The discovery of new and improved methods of producing goods is referred to as technological progress. Changes in technology increase the productivity of labour, capital, and other production factors. The process of transforming inputs into outputs is referred to as technology.
A technological change entails the invention of technologies and their release as open source through research and development, the continuous improvement of the technologies, and their diffusion throughout the industry or society.

Technological Progress Phases
1. creation
The act of creating new technology is known as invention. It entails a novel scientific or technological concept as well as the means of realising it. An invention must be novel and useful in order to be patentable.

2. Creativity

Innovation can be used interchangeably with "invention," or it can refer to discovering a new way to use or apply existing technology. Everett Rogers defined innovation as a new idea, behaviour, or product to a potential adopter. Innovative technology has five main characteristics: relative advantage, compatibility, complexity, trialability, and observability.

3. Dispersion
The spread of technology throughout a society or industry is referred to as diffusion. It is the process by which the market accepts a new idea, product, or behaviour. The spread of new technology usage/application from its current user to others is referred to as technology diffusion.