Emerging technologies have revolutionized the way businesses operate, compete, and innovate. This research explores the influence of technologies such as Artificial Intelligence (AI), Blockchain, Big Data Analytics, Cloud Computing, and the Internet of Things (IoT) on business innovation and the development of sustainable competitive advantage. A mixed-method approach was utilized, collecting quantitative data through surveys from 100 managers and qualitative insights from 10 in-depth interviews across various industries including retail, finance, and technology in Southeast Asia. The study found that AI and Big Data Analytics significantly enhanced decision-making and product development. Blockchain contributed to operational transparency and security, while Cloud Computing improved scalability and collaboration. IoT strengthened supply chain visibility and customer engagement. However, challenges such as high costs, resistance to change, and cybersecurity risks were commonly cited. The findings support existing literature, including Porter and Heppelmann (2014) and Brynjolfsson and McAfee (2014), that emphasize the strategic value of digital transformation. This study contributes to the growing discourse on technology-enabled innovation and offers practical insights for business leaders aiming to navigate digital disruption. It concludes with strategies for maximizing technology integration, such as workforce upskilling, pilot testing, and leadership alignment, to foster innovation and maintain competitive positioning in a rapidly evolving market.