investment from increasing manufacturing companies. One estimate states that 81% of industrial manufacturers are enhancing their operational effectiveness with Internet of Things technologies.

Why Maryland’s Tech Innovation Stands Out from Others

It costs 60% more to do business in San Francisco than in Baltimore, and it costs 44% more to do business in New York City than in Baltimore. The prices in Maryland’s rural places are even lower, and getting to the big cities from there is easy. When it comes to daily life, too, being able to afford things is a big deal. Entrepreneurs can follow their dreams without having to live in their cars, and the tech workers behind a Maryland startup find it’s a great place to lay down roots.

The lower costs of doing business in Maryland mean that big changes don’t have to be made. Maryland is right in the middle of the East Coast, making it easy for entrepreneurs to do business all over the world.

Final Thoughts

Businesses find it hard to figure out where to start and what role technology should play in their Columbia startup plan because technology changes so quickly. In the race to come up with new ideas and drive long-term growth, organizations must focus on using technology in the context of their industry, role, and area.

Businesses need to stop using technology just for the sake of technology and instead make it part of their overall business plan. How businesses set up their IT needs to change from focusing on cutting costs to focusing on growth and adding value. In this new world, companies will come to depend not only on their IT departments but also on new strategic technology partners to help them transform their business. These strategic partners can help bring together analytics, data, complex technology integration, and business transformation skills to drive industry-changing human experiences.

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