Skip to main content

Factual Tech Revolution that disrupts the global economy

 Technological changes continue to shape humanity. 

It's no longer business as usual as the internet connects the world. Tech apps, social media, digital media among connected devices turn the world toa global village.

Forbes ranking listed tech companies such as Google, Microsoft, Amazon and a few others among the top 10 most valuable brands.

Technological upheavals shaping the world can only be comparable to the industrial revolution.

Currently, numbers (digits) control the world by prescription, while words shape the world in descriptive terms. 

The advent of the digital revolution kick-started the process of making work easier for humanity to thrive.

How Tech controls Humanity

How we communicate: Social media platforms has caused much disruption to telecommunication companies in offering both voice and text-based conversations. 

WhatsApp and Facebook messanger are among the most used social media.

In 2014, Facebook (currently Meta Company) bought WhatsApp at USD.16b.

How we Shop: E-commerce is slowly devouring traditional shopping malls as consumers navigate the web to shop. 

Amazon, eBay and Alibaba are among the global e-shopping sites.

Alibaba is slowly overtaking Amazon and eBay due to its innovative approach of doing business.

In 1999, Jack Ma a former English teacher launched alibaba.com with the intention of creating a business-to-business online market platform. 

Alibaba has morphed itself and currently supports business-to-consumer, consumer-to-consumer and a third-party online payment platform.

How we entertain ourselves: Movies and music streamlined online can be availed on Netflix, Showmax and YouTube. 

Netflix is the most sought entertainment site.

Netflix was started in 1997 as a video renting company. The site currently turns any internet connected device into a video-on-demand service.

How we take vacations: Airbnb is an acronym for Air, bed and breakfast.

Airbnb provides a web platform which connect apartment owners with clients seeking short term accomodations. 

The Company was started by Brian Chesky and Joe Gebbia. Airbnb disrupted the hotel industry on how rooms are booked.

How we travel: Travels can now book taxis online. 

Uber is the king of virtual transport booking. It's a taxi hailing app that is shaping modern transport in Urban centers across the world.

What industries are being disrupted by technology?

From historical perspective, the industrial revolution saw the emergency of machinery, manufacturing process improvements that replaced artisan and craft production.

The current information revolution gravitating around computing, internet and mobile telephony seeks to replace human labor.

Below are some of the industries which have been affected by technological upheavals:

Tax Softwares: Tax accountants are slowly replaced with tax Softwares such as TurboTax.

Travel websites: Currently, there's no need for travel agents as travellers can seek destinations via travel portals like Travelocity, Expedia and Kayak.

Virtual Assistants: Virtual assistants eliminate the need for human Secretaries, phone operators and office Assistants as they replace their services with mobile apps, telephone systems and Enterprise Softwares.

Translation Softwares: Reduces the need for human translators. 

Media: Digital media is slowly edging out traditional newspapers and magazines. 

Delivery services: Drone technology has revolutionarized the manner in which products are delivered. Drones may replace pilots in the film, crop dusting and travel monitoring sector.

How technology has impacted the world economically

Tech is the main driver of the economic growth of most countries across the globe.

Technological changes have impacted the way business is conducted thus becoming a major booster in the global economy.

Through technology, there has been sustainable efficient production of goods and services and enhancement of their delivery to potential customers.

E-commerce has led to the expansion of the market for goods and services.

The disruptive technology has created new markets and business practices, opened market for new product infrastructure and diverse labor skills.



Labels:

Comments

Post a Comment

Popular posts from this blog

How Musk's Neuralink Blindsight will allow the blind to see

  Scientists are still stunned by Elon Musk's plan to enable blind people to see, using his Neurolink's Brain Computer Interface chip dubbed Blindsight. Neurolink has already partnered with top Spanish scientists and US Santa Barbara to make a device called Blindsight, a smart Bionic Eye powered by brain implants and AI. Blindsight got the approval of the US Food and Drug Adminstration (FDA), though there have been no human trials. Musk confided that Neurolink will perform its first human implant of Blindsight at the course of 2025. Will Neurolink's Blindsight allow Blind People to see? Blindsight is designed to enable people with total visual impairment, as a result of damaged optic nerve but with intact visual cortex, to see. This is enhanced by bypassing the optic nerve and stimulating the visual cortex to create a visual perception. Visual cortex is part of the brain that receives, integrates and processes visual information relayed from the retina.  Blindsigh...
Post a Comment
Read more

How Human Brain will replace Smartphones in communication

Elon Musk envisiges a future where smartphones are obsolete and communication happens directly through the brain.  According to Musk, Neuralink the brain-computer interface that his company is developing, could eventually replace phones entirely. Imagine navigating the internet, sending and receiving text messages, or even making calls, all with just your thoughts. This sounds like fictional science. However, Musk believes the integration of humans and artificial intelligence is a necessary mileage for human evolution.  Neuralink’s potential extends far beyond convenience; it could disrupt the field of medicine, communication and the way we interact with technology forever. The future Musk envisions is not just coming, it's already in the pipeline. NEURALINK will make Smartphones completely obsolete. Neuralink is a company that was found by billionaire Elon Musk and develops brain-computer interface technology. Its goal is to connect the human brain to computers so as t...
Post a Comment
Read more

Why President Ruto risks being impeached

President William Ruto is treading a dangerous political path. His recent allegations over bribery in parliament might hound him out of office. The president has found himself in a political quagmire over his public expose on rampant graft in parliament. Legislators drawn from the National Assembly and the Senate were astounded by the manner in which the Head of State exposed their nakedness in the public gallery, instead of initiating prosecution process with the relevant mandated authorities. Majority of MPs were of the opinion that the president should have prosecuted his case with the relevant bodies established by the Constitution tasked to deal with corruption cases. National Assembly Speaker Moses Wetangula and his Senate counterpart Amazon Kingi have been directed by a section of MPs to summon the president to shed more light over his aspersions or risk being impeached. Homa Bay Senator Moses Kajwang' and his Nairobi colleague Edwin Sifuna were irritated by what they...
Post a Comment
Read more