The Impact of Emerging Technologies on Business, Industry, Commerce and Humanity during the 21st Century

New technologies, in their diverse forms, are revolutionizing the world of work, how organizations function, change and evolve and the nature of leadership, managerial roles and professional careers. They have become integral elements of business, industry and commerce throughout the world, driving the growth of the two most powerful forces in the global economy—cyberspace and computing power. However, while these are creating formidable new challenges for all organizations, they are merely the most gentle precursors to even more powerful and radical technologies (cyber, nano, bio, molecular and quantum) whose potential impact few business leaders or academics truly understand. The article describes these, and looks at the ongoing effects of emerging technologies on organizations. It then describes the impact these will have on traditional leadership, management and business practices in the near future. It also suggests ways in which business leaders can anticipate and plan for the effects of these new technologies on their organizations and leadership/management practices in the future. The article then speculates about the impact that new technologies are likely to have on humanity during the 21st century, with a warning about the potential dangers these may pose in future.