The term technological substitution refers to the purchase of new technologies to replace older ones.
The simplest definition of technological substitution is the replacement of an older, well-established technology with a newer technology, whether it comes from the same technology family or has a new application.
Tracing financial innovation dissemination and substitution trajectories. The process of technological substitution may be characterized as the gradual replacement of "old" technologies by "new" ones.
The employment of computer programs to carry out operations that have typically been handled by humans is known as software substitution. There is a growing tendency toward software taking the place of employees. Automated checkouts and automated teller machines (ATMs) are two well-known examples.
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