What Is Sensing Technology? How Is It Relevant To Sensors?
For example, the banking business has lowered the price of serving its prospects through the use of technologies such as automated teller machines, toll-free call facilities, and the Web. As of early 2005, the cost of a financial institution transaction carried out by a human teller was roughly $2, compared to $1 for a telephone banking transaction, $.50-1.00 for an ATM transaction, and about ten cents for banking over the Internet. Automated Clearing House (ACH) or “checkless” check processing costs were $.25-.50 per transaction. This discount in cost could possibly be attributed primarily to reduction the quantity of labor concerned, which had a profound effect on employment and labor-administration relations in banking.
Unfortunately, most corporations can not spend money on research that can only start producing revenues in ten or twenty years. Most revolutionary activity in corporations by necessity is targeted on brief-time period enhancements and technologies. Still, companies mustn’t lose sight of long-term innovations, as these are the applied sciences that may undermine existing market dominance.
It can also be a fantastic equalizer, undermining the competitive advantages of market leaders and enabling new corporations to take management away from …
