The Innovative Changes Technology is Making on Industrial Sector
Technology and human life cannot be separated; society has a cyclical co-dependence on technology in our daily life, and our needs and demands for technology keep on rising. Humans use technology to travel, to communicate, to learn, to do business and to live in comfort. Technology has also helped connect people from all over the world, improved communication and helped strengthen family ties, and improved efficiency. Below is how technology is making changes on industrial sectors.
Changes in construction sector
In the Europe of the middle ages, craftsmen with varying levels of skill manufactured carts one at a time. Even the best of these carts provided little more than basic transportation. In the same cities of Europe, at the same time, master masons and builders created incredible stone cathedrals, using principles of design and construction that were breathtaking for the time. Today the technologies of both manufacturing and construction have changed, but not nearly to the same degree. Part of the reason for the different degress of change can be found in the basic differences between manufacturing and construction. Construction is essentially the process of moving and assembling materials and equipment into a completed, operational facility. Although many construction operations are repetitive, they are performed neither in a fixed sequence nor at a fixed location. In the next 10 years, the greatest technical impact in the construction sector is expected to come from improved management methods and automation. Advancements in management methods to improve productivity and schedule performance will employ automation and expert systems to a great degree.
Changes in telecommunications sector
Remarkable progress in telecommunications technology has had and will continue to have an enormous impact on telecommunications manufacturing and service industries. In particular, digital technology that integrates transmission, switching, processing, and retrieval of information provides opportunities to merge various service modes into an integrated whole. This digitalization, merging the communications and computation functions, has been made possible by dramatic advances in device like circuit design software and material technology, including integrated circuits and optical fibres. Satellites and optical fibres among other technologies, contributes significantly to the globalization of telecommunications services. standardization and interoperability of systems have become global issues, as have compatibility of regulatory measures that ensure free trade in telecommunication products and services. These technological advances represent only a few of the recent developments that have had a tremendous impact on telecommunication industries. In light of increasing dependence on information, our society needs an enormous stock of information, as well as appropriate means of selective access. in other words, the use of a variety of databases and the development of database management technology will significantly influence the growth of telecommunication industries.
Changes in the real estate industry
Technology continues to be a catalyst for change in all areas of business and industry, and the real estate market is no exception. today’s worker is more mobile and more connected than ever before, which means that businesses can operate anywhere. Especially in mature urban centers, the pushback against escalating real estate leasing and ownership costs is escalating. While telecommunicating may not be a viable option for all companies, or even all employees within a company, many organizations like Garage door repair Vancouver company, have utilized remote work models with great success. This is reducing the amount of office space needed to accommodate employees, and it is changing the dynamics of what constitutes an ideal-read expensive-location.
Changes in financial services sector
Over the past decade, the financial services industry has changed considerably, and not just in terms of the disappearance of major players such as Lehman Brothers. Constantly evolving technology has had a huge impact on the industry, creating new challenges but bringing new opportunities. Generally speaking, the main challenges facing the industry in the 21st-century concern how best to deal with the huge amounts of data that the technological age has brought. Indeed, the amount of data held by firms of all sizes has increased exponentially over recent years, meaning effective data mining is now a crucial part of a financial services firm’s operations. as well as being managed, data needs to be stored and stored safely. in the wake of 9/11 attacks, banks and other financial firms have come to appreciate the importance of secure backup sites for their data, leading to the emergence of huge data centers, while more recently, growing numbers of firms have started to embrace cloud computing. Given the potential penalties for losing data, as well as the devastating effect a major breach would have on an organization’s reputation, firms have invested heavily in IT security, with this again driving the creation of new, specialist jobs.
One other major change brought about by new technology has been the increasingly globalized nature of the financial services industry. Technology means, for instance, that while not so long ago, London and New York were almost alone as the world’s only major financial hubs, these days, Dubai, Hong Kong, Sao Paolo and Sydney have all caught up, with many of the biggest players in the sector now enjoying a truly global presence, able to conduct transactions anywhere, anytime.
