With　the　current　acceleration　of　disruptive　and　convergent　technologies,　opportunities　to　apply　technologies　in　a　novel　way　are　playing　a　key　role　in　research　and　development　(R&D).　These　endeavors　can　help　enterprises　reduce　risks　and　make　money,　while　expanding　the　scope　of　their　technology　portfolios　and　imposing　transformative　impact.　However,　in　terms　of　practical　management,　how　do　enterprises　discover　potential　new　areas　to　which　they　can　apply　their　existing　technologies?　Current　research　mostly　focuses　on　the　existing　links　between　technologies　and　functions.　But　few　studies　discuss　the　hidden,　yet-to-be-achieved　links　among　these　elements　that　hold　the　promise　of　potential.　Exploring　these　opportunities　is　arguably　more　important　in　today＇s　highly-integrated　world.　Focusing　on　the　micro　level　of　knowledge　elements,　this　research　differentiates　between　the　concept　of　explicit　and　implicit　application　opportunities,　i.e.,　known　and　unknown　opportunities,　and　presents　a　systematic　approach　for　discovering　potential　application　areas　for　technologies.　The　approach,　which　is　driven　by　function-based　SAO　(subject-action-object)　semantic　analysis,　comprises　four　steps.　First,　technology-function　pairs　are　extracted　from　patent　documents　using　SAO　semantic　analysis.　Second,　a　bi-layer　technology-function　network　is　constructed　based　on　co-occurrence　relationships.　Third,　explicit　application　opportunities　are　identified　via　technology-function　mapping.　Last,　implicit　application　opportunities　are　identified　through　link　prediction.　A　case　study　on　immunotherapy　technologies　demonstrates　the　framework　in　practice,　showing　it　to　be　both　flexible　and　reliable.　Further,　in　addition　to　technology　opportunity　analysis,　this　framework　also　provides　support　for　technology　deployment　and　resource　allocation　decisions　to　enterprises　with　limited　resources.　　©　2025　IEEE.