Tech Companies – An Overview of the Tech Industry
Technology is simply the collective term for any systems, techniques, methods, or processes utilized in the creation of new products or services or in the achievement of specific goals, for example, scientific research. There are many different types of technology, including computer technology, medical technology, telecommunications technology, and so on. It is sometimes difficult to keep up with all the various forms of technology that are in use today, let alone the possible future forms of technology that may emerge tomorrow. Technological change occurs rapidly, and it can often be difficult to keep track of the sources of such change and their effects on society at large.
Defining the field of tech has been a long ongoing challenge, particularly as there are many different types of technology and their various definitions. The most recent definitions published by the American Academy of Arts and Sciences (AAS) include five general definitions of tech, which span the broadest scope possible. These are: the technological, the technical, the creative, the interpersonal, and the social. In this article, we will explore the different definitions and consider their implications when applied to today’s society and industry.
One of the most recent published definitions of tech was included in a recent white paper published by Google. According to this definition, tech is “the combination of people, technology, culture, information, and other human activities that create and enhance the user experience.” The paper goes on to define tech as an “art and science of creating and managing internet content and delivering search results based on user activity and interests.” Additionally, this definition considers a “tech product” to be a “self-contained interactive system created for and marketed to customers.” This definition is noteworthy for the potential application of tech in many areas beyond just search engine optimization, however.
Another current definition closely aligns with the AAS definition is that of a “tech company.” A tech company is defined as any organization that designs and builds products and services using cutting edge technology. Many large tech companies fall under this umbrella including Apple, Facebook, Google, Amazon, Zynga, Yelp, Microsoft, Dell, LinkedIn, Yahoo, YouTube and Etsy.
In addition to the definitions above, several other descriptions have been offered including business software, cloud computing, software applications, software design, computer software, computer systems and manufacturing. As previously mentioned these are broad definitions and each specific tech firm may not fall under any one of these categories. However, these broad definitions do provide the opportunity for new businesses and existing businesses to capitalize on emerging technologies. Many established companies view these new applications and technologies as a natural next step in their evolution. Many tech startups may view these applications and technologies as a way to “cut their teeth” on these technologies before seeking larger venture capital firms for more lucrative funding.
No matter what definition of tech you choose to apply to yourself, it is important that your company takes advantage of this growing market. Venture capitalists look to see if a technology company will be able to successfully apply the new technologies to their business model and if they believe that new technologies will solve a pressing problem. If you apply yourself to the task at hand and study the history of technology, you can take steps toward applying tech to the operations of your company. By learning and studying the history of technology, you will become well-versed in how and why new applications and technologies are being built. Thus, you will be one step closer to entering this exciting world of tech.
