Meaning of the word utilizing in English

What does utilizing mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

utilizing

US /ˈjuːtəˌlaɪzɪŋ/
UK /ˈjuːtɪlaɪzɪŋ/

Verb

making practical and effective use of something

Example:
The company is utilizing new technology to improve efficiency.
We are utilizing all available resources to complete the project on time.