The significance of conducting technology feasibility studies lies in assessing the practicality and viability of new technologies before significant investment. These studies evaluate technical capabilities, potential risks, and alignment with organizational goals, enabling informed decision-making. By identifying possible challenges and confirming that a technology meets specific needs, organizations can avoid costly missteps. Conducting feasibility studies leads to more strategic implementation, optimizes resource allocation, and enhances the likelihood of successful technology adoption, contributing to overall business success.