The significance of using impact assessments in technology projects lies in their ability to evaluate potential environmental, social, and economic consequences before implementation. Conducting these assessments helps organizations identify risks and opportunities associated with a project, allowing for informed decision-making. They are essential for fostering sustainable development and ensuring compliance with regulatory requirements. Additionally, impact assessments can enhance stakeholder engagement by considering diverse perspectives and addressing concerns early in the planning process, ultimately leading to more robust and socially responsible technological solutions.