Technology, now an indispensable part of our lives, is changing paradigms at an astonishing pace. Creative minds all over the globe are leveraging the power of technology to transform sectors such as finance, health, security, education, communication, entertainment and everything else that we can think of.
This electronic revolution coupled with the need to have instant
turn-arounds and perfectly viable solutions have made the current generation takers for more.
Let us understand the effects of fast evolving technology in some important aspects of our lives:
1) Technology and Finance
Technology today is transforming financial access across the globe in dynamic ways. Apart from helping to bridging income disparities, technology drives the digitalisation of payments and encourages a cashless economy and target subsidies better. The money saved thus can be utilised to bring about reforms for the underdeveloped sectors of the society. Technology will also eventually lead to formalising and organising the Indian economy and bring more and more people into the tax bracket, which should ease the tax burden on the country.
With digitalization: –
– money laundering will stop,
– more money will enter banks
– loans will become easier to access.
People can transact online, and online vendors can avail bank loans, grow and move up the value chain over a period. Transactions will be executed quickly; payments systems will be totally secure, and the government will be able to connect with people directly.
2) Technology and Medical
The influx of technology has resulted in easy access to quality medical care. Not only do many sick patients not have to travel anymore with technological innovations enabling remote health monitoring, but with the introduction of artificial intelligence, it has become possible to have optimized delivery of healthcare reach all through the world. Remote surgeries are now possible, with access to 5G network.
3) Technology and Education
Technology has made education more accessible and learning more impactful. Remote learning and digital classrooms have made it possible for more and more people to get educated and find themselves suitable job as a result. Thanks to the influx of e-education, girls have been able to challenge limited mobility and up their chances of earning a decent livelihood through effective distance learning education programs, etc.
4) Technology and Security
The rapid advancement in technology has certainly played a vital role in helping people stay aware of their surroundings and remain alert and safe.
Several safety applications have surfaced, such as VithU, Raksha, BSafe, Pukar, SafetyPin, seeing a parallel increase in crime rates.
Features such as location sharing, group tracking, notifying police, safe-unsafe zones, etc. aid people, (especially women) seek help in the face of threat.
5) Technology and Entertainment
Thanks to technology, the world of entertainment has grown tremendously over the last few years. Modern inventions such as entertainment in the hands of consumers through mobile phones HD quality, animation, etc. have infused drama, music and information all day, every day, in the lives of people.
Innovative technologies have impacted multiple industries and will continue to do so, more effectively than we can imagine. As technology continues to transform society, it is important to embrace its power to make a positive difference in our lives.