With advancements of time, it is now the right moment to adopt new technology in businesses and individuals for social and economic progress. The modern world is changing in a blink of eyes in term of technological prospects. The quicker we embrace new technology, the more benefits we can get from businesses, individuals, and societies. Technology is the source of all development and through which we will face new challenges. Business is more resilient now compared to any other time before and protected from the potential threat. In this short note, we will focus on how businesses and individuals can adopt new technology and get the best out of it.
Improving Productivity and Efficiency
It has been proved that adopting new technologies will significantly improve the efficiency and productivity of the systems and can bring out the best in humans. Machine Learning (ML), Artificial Intelligence (AI) and Automation tools will focus on the tiring repetitive tasks more accurately and faster compared to human beings while allowing human involvement to accomplish more complex and creative tasks. As an example, in car manufacturing industries more automation processes are on the board to finish the repetitive tasks tirelessly with great efficiency and reduce the risks of errors. In mobile phone industries or online retailers, AI-powered chatbot handles more queries faster than any human being.
Innovations and Competitiveness
Technology is the key tool for success in businesses. It helps the industries to create new ideas, products, and overall new services for which customers are paying to create revenue. Small devices like mobile phones, and tablets are technically changing the world in many ways such as banking, shopping, traveling, healthcare, and well-being. The way of communication and collaboration from the different parties has changed after embracing innovative technical ideas. By investing in new ideas, companies leverage the profit by offering unique and efficient services to consumers. New technology with innovative ideas can help the industries to invest more in research and development processing which ensures faster delivery of the products to the consumers.
Improving Collaboration and Communication
For a business to thrive, it is vital to make sure that the communication and collaboration among the teams and act accordingly. Hence, video conferencing, instant messaging apps, and cloud-based collaboration software come into play to accommodate all the teams sitting in geographically different locations into one platform to share workload. By doing this, it is easy to monitor a project from anywhere and the idea of “work from home (WFH)” has made a significant contribution during Covid 19 time. Without wasting time, it is easy to decide on the growth of the business. Overall, adopting new technologies into the business ensures better coordination and communication.
Boosting Economic Growth and Job Creation
While there is a concern that due to technological advancements, many will lose their jobs but in most cases embracing new technology within the industries will create more jobs that never existed before AI, ML, and Automation. The more people use the internet the more job will be in the market. As an example, skilled people, sitting in many developed countries, can now participate in the global job market through some famous freelancing sites via high-speed internet. It helps to create more jobs where unemployment is high and ensures the revenue for the government to boost the economy. By embracing new technology more jobs are created in the IT sector, e-commerce as well as healthcare services, and improved living standards.
Enhancing Healthcare and Quality of Life
Technology makes people’s lives better than ever in terms of medicine and healthcare. Now it is easier to find out the disease to improve patients’ diagnosis outcomes and quality of life. AI-powered diagnostic tools, Telemedicine, Online Instant Doctors, and wearable technical devices have made healthcare services more accessible to all in efficient ways. For example, a Bluetooth-connected blood pressure machine or blood sugar machine is constantly updating the important health-related data to the server quickly and timely manner so doctors can monitor and prescribe medication instantly while patients need help if any issue arises. In terms of the elderly or infant patients, in some cases, doctors can consult and prescribe medication through online video calls to significantly reduce frequent hospital visits. Moreover, with the advancements in technology, private and government health sectors are investing in Research and Development in Genetics and biotechnology to find groundbreaking treatments for previously untreatable diseases. In the United Kingdom, now local GPs are making all the appointments online which helps to reduce the waiting time for the patients and saves money for NHS.
Addressing Global Challenges
With the help of technological adaptation, it will be easier to address global issues like climate change, clean water, and food security. Renewable energy will be the future tool to mitigate climate change problems and reduce our dependency on fossil fuels. Food shortage is common due to climate change abruptly and by adopting precision agriculture and biotechnology crop yields can improve. Sustainable technology would allow us to grow more food while maintaining the quality and can feed a growing population around the globe.
Facilitating Education and Lifelong Learning
Technology is the best key to accessing online education. By embracing the new technologies in education, the learning experience is transformed to make it more engaging. Learners can access the E-learning platform, online courses, and digital resources anytime from anywhere by using the internet. On-demand Online resources are accessible through the internet via subscriptions or free without attending the traditional institutions. Nowadays, it is convenient for professional learners to attend flexible online classes who have no time after finishing 9 to 5 jobs. Virtual Reality (VR) and Augmented Reality (AR) make it possible to create a learning environment that provides enhanced understanding and explains complex subjects easily. In a nutshell, adopting technology in the educational system improves the individual learning experience.
Enabling Personalization and Enhanced Customer Experiences
AI-Powered Data Analytics allows the service provider to design specific and personalized products or services for the consumers. Big marketplaces use customer search data to decide on preferences for specific items or products. While it is nearly impossible to analyze such amounts of data in a short time, by using technology, many companies tailor their offerings to meet the consumers’ requirements to enhance the overall experiences. By embracing technology, it is possible to make decisions by examining more complex data.
Promoting Sustainability and Environmental Conservation
As the climate changes drastically, it is high time to utilize technological advancements to promote sustainability and environmental conservation. It is possible to minimize the impact of humans on the environment by innovative waste management, resource conservation, and energy efficiency. As an example, smart grid technology in modern power lines is helping to reduce the wastage of power and optimize distribution and consumption while ensuring low carbon emissions. In recycling plants, it is more efficient to sort out recyclable items to save time and reduce the environmental strain on landfills. To create a sustainable and healthier planet for future generations, this is high time for individuals and businesses to embrace new technology.
Enhancing Security and Safety
In the modern world, providing security is a real issue, ranging from domestic to industrial, premises to data security. To protect confidential and sensitive data from potential cyber threats, modern technology can be integrated with the system for enhanced security and safety measurements. In AI-powered data security measurements, it will be possible to keep the data safe, minimizing the loss of data and can detect the attack beforehand. At smart homes, intelligent cameras and surveillance systems can protect from burglary. Smart security systems in the vehicle can ensure safety. Smart vehicles are now connected with GPS systems to locate and track if it gets stolen.
Conclusion
The world is changing very quickly and so do the idea of using or utilizing the technology. It is never too late to embrace new technology rapidly to bring benefits in the future in terms of social, global, and economic development. Technology uplifts the standards of life and brings prosperity via unlocking the productivity. There are challenges ahead but technological advancements will bring innovations, integrating new ideas to individuals and businesses to create a sustainable and prosperous future. Technology will overcome the drawbacks to ensure continuous growth and development.
