Data-Driven Technology Management Supported by Artificial Intelligence Solutions

Abstract

Technology Management is an important part of a company’s business strategy. Procuring, evaluating, and processing information is crucial for this process success. This paper describes the way of dealing with today’s challenge of information overload. It introduces a concept of technology databases based on opportunity evaluation and the systematical development process of technical systems. The idea is to capture two perspectives – generic technology information outside the company and internal technology knowledge – in one comprehensive database to be used as a basis for decision-making in technology management. Complementing this, the paper presents concepts of Artificial Intelligence-based information retrieval and processing that are suitable to efficiently support and semi-automate the filling and updating of such a database. Furthermore, existing software solutions are considered as exemplary. The finding of this paper is a combined approach of such a technology database with artificial intelligence methods for information retrieval that can support the process of technology management more comprehensively than is currently possible.