The e-era or electronic era is upon us. It’s the age of email, e-books, e-cigarettes, e-commerce … e-everything. Technology is playing a significant role in many aspects of everyday life. In fact, several sectors have already been reshaped as technology played a more prominent role in them. These include communications, photography, banking, home/personal entertainment, music/movie distribution, and even gambling.
The effect of the e-era in communications is quite apparent. Internet-based communication such as web chat is now becoming more popular than traditional calls and SMS. The film has almost become extinct in the field of photography. Online banking has financial transactions exponentially better for everyone. Everyone can now buy and enjoy music, movies, and TV shows through their smartphones and tablets. Online gambling is now prevalent, with some using cryptocurrency to be anonymous.
Sectors and industries that will significantly be better
Still, there are industries and sectors that are expected to morph into something significantly different and better as they integrate advanced tech with them.
Yes, cars and other vehicles are already a form of technology. However, the addition of more advanced tech to them is expected to reshape the automotive industry. Think self-driving cars.
These autonomous or driverless cars feature numerous sensors to make them aware of their environment. These include computer vision, Lidar, GPS sonar, radar, motion sensors, and inertial measurement technology. These cars are equipped with advanced control systems and artificial intelligence to identify the best navigation paths, deal with obstacles, and respond to relevant signage on the road.
Various self-driving car makers have already tested their prototypes on the road.
- Google’s Waymo driverless car has already started testing on public roads since November 2017.
- In May 2018, Toyota announced plans to test their driverless cars at a new proving ground in Michigan.
- Apple has been testing its self-driving cars, with 45 vehicles undertaking a rigorous evaluation process after the company obtained more permits in California.
- BMW has boosted its driverless car program by doubling the number of cars being tested.
- General Motors is considered one of the leaders in the autonomous car race. It announced plans to test its fleet in New York.
The mass deployment of self-driving cars is close to becoming a reality. It’s no longer mere science fiction depicted in movies or literature. The safety, traffic, welfare, cost, and various other advantages it can potentially create are too significant to be ignored.
In light of these advancements, understanding the financial implications of accidents or damages becomes crucial. This is where a total loss calculator can be an invaluable tool for assessing the economic impact of such incidents on autonomous vehicles.
In a 2016 survey, 66% of the respondents said that autonomous cars are “probably smarter than the average human driver.” Only 13% expressed the opinion that these driverless cars don’t provide advantages.
Governments may have the notoriety of being slow in adopting technological advancements, but many examples demonstrate how governments have changed forever with tech infusion. These are not just about the computerization of government records and the convenience of having agencies and offices connected to the internet. There are newer technologies that are expected to change the way people deal with governments.
- Blockchain technology can facilitate better transparency in government. It can be used to combat corruption. Integrating blockchain tech in the system of responding to public requests for information and documents (except those aptly classified confidential) allows the public to have greater participation in holding governments accountable.
- Blockchain can help simplify and secure elections. More studies are needed to fully affirm the reliability and viability of blockchain-based polls. However, earlier tests show great promise. Some are even saying that it can be the answer to election tampering.
- Automation can eliminate simple jobs, but it can also create more. The use of chatbots and AI may take away jobs from the so-called “white collar pencil pushers,” but with this comes the opportunity to create positions that require human-level cognition and decision making. It’s a way of encouraging people to obtain education or training to be more suitable for better positions in the government labor force.
- Technology improves government mobility. Government mobility refers to the ease of dealing with government agencies or offices aided primarily by mobile devices. This means the use of smartphones, apps, and mobile networks to enable conveniences such as web-based applications, document filing, inquiries, and alerts.
The impact of technology on how economies operate is something everybody is already aware of. Online stores, web-based services, and faster business transactions through the internet are already a reality. Still, there are more changes to come as new technologies in the e-era emerge and mature.
- Cryptocurrency may be experiencing ups and downs recently, but it is set to grow and become more prominent in the modern economy. It’s not going into oblivion as governments and numerous businesses in different parts of the world have already started acknowledging its importance. Many stores already accept cryptocurrency payments and governments have been formulating policies and regulations to make sure that the rise of bitcoins and altcoins does not lead to an economic disaster.
- Artificial intelligence and automation technologies can make businesses more efficient and take away some jobs from humans in the process. There are fears in the adoption of AI and automation. However, research shows that tech disruption is good for the economy. Tech promotes economic growth and innovation that increases total wealth. Some jobs may be taken over by machines, but they are replaced with new opportunities for employees and more robust economies that benefit everyone.
- Big data and more advanced analytics help keep the global economy on track. Businesses anywhere around the world entail risks and uncertainties. Fortunately, there are governments and institutions that keep track of economic developments and regulate commerce and swing trading alert service to prevent economic turmoil or challenges from worsening into a global crisis. With big data and sophisticated analytics, it becomes easier to detect economic problems so they can be promptly addressed before they aggravate into disastrous consequences.
Aside from the development of new healthcare tools, equipment, and procedures, technology changes the health industry for the better in a number of ways.
- The healthcare industry has its special version of the Internet of Things (IoT). It’s called the Internet of Medical Things (IoMT), and it is set to deliver more conveniences and efficiencies. IoMT can be used to enhance health monitoring, information, and notification. They can be used to improve the delivery of health services significantly. With them, healthcare data can be sourced and analyzed more easily so issues are identified and resolved before they become critical.
- Telemedicine is also a big boost for the healthcare sector as makes it possible to diagnose, monitor, or even treat patients remotely. It may not completely supplant traditional visits and examination by doctors, but it tremendously improves access to health services.
- Big data and analytics, moreover, play a vital role in improving the healthcare industry by being instrumental in the formulation of ways for the following:
- Reduction of healthcare costs
- Minimization of wastage
- Prediction and detection of epidemics
- Control of mortality in different types of diseases
- Quality of life improvement
- Formulation of more efficient processes
- Development of new pharmaceutical solutions, therapies, and diagnostic and treatment procedures
It’s also worth noting how advancements in technology continue to improve challenges in current healthcare setups like in the case of digitized health records being constantly hounded by cyber threats. Medical technologies are far from perfect, but they continue improving and providing advantages that offset the drawbacks.
Someday, going to a physical school building may already become optional. Many schools already provide remote study options. However, due to imperfections or shortcomings in current pedagogical technologies, an entirely web-based educational system is still a rarity.
Things are bound to change in the future as new learning technologies are developed and perfected.
- Blockchain may be used in online education to guarantee the integrity of academic records while ensuring transparency. This technology prominently used in cryptocurrency can likewise be used to create a system where students unlock or earn badges after completing tasks or learning modules. Additionally, it can be used for smart contracts that mean a significant reduction in academic paperwork.
- Virtual and augmented reality tech can be made even more life-like to provide more immersive experiences to remote learners. Additionally, with further developments, these technologies can be made cheaper to become accessible to more students.
- Cloud computing and synchronization will effectively kill the “My dog ate my homework excuse.” It can also mean that books and other learning materials no longer have to be physically carried as they can be securely stored on the cloud. There are those who argue that reading physical books is irreplaceable and that students absorb knowledge better when they use their hands to write and skim through physical pages of reading materials. The point here, though, is to provide alternatives and conveniences. For students who think they learn better using the old ways, there’s always the option to have digital documents printed out.
- In addition to the advantages for learners, technology can also revolutionize the education sector by providing better systems for academic institutions. This means the use of technology to improve student admissions, evaluation, billing, and credentialing. Processes can be made more efficient and easier without compromising security.
Technology mostly creates positive effects across industries. It’s just a matter of taking advantage of it and using tech advancements for the right purposes. The e-era entails changes that shouldn’t be feared. Instead, everyone should be open to discussing and testing them to find out whether or not they should be adopted and improved further.
Inherently disruptive, technology introduces new ways, tools, and processes that bring about significant changes. However, some things cannot be rushed with technological augmentation.
The language services sector
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