Final answer:
It is true that RFID technology is widely used across various industries including retail, healthcare, pharmaceuticals, and agriculture for tracking and management purposes. Near Field Communication (NFC) is a related technology that facilitates secure short-range data transfer, often used in mobile payments.
Step-by-step explanation:
The statement that RFID innovations and technologies are being used in many industries including retail, hospitals, pharmaceuticals, and ranchers is true. RFID, or radio frequency identification, involves applying tags to objects that can be read by a scanner using radio waves. This technology offers various applications such as tracking merchandise in retail stores, managing assets in hospitals, monitoring drug distribution in pharmaceuticals, and identifying livestock for ranchers.
In retail, RFID tags help stores quickly checkout items. In hospital settings, these tags ensure that medical equipment can be located quickly. The pharmaceutical industry utilizes RFID for tracking drugs to prevent counterfeiting and manage inventory efficiently. For ranchers, RFID tags in livestock enable easy tracking and management of animal data.
Near Field Communication (NFC) is a similar short-range communication technology and is an offshoot of RFID, used for secure transactions like payments through cell phones. The security of NFC comes from its limited range, reducing the likelihood of unauthorized access.