Two major impacts of new emerging information technologies (EIT), much desired by businesses, are 1) reducing the firms operating costs (short term impact) and 2) achieving or increasing the firms competitive advantage over its business rivals (long term impact). Specific examples of beneficial EITs being considered and implemented by corporations today (as well as many small businesses) include: drones, robots, global positioning systems, big data, artificial intelligence, virtual reality, 3D printing, autonomous vehicles, biometrics, wearable tech, and many others.

Research and select two (2) different specific EITs, one that may result in a significant operating cost reduction and another that may help create a competitive advantage. Describe in 300-400 words a) how the selected 2 EITs could help to reduce costs and improve competitiveness in a specific business or industry type. Also include in your discussion, b) what do you see to be the key challenges that your example would need to overcome in order to realize these benefits.