Technological progress is one of the key drivers that has led to enhancements in incomes and standards of living. We all can agree to this fact that technology has become a vital force in the modern form of business globalization. It has succeeded in revolutionizing the global economy and has become a critical competitive strategy for all the leading countries. A technology revolution is sweeping the world throughout. There has been a swift transition from manual to electronic delivery of services both in the public and private sectors. It leads to the progression of the business community throughout the world in some of the following ways:
Direct job creation
Numerous public services and jobs have become accessible online and through mobile phones. Facebook apps solely created over 182,000 job opportunities, according to research published in 2011. The global tech market has grown by 8% over the past few years. It has resulted in the creation of jobs, salaries, and a wide range of services for people and products. The transition to cloud computing has become one of the leading trends for modernization. The IT sector had produced plenty of jobs. It’s believed to remain one of the largest organizations in the future with advancing technology.
Technology has eased down the search for job possibilities as well. It has become more accessible for people to look for jobs they prefer with the help of mobile applications like LinkedIn, Glassdoor, and many more. The companies can also search for the desired employees that suit their portfolio well.
With the help of advanced technology, there is an increased production of food near the point of consumption. Genetically modified organisms (GMO) is a biotechnology that plays a crucial role in food technology.
GMOs have certain traits, like herbicide resistance, pest resistance, and increased nutritional value.
We can immensely reduce the use of land and water with the help of technology. Sensors have become very important to food technology. Sensors allow farmers to monitor the temperature and moisture levels remotely of the crop. The technology has already come to the farm in the form of irrigation technologies, crop yield monitoring, and has proven to be a big help to farmers. WaterBee is a system that helps in the reduction of water. It collects data on soil content and other environmental factors using wireless sensors to reduce water waste. With the help of new technology, wastage of food is being reduced drastically, and strides are being made with apps and web platforms to put the food to good use.
Today we observe that more than 95% of businesses have an online presence. The Internet has made everything much more accessible than before. It provides organizations with new and innovative ways of reaching out to customers and encourages them to strive for market share. Social media, over the past few years, have established itself to be a potent marketing tool. The IT tools and techniques exercised within companies have successfully helped them to streamline business processes and improve the efficiency of their company. The usage of technology can help companies or concerned people to anticipate market changes more quickly. It helps them to get ahead of opportunities, so they don’t have to react to shifts and change plans at the very last moment.
Such reforms provided by technology, like continuously analysing market trends at any moment, attending to your customers, suppliers, and advisors, and learning about competitors to differentiate yourself from them, have helped organizations.
Many tech researchers are working to develop a broad range of technologies to make energy and power more abundant, efficient, and eco-friendly. With the rapid progression in technology, the use of high energy Li-air batteries has been made available to us. They are proven to be more reliable than traditional Li-Ion batteries. Li-air batteries guarantee an energy density that rivals gasoline and offers a five-fold increase compared to Li-Ion ones.
Researches are working on many such projects that can change the way we traditionally utilize energy.
Moreover, the fuel itself is free—forever as there is no global price on the sun or wind. People who are relying on solar and wind power need not worry about cost volatility as the development cost of renewables has been falling exponentially and is becoming more affordable. Shortly, it is likely that intermittency and storage problems will be solved or at least mitigate thoroughly.
There is no uncertainty about the fact that technology is playing a prominent role in globalizing the world that is urging countries to adopt more ethical standards. Technology has been playing a beautiful role in enabling the expansion of globalization, for there’s no secret that technology is stimulating the spread of knowledge and helping spread growth potential across the world.