How Modern Technology Has Helped Several Industries Show Tremendous Growth
Technology has developed quite rapidly in the last 20 years or so; we have seen the rise of the Internet and smartphones and numerous other gadgets and electronics. The introduction of new and innovative technology has changed industries dramatically, some of which are thriving while others are barely hanging on. Most industries, such as retail, banking and insurance and even transportation have been forced to adapt in order to survive in such a competitive environment. Some of the changes that have occurred due to technological advancement are very noticeable whereas there are also some that fly under the radar.
Some of the industries that have greatly benefited from modern technology and have experienced tremendous growth are discussed below:
One of the oldest professions in the world is farming and it is also the most important one as it provides us with food. Most of the work done in this field was manual for a long time, but development of technology over the years has meant that numerous work-related activities have been automated. Some of the changes are not very complex such as the use of tractors for ploughing fields. Some changes have been major such as the use of drones for collecting information about crops and the use of robots for watering crops or spraying insecticides and pesticides. Normally, these tasks were performed by laborers, but mechanized devices have resulted in less cost and increase in the returns on investment.
Even though it has undergone a myriad of changes, it is given that travel is and will always be a huge industry. Technology has brought about advancement in this industry as the Internet has made it easier and more convenient to book your flight, hotel and make other travel arrangements online. Gone are the days when you had to head out to a travel agency for all these tasks. You can sit in an office or home and just deal with them without any hassle. Use of smartphones and devices like tablets has also helped as they can be used for checking flight delays, popular locations, etc. While the use of travel agencies has reduced, the industry has grown as people now find it easier to travel, thanks to the Internet.
Over the years, the healthcare industry has evolved by a huge extent. New laws and regulations and modern technology has changed the industry. New equipment and machines have been developed to make it easier to diagnose health issues through non-invasive methods and reach an accurate conclusion. Smart pills have also been introduced to make treatment effective. A horde of gadgets has also been added to the healthcare industry for helping in keeping track of fitness levels of individuals and signaling if there is any problem. There is an increase in demand for experts to manage and use the equipment leading to more growth in the industry.
One of the first industries that embraced modern technology was the automotive industry. Technology has had an impact on how cars are built, manufactured, operated, maintained and repaired. Every year, new methods are introduced for making cars easier to fix, safer and to make them more efficient. Some of the major changes we have seen in the automotive industry include the development of self-driving cars. Apart from that, camera and sensor technology has been used in car development for the creation of smart dashboards and for introducing features like gesture control. Tracking technology and other security features have also been enhanced. Today, it has also become easier for people to sell a car and buy a new one. There are so many websites available that not just offer people the facility of listing cars for sale, but also give people several options to choose the best one.
There has been noticeable changes in the music industry in the past 20 years. It started with CDs wiping out cassettes and then CDs neared their death due to the widespread use of MP3 players and digital downloads. The music industry has now embraced digital music completely. Thanks to the Internet, songs and albums of musicians, singers and other artists can be found online. There are now music streaming services as well such as Spotify that provide all the music in one place for a small subscription price.
There has been a significant transformation in the transport industry. There has been a rapid growth in population, which has boosted the demand for transportation infrastructure. Intelligent transportation systems have been developed for traffic management to ensure driving is safer and better. The new transportation technologies that have emerged include autonomous and connected vehicles, keyless fleet management, alternative fuels and traffic analytics. Real-time traffic management has become easier through on-road communications. The introduction of car-hailing apps such as Uber and Lyft have also revolutionized the way people travel these days and has created hundreds of new job opportunities.
In a nutshell, modern technology is constantly changing various industries and pushing them to thrive and survive in a better way.