impact of technology on business essay

Impact of Technology on Business Essay

Past impact, future impact, works cited.

If you’re wondering how digital technology changes society in the area of business, this essay will help you figure it out. You’ll consider its positive and negative impacts on global organizations and the overall environment.

Technology has had a transformative effect on businesses, which, so far, has been revolutionary. Organizations, both small and large, use technologies such as the World Wide Web (WWW), computers, websites, Artificial Intelligence (AI), servers and even personal digital devices to make their work easier. These tools can give them the invaluable competitive advantage that all businesses strive to achieve.

Future technology will indubitably revolutionize business once again. It has grown to become an inseparable part of any company. So that you see all the real and possible impacts of technology on business, this essay will analyze how electronics and other machinery have already affected the field and are expected to affect it in the future.

One aspect of technology that has been harnessed well for use in businesses is Artificial Intelligence (AI). For the last ten years, virtually all businesses have had their processes automated though the use of AI in Management Information Systems (MIS). This automation function is also found in various computer applications that are used by contemporary businesses. Examples of the latter include word-processing software, spreadsheets etc.

The aforementioned automation features in programs and software have enabled businesses to achieve goals that were difficult to achieve before the advent of technology. For instance, automation has enabled businesses to avoid errors, process more information and achieve efficiency in their processes (Vitez 1).

In addition to the automation function, technology has revolutionized communication in businesses. In today’s business world, Information Communication Technologies (ICTs) are common. The use of the WWW has introduced easy means of communication that include texting, use of “apps” in personal digital devices, use of interactive websites, etc.

These features of ICTs have eased communication within businesses, communication with various stakeholders and communication with customers. The latter is perhaps the most important for businesses.

This is because it gives businesses a chance to advertise their products and services in a cost-effective way, identify target markets, compare the popularity of their products with the popularity of other competing products in the market and receive customer feedback about their products and services (Vitez 1). Generally, all these communication opportunities give a business a chance to expand its market, which will lead to more profitability for the business.

For instance, instead of concentrating in the local markets, businesses use retail websites to reach national, regional and international markets. Business organizations have also developed websites in which their customers and various stakeholders can access the information they require. This has led to reduced communication costs for businesses.

The communication aspect of technology has also enabled businesses to utilize the local and international business environment by outsourcing their functions. This has helped businesses in concentrating on their core business leading to reduced costs, more productivity and more profitability in the long run. The most common functions that organizations choose to outsource include customer service and technical support (McGrath 2), which are obviously support services for business organizations.

Another way in which technology has revolutionized business in the past is in records management. In the past, documents and records were kept in cabinets and drawers. In contemporary businesses however, businesses use computer storage hardware such as hard disks, flash disks, Compact Disks (CDs), memory cards, Digital Video Disks (DVDs), etc.

The use of internet by businesses has also made it easier to transfer stored information from one department to another, or even to an external entity like a customer or even a supplier (McGrath 1).

The future of business technology will indubitably involve service-oriented systems designed to serve a decentralized business organization. This is because many businesses will be decentralized with an aim of increasing “collaboration across the enterprise with partners and customers” (“The future of business technology”, par. 5). This will especially be the case due to the convenience brought about by ICTs.

It is now possible to work from home or from a remote location using tablets, smart phones, Personal Digital Assistants (PDAs), etc. To exemplify the paradigm shift to service-oriented organizations, Information Technology (IT) providers will have to operate according to client needs as opposed to the conventional identification of a technological idea and the subsequent fitting of problems to the idea (“The future of business technology”, par. 5).

Another technological advancement that is likely to be harnessed for more opportunities in businesses particularly those dealing with medical issues is the combination of Computed Tomography (CT) with holography to solve health problems that have been a nightmare to the human race for a long time.

The use of CT together with holography gives an opportunity to construct internal organs in computers in order to perform pre-surgical evaluations to determine how a surgery can be successfully carried out. This will be resourceful for businesses dealing with health provision. The idea of holography can also be combined with Artificial Intelligence to create virtual humans who will be useful in performing risky functions like operating machinery or even being involved in war activities (Enzer 1).

Due to the increase in networked personal devices, there is a possibility of developing sensor networks that will use Artificial Intelligence to give sensitive information. For instance, the network could allow queries to know if a person is asleep, if a person is travelling at a high speed on a highway or even to establish if it is an appropriate time to make a video call to a certain person (Enzer 1).

If the current technological efforts succeed, it will be possible for a car to listen to conversations. This feature, combined with existent networking features, will make it easy for an organization to monitor its cars and know when they are being misused (Blum 1). In addition to this, machines may be able to communicate to humans in words and in writing in the future. This will ease operations in the manufacturing industry (Blum 1).

Future technology will come with knowledge demands for business managers. Managers in the Information Technology field will have to fully understand how they can integrate the ideas of Artificial Intelligence in new systems and mainstream Artificial Intelligence in technological inventions and innovations. In the medical field, managers will have to fully understand the applications of CT and how best they can use the information produced by applications and devices.

As evidenced in the discussion above, technology has had a revolutionary effect on businesses. In fact, technology can be considered as part and parcel of business operations. It is therefore expected that future technologies will have a more transformative effect on businesses than past technologies. Future managers will also have to acquaint themselves with future technology so that they do not lose their relevance in the market.

Blum, Jonathan. 10 Tech Trends Defining the Future of Small Business 2012 . Web.

Enzer, Georgina. Cisco predicts future technologies 2012 . Web.

McGrath, Jane. How has technology changed the way we conduct business? 2012 . Web.

The future of business technology 2011 . Web.

Vitez, Osmond. The Impact of Technological Change on Business Activity , 2012 . Web.

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Tech-Driven Triumph: Unleashing the Impact of Technology on Business Growth

Table of contents.

In the ever-evolving landscape of the global economy, The Impact of Technology on Business stands as a towering force driving business growth. From small startups to multinational corporations, the infusion of technological innovation has redefined what it means to be competitive and successful. This multifaceted phenomenon has led to increased efficiency, expanded markets, and new heights of strategy and service.

The rise of startup tools has automated mundane tasks, freeing human capital to engage in more complex problem-solving and decision-making processes. This shift has not only optimized operational efficiencies but also enhanced the capacity for data analytics, allowing businesses to tailor their strategies with precision. Moreover, technology has democratized access to global markets, enabling businesses to reach and engage with customers far beyond traditional geographic limits.

In the realm of communication, technology has broken down barriers, fostering collaboration and innovation at a pace previously unimaginable. This interconnectedness has spurred growth by catalyzing the exchange of ideas and best practices across industries and borders, showcasing the impact of technology on business.

As we look to the future, the trajectory of business growth is inextricably linked to technological progress. The businesses that adapt and harness the potential of emerging technologies will be the ones to thrive in this new digital era, marking a period of unprecedented opportunity and growth, emphasizing the impact of technology on business.

The advent of modern technology has transformed the business landscape, enabling companies to innovate, scale, and adapt to changing market dynamics. Technology’s impact on business growth is profound and multifaceted. Here are some key ways in which technology drives business growth, accompanied by illustrative examples, underscoring the impact of technology on business.

Enhanced Productivity and Efficiency: The Impact of Technology on Business

Enhanced productivity and efficiency are hallmarks of modern business operations, thanks to sophisticated automation tools and software , showcasing the impact of technology on business. These technologies have revolutionized traditional workflows, significantly reducing the time and resources needed for routine tasks. Customer Relationship Management (CRM) systems, such as Salesforce , exemplify this transformation by automating customer interactions and data management processes.

This automation facilitates a shift in focus for sales teams, enabling them to dedicate more time to strategic planning and cultivating deeper relationships with clients, illustrating the impact of technology on business.

The automation also leads to more personalized customer service, as the data analytics provided by CRMs offer insights into customer preferences and behaviors, allowing businesses to tailor their interactions to individual needs. This strategic shift is not just about saving time; it’s about enhancing the quality of business engagements and driving growth through improved customer experiences, underscoring the impact of technology on business.

Global Reach and Accessibility

In the digital age, the Internet has become the gateway to unparalleled global reach and accessibility for businesses, highlighting the profound impact of technology on business. It has dismantled geographical constraints, granting small enterprises the power to tap into international markets. E-commerce platforms like Shopify and Etsy exemplify this transformative potential, empowering artisans and retailers to showcase and sell their products to a worldwide audience, showcasing the impact of technology on business.

This accessibility not only expands market horizons but also fosters diversity and innovation in the business landscape, further emphasizing the impact of technology on business. Small businesses can now compete on a global scale, and consumers benefit from a wider array of unique and culturally diverse products and services, underscoring the far-reaching effects of technology on business growth.

Improved Communication and Collaboration

In the digital era, technological advancements in communication tools have fundamentally reshaped the way teams collaborate, highlighting the transformative impact of technology on business. This transformation transcends geographical boundaries, enabling remote and distributed teams to work together seamlessly, exemplifying the impact of technology on business operations. Tools like Slack, Zoom, and Microsoft Teams have not only increased productivity but also catalyzed a culture of innovation, showcasing how technology drives business growth.

Diverse talents from around the world can now unite effortlessly, contributing their unique perspectives to create a dynamic and interconnected workforce, further accentuating the impact of technology on business dynamics. This transcending of physical limitations fosters a culture of creativity and progress, where innovation knows no bounds. As we move forward, the synergy between technology and collaboration will continue to redefine how businesses operate and thrive, solidifying the enduring role of technology in shaping business success.

Data-Driven Decision Making

In the digital age, data-driven decision-making stands as the bedrock of success. Big data analytics serves as the compass, guiding businesses toward informed and strategic choices. Netflix’s exemplary use of data analysis serves as a testament to the transformative power of data. By delving deep into colossal datasets, businesses unearth profound insights into customer behaviors, preferences, and evolving trends.

These invaluable nuggets of wisdom steer the ship of product development, shape targeted marketing campaigns, and craft tailored customer experiences. The outcome? Heightened competitiveness, streamlined efficiency, and a perpetual wellspring of innovation—cornerstones upon which success thrives in the contemporary data-driven landscape. As businesses continue to navigate this digital sea, the mastery of data becomes not just a competitive edge but an essential survival skill in an ever-evolving world.

Innovation in Products and Services

Innovation in products and services is the very heartbeat of the modern business landscape, and it finds its life force in technology, underscoring the profound impact of technology on business growth. The fintech sector serves as a vivid example of this remarkable transformation, where the convergence of blockchain and mobile payment technologies has fundamentally rewritten the rulebook for financial services, showcasing the impact of technology on business operations. Trailblazing companies like PayPal and Square have harnessed these innovations, shaping them into seamless, secure, and disruptive payment solutions, further emphasizing the impact of technology on business.

This wave of innovation ripples across industries, challenging conventional norms and boundaries, and illustrating the impact of technology on business dynamics. Technology, in its relentless pursuit of the extraordinary, ushers in an era characterized by unprecedented creativity and a steadfast commitment to customer-centric offerings, highlighting the impact of technology on business innovation. It’s not merely about staying ahead; it’s about setting the pace for the future and demonstrating the forward-looking impact of technology on business growth.

This unyielding dedication to innovation is not just a response to evolving customer needs; it’s a catalyst for economic growth and global competitiveness, reinforcing the transformative impact of technology on business success. As technology continues to evolve, so does the canvas upon which businesses paint their visions of progress, propelled by the inexhaustible wellspring of innovation, signifying the enduring role of technology in shaping the future of business.

Enhanced Customer Experiences

Enhanced customer experiences are at the heart of AI and machine learning advancements . Amazon’s recommendation engine, driven by these technologies, creates tailored shopping journeys by analyzing browsing and purchase histories. This personalization not only boosts sales but also deepens customer engagement and loyalty.

The application of AI and machine learning extends far beyond e-commerce, influencing sectors like healthcare, entertainment, and finance, where personalized services are becoming the norm. As technology continues to evolve, so too will the potential to deliver extraordinary, individualized experiences that cater to the unique needs and preferences of customers, ultimately driving business growth.

Scalability of Services

In the digital age, the scalability of services is seamlessly orchestrated by the symphony of cloud computing. Leading providers like AWS and Azure orchestrate dynamic cloud solutions, enabling businesses to calibrate their IT resources with the precision of a conductor. This nimble resource allocation, tailored to growth spurts or surges in demand, translates into more than cost-effective operations—it’s a springboard for innovation.

The reallocation of resources towards strategic initiatives fuels the engine of progress. The cloud, with its transformative power, becomes the anchor for businesses navigating the stormy seas of dynamic market demands. It bestows the agility and efficiency needed to outmaneuver competitors in the ever-evolving landscape, setting the stage for sustained growth and competitive dominance.

Cost Reduction

Cost reduction through technology is not just a choice; it’s a strategic imperative in today’s fiercely competitive business landscape. Digital marketing campaigns are a prime example, where they not only offer cost-effectiveness but also provide an unparalleled level of measurability.

The precision with which audiences can be targeted, performance tracked, and strategies optimized in real-time represents a transformative shift in advertising effectiveness. Beyond the marketing realm, automation and digitization ripple through operations, streamlining supply chains, and chiseling away at overhead costs.

Businesses that embrace technology-driven cost control not only bolster profitability but also acquire the agility required to flourish in a relentlessly competitive environment. It’s a blueprint for not just growth but for enduring and sustainable success in a world where adaptation is the key to survival.

Increased Security

Enhanced cybersecurity is paramount in safeguarding businesses against evolving online threats. Companies like Crowdstrike are at the forefront, providing cutting-edge solutions that fortify defenses and protect sensitive data. Beyond preserving customer trust and business continuity, robust cybersecurity is vital in maintaining regulatory compliance.

The constant innovation in this field ensures that businesses can stay one step ahead of cyber adversaries, safeguarding their operations, reputation, and the confidentiality of customer and proprietary information. As technology advances, so too must cybersecurity measures to fortify the digital fortresses that underpin modern business growth and resilience.

Competitive Advantage

Staying ahead in the digital age often means securing a competitive advantage through technological innovation. Tesla’s pioneering efforts in battery technology and automation have catapulted it to a leadership position in the electric vehicle market. Such investments not only drive product excellence but also position a company as an industry leader.

Beyond products, technological advancements can optimize processes, reducing costs and increasing efficiency, further solidifying a competitive edge. Businesses that continuously embrace and integrate cutting-edge technology into their strategies are well-positioned to thrive in a rapidly evolving and fiercely competitive marketplace, setting the stage for sustainable growth and success.

Technology’s role as a catalyst for business growth cannot be overstated. It serves as the linchpin for achieving unparalleled efficiency gains, expanding market horizons, and fostering a culture of relentless innovation. Businesses that embrace and harness the full potential of technological advancements are not merely participants in the market; they become industry leaders. By continually adapting to the ever-changing tech landscape, companies can not only achieve their growth objectives but also create lasting value for customers.

This commitment to innovation positions them as formidable competitors, ensuring a prominent and enduring presence in the marketplace. The future belongs to those who understand that, in the digital age, technology is not just a tool; it’s the driving force behind transformative business growth.

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The Impact of Technology on Business: Staying Ahead in a Digital World

The world of business has been revolutionised by technology in the past few decades. From the way we conduct transactions to the way we communicate with customers, technology has changed the way we do business. In today’s digital world, it’s essential to stay ahead of the curve and embrace the latest technologies to remain competitive. In this article, we’ll take a look at the role of technology in business today, the advantages of using technology in business, and provide tips on how to keep up with the rapid pace of technological advancements.

The Role of Technology in Business Today

Technology has transformed the way businesses operate in several ways. The most significant impact of technology has been on communication. With the internet, businesses can reach customers all over the world, breaking down geographical barriers. Social media platforms have made it easier for businesses to engage with customers, build their brand, and drive sales. Technology has also improved productivity and efficiency in the workplace, with automated processes reducing the time and resources needed for tasks.

Advantages of Using Technology in Business

There are several advantages to using technology in business. One of the most significant benefits is increased efficiency. Automation and digital processes have replaced manual processes, freeing up time and resources that can be better spent elsewhere. Technology has also improved communication, making it easier for businesses to collaborate with team members and customers across the globe. Additionally, technology has enabled businesses to reach new customers, build their brand, and increase revenue through online platforms.

Tips to Keep Up with the Rapid Pace of Technological Advancements

Staying up to date with the latest technologies can be a daunting task, but it’s essential to remain competitive in today’s digital world. One way to stay ahead is by attending conferences and networking events where you can learn about the latest technologies and trends. Another tip is to invest in training for your employees, so they can learn new skills and stay up to date with the latest technologies. Finally, it’s essential to be open to change and innovation, embracing new technologies rather than resisting them.

In conclusion, technology has had a significant impact on the way businesses operate, and it’s essential to stay ahead of the curve to remain competitive in today’s digital world. Advantages of using technology in business include increased efficiency, improved communication, and the ability to reach new customers. To keep up with the rapid pace of technological advancements, it’s important to attend, invest in training, and be open to change and innovation. By embracing the latest technologies, businesses can remain competitive and thrive in today’s digital world.

If you are looking to change in your organisation to keep up with technological advancements, CJPI’s Change Management Consultants can help.

This post has been published by the CJPI Insights Editorial Team, compiling the best insights and research from our experts.

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200-500 Word Example Essays about Technology

Got an essay assignment about technology check out these examples to inspire you.

Technology is a rapidly evolving field that has completely changed the way we live, work, and interact with one another. Technology has profoundly impacted our daily lives, from how we communicate with friends and family to how we access information and complete tasks. As a result, it's no surprise that technology is a popular topic for students writing essays.

But writing a technology essay can be challenging, especially for those needing more time or help with writer's block. This is where Jenni.ai comes in. Jenni.ai is an innovative AI tool explicitly designed for students who need help writing essays. With Jenni.ai, students can quickly and easily generate essays on various topics, including technology.

This blog post aims to provide readers with various example essays on technology, all generated by Jenni.ai. These essays will be a valuable resource for students looking for inspiration or guidance as they work on their essays. By reading through these example essays, students can better understand how technology can be approached and discussed in an essay.

Moreover, by signing up for a free trial with Jenni.ai, students can take advantage of this innovative tool and receive even more support as they work on their essays. Jenni.ai is designed to help students write essays faster and more efficiently, so they can focus on what truly matters – learning and growing as a student. Whether you're a student who is struggling with writer's block or simply looking for a convenient way to generate essays on a wide range of topics, Jenni.ai is the perfect solution.

The Impact of Technology on Society and Culture

Introduction:.

Technology has become an integral part of our daily lives and has dramatically impacted how we interact, communicate, and carry out various activities. Technological advancements have brought positive and negative changes to society and culture. In this article, we will explore the impact of technology on society and culture and how it has influenced different aspects of our lives.

Positive impact on communication:

Technology has dramatically improved communication and made it easier for people to connect from anywhere in the world. Social media platforms, instant messaging, and video conferencing have brought people closer, bridging geographical distances and cultural differences. This has made it easier for people to share information, exchange ideas, and collaborate on projects.

Positive impact on education:

Students and instructors now have access to a multitude of knowledge and resources because of the effect of technology on education . Students may now study at their speed and from any location thanks to online learning platforms, educational applications, and digital textbooks.

Negative impact on critical thinking and creativity:

Technological advancements have resulted in a reduction in critical thinking and creativity. With so much information at our fingertips, individuals have become more passive in their learning, relying on the internet for solutions rather than logic and inventiveness. As a result, independent thinking and problem-solving abilities have declined.

Positive impact on entertainment:

Technology has transformed how we access and consume entertainment. People may now access a wide range of entertainment alternatives from the comfort of their own homes thanks to streaming services, gaming platforms, and online content makers. The entertainment business has entered a new age of creativity and invention as a result of this.

Negative impact on attention span:

However, the continual bombardment of information and technological stimulation has also reduced attention span and the capacity to focus. People are easily distracted and need help focusing on a single activity for a long time. This has hampered productivity and the ability to accomplish duties.

The Ethics of Artificial Intelligence And Machine Learning

The development of artificial intelligence (AI) and machine learning (ML) technologies has been one of the most significant technological developments of the past several decades. These cutting-edge technologies have the potential to alter several sectors of society, including commerce, industry, healthcare, and entertainment. 

As with any new and quickly advancing technology, AI and ML ethics must be carefully studied. The usage of these technologies presents significant concerns around privacy, accountability, and command. As the use of AI and ML grows more ubiquitous, we must assess their possible influence on society and investigate the ethical issues that must be taken into account as these technologies continue to develop.

What are Artificial Intelligence and Machine Learning?

Artificial Intelligence is the simulation of human intelligence in machines designed to think and act like humans. Machine learning is a subfield of AI that enables computers to learn from data and improve their performance over time without being explicitly programmed.

The impact of AI and ML on Society

The use of AI and ML in various industries, such as healthcare, finance, and retail, has brought many benefits. For example, AI-powered medical diagnosis systems can identify diseases faster and more accurately than human doctors. However, there are also concerns about job displacement and the potential for AI to perpetuate societal biases.

The Ethical Considerations of AI and ML

A. Bias in AI algorithms

One of the critical ethical concerns about AI and ML is the potential for algorithms to perpetuate existing biases. This can occur if the data used to train these algorithms reflects the preferences of the people who created it. As a result, AI systems can perpetuate these biases and discriminate against certain groups of people.

B. Responsibility for AI-generated decisions

Another ethical concern is the responsibility for decisions made by AI systems. For example, who is responsible for the damage if a self-driving car causes an accident? The manufacturer of the vehicle, the software developer, or the AI algorithm itself?

C. The potential for misuse of AI and ML

AI and ML can also be used for malicious purposes, such as cyberattacks and misinformation. The need for more regulation and oversight in developing and using these technologies makes it difficult to prevent misuse.

The developments in AI and ML have given numerous benefits to humanity, but they also present significant ethical concerns that must be addressed. We must assess the repercussions of new technologies on society, implement methods to limit the associated dangers, and guarantee that they are utilized for the greater good. As AI and ML continue to play an ever-increasing role in our daily lives, we must engage in an open and frank discussion regarding their ethics.

The Future of Work And Automation

Rapid technological breakthroughs in recent years have brought about considerable changes in our way of life and work. Concerns regarding the influence of artificial intelligence and machine learning on the future of work and employment have increased alongside the development of these technologies. This article will examine the possible advantages and disadvantages of automation and its influence on the labor market, employees, and the economy.

The Advantages of Automation

Automation in the workplace offers various benefits, including higher efficiency and production, fewer mistakes, and enhanced precision. Automated processes may accomplish repetitive jobs quickly and precisely, allowing employees to concentrate on more complex and creative activities. Additionally, automation may save organizations money since it removes the need to pay for labor and minimizes the danger of workplace accidents.

The Potential Disadvantages of Automation

However, automation has significant disadvantages, including job loss and income stagnation. As robots and computers replace human labor in particular industries, there is a danger that many workers may lose their jobs, resulting in higher unemployment and more significant economic disparity. Moreover, if automation is not adequately regulated and managed, it might lead to stagnant wages and a deterioration in employees' standard of life.

The Future of Work and Automation

Despite these difficulties, automation will likely influence how labor is done. As a result, firms, employees, and governments must take early measures to solve possible issues and reap the rewards of automation. This might entail funding worker retraining programs, enhancing education and skill development, and implementing regulations that support equality and justice at work.

IV. The Need for Ethical Considerations

We must consider the ethical ramifications of automation and its effects on society as technology develops. The impact on employees and their rights, possible hazards to privacy and security, and the duty of corporations and governments to ensure that automation is utilized responsibly and ethically are all factors to be taken into account.

Conclusion:

To summarise, the future of employment and automation will most certainly be defined by a complex interaction of technological advances, economic trends, and cultural ideals. All stakeholders must work together to handle the problems and possibilities presented by automation and ensure that technology is employed to benefit society as a whole.

The Role of Technology in Education

Introduction.

Nearly every part of our lives has been transformed by technology, and education is no different. Today's students have greater access to knowledge, opportunities, and resources than ever before, and technology is becoming a more significant part of their educational experience. Technology is transforming how we think about education and creating new opportunities for learners of all ages, from online courses and virtual classrooms to instructional applications and augmented reality.

Technology's Benefits for Education

The capacity to tailor learning is one of technology's most significant benefits in education. Students may customize their education to meet their unique needs and interests since they can access online information and tools. 

For instance, people can enroll in online classes on topics they are interested in, get tailored feedback on their work, and engage in virtual discussions with peers and subject matter experts worldwide. As a result, pupils are better able to acquire and develop the abilities and information necessary for success.

Challenges and Concerns

Despite the numerous advantages of technology in education, there are also obstacles and considerations to consider. One issue is the growing reliance on technology and the possibility that pupils would become overly dependent on it. This might result in a lack of critical thinking and problem-solving abilities, as students may become passive learners who only follow instructions and rely on technology to complete their assignments.

Another obstacle is the digital divide between those who have access to technology and those who do not. This division can exacerbate the achievement gap between pupils and produce uneven educational and professional growth chances. To reduce these consequences, all students must have access to the technology and resources necessary for success.

In conclusion, technology is rapidly becoming an integral part of the classroom experience and has the potential to alter the way we learn radically. 

Technology can help students flourish and realize their full potential by giving them access to individualized instruction, tools, and opportunities. While the benefits of technology in the classroom are undeniable, it's crucial to be mindful of the risks and take precautions to guarantee that all kids have access to the tools they need to thrive.

The Influence of Technology On Personal Relationships And Communication 

Technological advancements have profoundly altered how individuals connect and exchange information. It has changed the world in many ways in only a few decades. Because of the rise of the internet and various social media sites, maintaining relationships with people from all walks of life is now simpler than ever. 

However, concerns about how these developments may affect interpersonal connections and dialogue are inevitable in an era of rapid technological growth. In this piece, we'll discuss how the prevalence of digital media has altered our interpersonal connections and the language we use to express ourselves.

Direct Effect on Direct Interaction:

The disruption of face-to-face communication is a particularly stark example of how technology has impacted human connections. The quality of interpersonal connections has suffered due to people's growing preference for digital over human communication. Technology has been demonstrated to reduce the usage of nonverbal signs such as facial expressions, tone of voice, and other indicators of emotional investment in the connection.

Positive Impact on Long-Distance Relationships:

Yet there are positives to be found as well. Long-distance relationships have also benefited from technological advancements. The development of technologies such as video conferencing, instant messaging, and social media has made it possible for individuals to keep in touch with distant loved ones. It has become simpler for individuals to stay in touch and feel connected despite geographical distance.

The Effects of Social Media on Personal Connections:

The widespread use of social media has had far-reaching consequences, especially on the quality of interpersonal interactions. Social media has positive and harmful effects on relationships since it allows people to keep in touch and share life's milestones.

Unfortunately, social media has made it all too easy to compare oneself to others, which may lead to emotions of jealousy and a general decline in confidence. Furthermore, social media might cause people to have inflated expectations of themselves and their relationships.

A Personal Perspective on the Intersection of Technology and Romance

Technological advancements have also altered physical touch and closeness. Virtual reality and other technologies have allowed people to feel physical contact and familiarity in a digital setting. This might be a promising breakthrough, but it has some potential downsides. 

Experts are concerned that people's growing dependence on technology for intimacy may lead to less time spent communicating face-to-face and less emphasis on physical contact, both of which are important for maintaining good relationships.

In conclusion, technological advancements have significantly affected the quality of interpersonal connections and the exchange of information. Even though technology has made it simpler to maintain personal relationships, it has chilled interpersonal interactions between people. 

Keeping tabs on how technology is changing our lives and making adjustments as necessary is essential as we move forward. Boundaries and prioritizing in-person conversation and physical touch in close relationships may help reduce the harm it causes.

The Security and Privacy Implications of Increased Technology Use and Data Collection

The fast development of technology over the past few decades has made its way into every aspect of our life. Technology has improved many facets of our life, from communication to commerce. However, significant privacy and security problems have emerged due to the broad adoption of technology. In this essay, we'll look at how the widespread use of technological solutions and the subsequent explosion in collected data affects our right to privacy and security.

Data Mining and Privacy Concerns

Risk of Cyber Attacks and Data Loss

The Widespread Use of Encryption and Other Safety Mechanisms

The Privacy and Security of the Future in a Globalized Information Age

Obtaining and Using Individual Information

The acquisition and use of private information is a significant cause for privacy alarm in the digital age. Data about their customers' online habits, interests, and personal information is a valuable commodity for many internet firms. Besides tailored advertising, this information may be used for other, less desirable things like identity theft or cyber assaults.

Moreover, many individuals need to be made aware of what data is being gathered from them or how it is being utilized because of the lack of transparency around gathering personal information. Privacy and data security have become increasingly contentious as a result.

Data breaches and other forms of cyber-attack pose a severe risk.

The risk of cyber assaults and data breaches is another big issue of worry. More people are using more devices, which means more opportunities for cybercriminals to steal private information like credit card numbers and other identifying data. This may cause monetary damages and harm one's reputation or identity.

Many high-profile data breaches have occurred in recent years, exposing the personal information of millions of individuals and raising serious concerns about the safety of this information. Companies and governments have responded to this problem by adopting new security methods like encryption and multi-factor authentication.

Many businesses now use encryption and other security measures to protect themselves from cybercriminals and data thieves. Encryption keeps sensitive information hidden by encoding it so that only those possessing the corresponding key can decipher it. This prevents private information like bank account numbers or social security numbers from falling into the wrong hands.

Firewalls, virus scanners, and two-factor authentication are all additional security precautions that may be used with encryption. While these safeguards do much to stave against cyber assaults, they are not entirely impregnable, and data breaches are still possible.

The Future of Privacy and Security in a Technologically Advanced World

There's little doubt that concerns about privacy and security will persist even as technology improves. There must be strict safeguards to secure people's private information as more and more of it is transferred and kept digitally. To achieve this goal, it may be necessary to implement novel technologies and heightened levels of protection and to revise the rules and regulations regulating the collection and storage of private information.

Individuals and businesses are understandably concerned about the security and privacy consequences of widespread technological use and data collecting. There are numerous obstacles to overcome in a society where technology plays an increasingly important role, from acquiring and using personal data to the risk of cyber-attacks and data breaches. Companies and governments must keep spending money on security measures and working to educate people about the significance of privacy and security if personal data is to remain safe.

In conclusion, technology has profoundly impacted virtually every aspect of our lives, including society and culture, ethics, work, education, personal relationships, and security and privacy. The rise of artificial intelligence and machine learning has presented new ethical considerations, while automation is transforming the future of work. 

In education, technology has revolutionized the way we learn and access information. At the same time, our dependence on technology has brought new challenges in terms of personal relationships, communication, security, and privacy.

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Impact of Information Technology on Business

Updated 28 September 2023

Subject Technology

Downloads 27

Category Information Science and Technology ,  Science

The advancement in technology has permeated the world and is applied by everyone and every organization. It has enabled innovations, inventions, and breakthroughs in the world. Businesses have not been left behind in embracing technology. Through these, they have managed to produce goods and services effectively and efficiently through cost savings. The timely production has enabled them to address customer needs satisfactorily. Consequently, allowing the firms to generate a lot of revenue that is vital for their success and competition in the marketplace.

 The adoption of technology in the business has been manifested entrenched in business departments such as production, manufacturing, marketing, finance, research and development, and customer service.

Communication has been made easy giving the business an opportunity to reach the market efficiently. This has made advertising aimed at informing customers of the existence of new products and its features easy. This has enabled the businesses to increase their market share by penetrating their existing markets while at the same time venturing into new ones.

The impact of technology on business is two-fold due to its merits and demerits. Information technology cannot be only having positive effects since its negative sides are also felt by the organizations that adopt it.

The essay will be based on three influences of information technology on the positive and negative side. Additionally, the evidence regarding the two sides have been indicated from studies in paragraphs.

The use of information technology enables a business to maintain its data in an organized fashion. The technology can allow them to store voluminous data in a safe and retrievable manner. It allows the business to retrieve the data within a short period which could prove difficult in a manual (Huizingh, 2011, p.2). Additionally, it enables a business to have some details about its customers which enables it to conduct data mining that is helpful in performing promotions, adverts, and marketing. This attribute makes its work easy especially in large organizations that require a lot of data pertaining to the organization`s details. Moreover, an organization can use the financial data to establish the performance trends of the organization thus project its future performance accurately.

Data security can be abused when critical personal details about customers leak to the public. Through this, the privacy of an individual gets violated. This happens when the system gets hacked or when an employee discloses some information to third parties (Gilman, 2009, p.27). The hackers use the information to harass and stalk the business` customers. This can be through the use of their phone numbers, knowledge of their residential areas or financial strength. In other instances, the organization can use it to monitor its employees which may hamper the productivity of employees. The managers normally do this through the instilling of closed-circuit television in some areas of the business. The privacy can also be violated by putting software in the organization`s server that monitors what every employee does with the computers. This can be used to determine the sites visited by an employee, the number of people he or she chatted with which makes such employees vulnerable in the business.

The use of data through what is referred to as open innovation has made businesses thrive (Huizingh, 2011, p.3). This has been made possible by using the information from customers to improve their products. This is a classic example of how an organization can tap from the knowledge of the external environment to advance its course. This process enables the organization to understand the market, its needs, trends, and design its products to meet the specified requirements of its customers. Additionally, it will learn from its competitor the business tricks involve in the trade and develop them into its system for posterity. The use of information technology in business is vulnerable to external hacking like in the case of the banking industry (Gilman, 2009, p.27). It gets negative when criminals use the technology in advancing their plight. The examples have been to use the employee details to withdraw money from their accounts, extort money by use of mobile phones, and encrypt their debit cards with the aim of siphoning money from their accounts.

The positive impact of information technology regarding data in the finance department is its ability to source for funds from financial organizations and banks (Nanehkaran, 2003, p.192). This comes in handy when a business is facing financial problems, or would wish to expand its operations. The economic data gets vital as it enables the financial institutions to gauge the performance of the business within a short time.

The use of technology enhances the efficiency

Whenever an organization acquires technology, its work is made easy. This can be felt from the ease of keeping records, access and retrieval of information, communication among departments, manufacturing, and processing of data. Through this, an organization is guaranteed of operating effectively without any interruptions (Dahlander, " Gann, 2010, p.699). When used in a manufacturing business, the goods become ready to the customer at the earliest time without any delay. This is achieved through the large-scale production of the products. This enhances the customer`s satisfaction and enables the business to attract more customers and generate extra revenue. Additionally, it becomes more competitive than its counterparts who have not adopted the technology.

The speed in processing of goods and services is dangerous to employees since it makes them lose their jobs. The technology`s ability to speed up tasks makes human labor irrelevant (Sandulli, Baker, " López-Sánchez, 2014, p.700). This arises due to its ability to do what more than ten people can do in a given duration. This makes the organization`s management to lay off some employees as a result of redundancy. Eventually, many people become jobless as a result of being compared to machines.

Moreover, the managers may consider the sacking of the employees as a form of savings to the organization (Sandulli, Baker, " López-Sánchez, 2014, p.702). In some occasions, the employees engage in unproductive activities such as sending non-business emails to one another at the expense of working for the organization. Apart from that, some waste time on social media such as Facebook, Skype, and Instagram. Furthermore, they stream live videos thus making them lazy due to substituting work with socialization.

It was noted that the use of information technology by small businesses does not necessarily lead into efficiency (Sandulli, Baker, " López-Sánchez, 2014, p.701). This is because organizations are guilty of mismatching jobs. This arises due to the inability of the persons in charge to streamline the organization effectively. This was established during the study of Spanish service firms. This is evidenced by giving employees jobs that they cannot perform by the assumption that the machines will work automatically. The inefficiency and redundancy forced some employees to be laid off.

The use of information technology as well as external interactions with other firms enables an organization to be efficient and compete favorably (Dahlander, " Gann, 2010, p.699). The efficiency is enhanced by learning from the other businesses and establishing the recent changes and development in technology. Through this, the business acquires an efficient gadget and replaces with an old, and inefficient machine that may slow operations and be costly for maintenance cost.

Cost Element

The adoption of technology by a business gives it an opportunity to save on cost and time. Concerning time, it enables the processes and procedures that are required to perform a task to be done in a shorter time (Nanehkaran, 2013, p.192). This would take longer durations in case of manual tasks. Regarding cost, the number of employees who could conduct an activity is significantly reduced thus saving on their payment.

The use of technology entails the acquisition of computers, laptops, software, and other sophisticated equipment. These items require the managers of the business to continuously train the staff on any new development in the system. Additionally, the cost of repair and maintenance drain the business financially (Waeyenbergh, " Pintelon, 2002, p.306). This arises from the replenishment of toners and cartridges whenever the toner gets finished. It also acts as a cost to incorporate the internet and Wifi into the business as it will entail periodical subscriptions regarding payment by the organization. Furthermore, it will get costlier if the employees take a lot of time watching videos on YouTube thus inflating the costs to higher levels.

It has been demonstrated that the use of technology enhances efficiency through the increase in the volume of production. Through this, this volume and efficiency, the use of fuel, electricity, and other overheads reduce significantly. Eventually, the business gets the opportunity to maximize its profits which would not be possible in case the work was to be done manually. This explains why manufacturing companies can work with few employees but still manage to make profits. The use of information technology has got its cost of maintenance (Waeyenbergh, " Pintelon, 2002, p.300). An organization needs to establish such maintenance costs and incorporate it into its budgets. These entail sourcing of its supplies every time it runs out of hand.

The application of information technology has got its positive and negative effect on an organization. The business managers are thus required to look into their organization and establish the central aspect of their venture that needs an input of technology. By doing so, they will enable the business balance between the cost and benefits of the technology. This will make the impact of technology on business change to the balance between information technology and business. Consequently, labor redundancies and the cost of acquisition, maintenance, and phasing off of technology will be considered for the good of the business in the future.

Waeyenbergh, G. and Pintelon, L., 2002. A framework for maintenance concept development. International journal of production economics, 77(3), pp.299-313.

Gilman, N., 2009. Hacking goes pro. Engineering " Technology, 4(3), pp.26-29.

Dahlander, L. and Gann, D.M., 2010. How open is innovation?. Research policy, 39(6), pp.699-709.

Nanehkaran, Y.A., 2013. An introduction to electronic commerce. International journal of scientific " technology research, 2(4), pp.190-193.

Huizingh, E.K., 2011. Open innovation: State of the art and future perspectives. Technovation, 31(1), pp.2-9.

Sandulli, F.D., Baker, P.M. and López-Sánchez, J.I., 2014. Jobs mismatch and productivity impact of information technology. The Service Industries Journal, 34(13), pp.1060-1074.

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The Impact Of Digital Technology On Business Today Essay Sample

Type of paper: Essay

Topic: Business , Technology , Information , Politics , Software , Environment , Company , Development

Words: 1700

Published: 01/16/2022

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Modern day business methods have undergone a revolutionary change in the last decade owing to changes in the global environment affecting almost all aspects of business. Throughout the world companies have realized that incorporation of these changes in their activities is necessary in order to stay ahead of their competitors and manage the affairs of business in an efficient manner. Because of the increasing competition and availability of numerous options for consumers businesses today understand that they have to reach more customers. This is not possible unless they are ready to adapt to the changing environment which means taking advantage of the opportunities presented to them by globalization and relaxation in the rules of doing business. There have been remarkable changes in both the external and internal scenario surrounding a business and in order to survive in the present environment business enterprises have to be informed about them as well as introduce them in their strategies. The major changes that have affected the world of business today are economic political, legal, technological, social and natural apart from the change in internal influence. Liberalization policies for out sourcing and foreign direct investments have enabled the enterprises expand their operations across the countries. There have been changes in law to allow entry of foreign made goods, currency and technology, through acquisitions, mergers and collaborations. Thinking of the ruling government has also affected the businesses to gain entries into market outside their own country. Joint Ventures of industries have also supported the exchange of technology between countries resulting in faster development and modernization. Because of growing awareness especially in developing countries, the socio cultural environment has also changed. People are becoming more active in protecting the cultural heritages of their countries from being harmed. Also there has been a protest from nature groups on allocating natural resources indiscriminately to industrial groups that endanger the ecological environment. Internal environment of work places has also changed; there are stricter rules on payment equality, racial discrimination and harassment. Development of management processes, software for assisting office administration, monitoring performance and rewarding methods show changing trends in concepts and the management has to incorporate these in their processes in order to avoid conflicts and function smoothly. Although all these elements are witnessing fast and massive changes, the most discernible change has been in the field of Technology; the invention of digital technology and software have given an entirely new dimension to manufacturing, engineering and data processing in business. Intelligent processes, which have been made possible by the explosion of digital technologies are set to reinvent much of the way that businesses are run—in as soon as the next five years (Thomas et.al, 2016).Today most businesses processes are carried out in the world with the help of digital technology like cell phones, social media, androids, big data, predictive software and cloud using the internet and other media. The best possible definition of Digital technology has been given in the NZCETA as ‘the use of digital resources to effectively find, analyze, create, communicate and use information in a digital context. This encompasses the use of web 2.0 tools, digital media tools, programming tools and software applications.’(2006).In common language, it is the technology that converts data into binary numbers and uses it to analyze and communicate in the desired language to the users. More than a billion people on Facebook, 5.6 billion mobile devices and more than $20.4 trillion dollars of business or 14% of all economic activity are transacted across digital resources A study of more than 2,200 companies indicated that digital technology supports an average 58% of their business processes. (McDonald and Rowsell-Jones, 2012) Looking at the figures above, businesses have to gear up to introduce digital technology in their business processes or be prepared to go dysfunctional soon. All functions of a business such as marketing, procurement of resources, sales and banking has become an altogether different experience using electronic systems. This has enabled us to perform activities faster across large distances more efficiently without the necessity of our physical presence. Digital or electronic markets enabled by websites have not only made buying and selling easier it has also presented the consumer with a variety of options which was not possible earlier. Delivery of goods has become possible through supply chain processes and payments are made through electronic banking, both enabled by digital technology. The same process is applicable to purchase also. There are websites that advertise for vacancies thus enabling recruitment through internet. Thus digital technology has made it possible for buyers and sellers come together on a common virtual platform something that was not heard of a few years before. Not only has the external business environment been influenced by digitization, the internal processes of a business organization has experienced a transformation as well. Sharing of information via intranet, using software to collect, coordinate and analyze information for decision making has given an impetus to management systems which was never foreseen. Digital processing of information has brought in more accuracy and speed in computation saving valuable time and efforts. This has resulted in more efficient performance of all administrative function. Digital technology supported machines have helped in manufacturing processes with more precision than before and helped in lowering the percentage of defectives. The sales department can get more accurate and dependable forecasts from analysis of last years’ performance or market trends using software. An MIS that coordinates information from all functions and makes it accessible to concerned groups is a product of digitization and has become indispensible for businesses especially in Banking and Government sectors. The advantages of using digital technology in running a business concern have many implications. It has made business transactions possible across the world, Transactions have become easier, faster and cheaper, it offers a wide variety of options to compare and choose from. It facilitates collection of information about a product or service regarding the reliability from comments of the users. Any information addressed to the stakeholders can be published on the social media so that it is available to all across the world saving the time and effort of the organization. A supply chain can be established using digital technology and payments and receipts can be mobilized immediately. Maintaining virtual files saves space and assists in accessing information anytime from anywhere. The advantages of installing digital system in internal processes consist of guaranteeing more accuracy and precision in information processing and deriving results since it is free of human bias. Forecasts are based on factual evidences and prove to be more reliable. It lowers the time taken to process data manually. Considering all these factors it becomes imperative for business concern to incorporate digital technology in their internal and external operations for getting better revenues and adding value to their products or service. Experts have observed that those who embrace digital technology have the opportunity to make their mark on the business, to innovate and steer company strategy (Goodwin. B, 2016). Experts have predicted that those companies who do not recognize the signs and introduce digitization can be pushed out of business pretty soon. Those who have the ability to foresee the tremendous impact digital technology is going to have on their businesses have already started to convert their operating systems into digital ones. For IT companies who already have an edge over others in availability of resources and knowledge this transition have been easy but for other companies the transformation may not be so smooth. The best possible way is to take the services of software companies or technicians and let this transformation be gradual. Installation of digital systems may need training of employees and their transfers across departments. In some cases it may necessitate laying off employees. This often leads employees to resist the change. It is better to train them in advance and convince them about the advantages of reducing time and effort. Customers and other business associates must also be helped through support centers to use the new system. Although digitization has a number of merits and in the changing environment it is necessary for businesses to convert from manual to digital, it has certain dangers also. One of the most common dangers of installing digital system is its misuse by hackers and cyber offenders. Companies that convert to digital technology must also take steps to ensure that the privacy of the users is protected. This can be done by using password protection or by installing software that detects spyware or malware. There are cases where entire systems have crashed because of virus that is a link that cause corruption of data and cause websites to fail. Misuse of cyber space by criminals to steal confidential information and other offenses is common. This can be avoided by installing antivirus software that restricts unwanted emails known as spam. There are laws that prohibit companies from using spam mails or filtering of information from websites for the use of advertising. Many countries ban websites containing objectionable material and make it a punishable offence. There are some dangers also from digital technology as information made available though the internet may be misused by offenders. Social media is often used to spread objectionable material or to attract potential victims. There is software that restrict children from accessing certain sites and that are linked with parents instruments for monitoring the children’s activities. In spite of all these faults, digital technology has become a must for conducting business in the modern environment and is expected to take every business function under its fold in future. Hence modern businesses should start using digitization in their activities to remain in business for a longer period.

Goodwin, Bill; (2016), The-digital-CIO-How-digital-technology-will-change-the-way-organisations-work, Computer Weekly retrieved from http://www.computerweekly.com/news/2240216339/The-digital-CIO-How-digital-technology-will-change-the-way-organisations-work McDonald, Mark P. and Rowsell-Jones, Andy (2012, November), Digital Business: How Technology Will Support Growth, Forbes, retrieved from http://www.forbes.com/sites/gartnergroup/2012/11/28/digital-business-how-technology-will-support-growth Thomas, Robert J., Kass, Alex & Davarzani, Ladan;(2016) How-digital-technologies-are-changing-the-way-we-work, Outlook, Retrieved from https://www.accenture.com/us-en/insight-outlook-how-digital-technologies-are-changing-the-way-we-work.aspx Enabling the 21st Learner, (2006), Ministry of Education, retrieved from, http://www.nzceta.co.nz/pages/digital_technologies.htm

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Essay on Impact of Technology on Society

Students are often asked to write an essay on Impact of Technology on Society in their schools and colleges. And if you’re also looking for the same, we have created 100-word, 250-word, and 500-word essays on the topic.

Let’s take a look…

100 Words Essay on Impact of Technology on Society

Introduction.

Technology has greatly influenced society. It has changed how we communicate, learn, and even how we live our daily lives.

Communication

Technology, like smartphones and the internet, has made communication faster and easier. We can now talk to people across the world instantly.

In education, technology has made learning more accessible. Online classes and educational apps have made it possible to learn from anywhere.

Everyday Life

In our daily lives, technology helps us do tasks more efficiently. For example, we use GPS for navigation and apps for shopping.

In conclusion, technology has a significant impact on society. It has made our lives easier and more connected.

250 Words Essay on Impact of Technology on Society

The technological revolution has dramatically reshaped society, impacting various sectors such as communication, education, health, and business. The advent of technology has brought about significant changes, both positive and negative, that are reshaping our world.

Positive Impacts

Technology has undeniably improved our lives, providing unprecedented convenience and efficiency. In the realm of communication, digital platforms have bridged geographical gaps, fostering global connectivity and collaboration. In education, e-learning tools have democratized access to knowledge, enabling lifelong learning irrespective of location or socio-economic background. In healthcare, advanced medical technologies have improved diagnostic accuracy and treatment efficacy, enhancing patient outcomes and quality of life.

Negative Impacts

However, the pervasive influence of technology also poses challenges. The digital divide, a disparity in access to technology, exacerbates social inequalities. The over-reliance on technology can lead to sedentary lifestyles, contributing to physical and mental health issues. Moreover, the rise of digital platforms has increased the risk of cybercrimes, privacy breaches, and misinformation, posing threats to personal safety and societal harmony.

In conclusion, the impact of technology on society is multifaceted, bringing both benefits and drawbacks. It is crucial for society to harness the positive potential of technology while mitigating its negative implications. This balance requires thoughtful policy-making, education, and a collective commitment to using technology responsibly and ethically.

500 Words Essay on Impact of Technology on Society

Technology has undoubtedly become an integral part of our daily lives, influencing every sector from communication to health, education to entertainment. The advent of technology has significantly transformed society, shaping the way we interact, learn, work, and live. While the benefits of technology are numerous, it has also raised several concerns that demand careful consideration.

Enhanced Communication and Information Access

One of the most profound impacts of technology on society is the revolution in communication. The emergence of smartphones, social media platforms, and the internet has made communication instantaneous and borderless. Today, we can effortlessly connect with someone on the other side of the world in real-time.

Moreover, the internet has democratized information access. Online resources and digital libraries have made it possible for anyone with internet access to learn almost anything. This has significantly reduced the barriers to education and knowledge, fostering a global culture of continuous learning.

Technology and Work

The way we work has been radically transformed by technology. Automation and artificial intelligence have replaced many traditional jobs, leading to fears of job loss. However, they have also created new roles that didn’t exist before, such as data analysts, AI specialists, and digital marketers.

Moreover, technology has facilitated remote work, allowing people to work from anywhere, thereby promoting work-life balance. However, this also blurs the line between work and personal life, leading to potential burnout.

Healthcare Advancements

Technology has revolutionized healthcare, leading to improved patient care and health outcomes. Innovations like telemedicine, electronic health records, and wearable health devices have made healthcare more accessible and personalized. However, these advancements also raise concerns about data privacy and security.

Social Implications

Technology has significantly influenced our social interactions. On the one hand, it has enabled us to stay connected with friends and family, no matter where they are. On the other hand, excessive use of technology can lead to isolation and mental health issues.

Moreover, the rise of fake news and cyberbullying on social media platforms is a growing concern, highlighting the need for digital literacy and ethical tech usage.

Environmental Impact

Technology also plays a crucial role in addressing environmental challenges. Innovations like renewable energy technologies, precision agriculture, and digital twins are helping us combat climate change and promote sustainable development. However, the production and disposal of electronic waste also pose significant environmental threats.

In conclusion, the impact of technology on society is multifaceted, bringing both opportunities and challenges. As we continue to innovate and evolve, it is crucial to foster a culture of responsible technology use, ensuring that technological advancements contribute to societal well-being and sustainable development.

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Home — Essay Samples — Information Science and Technology — Disadvantages of Technology — The Impact of Technology on Our Lives

The Impact of Technology on Our Lives

• Categories: Disadvantages of Technology Impact of Technology

About this sample

Words: 799 |

Published: Jan 29, 2024

Words: 799 | Pages: 2 | 4 min read

Table of contents

Impact on communication, effects on education, influence on work and productivity, influence on health and well-being, impact on society.

• Anderson, M., & Perrin, A. (2017, May 19). Tech Adoption Climbs Among Older Adults. Pew Research Center - Internet and Technology. https://www.pewresearch.org/internet/2017/05/17/technology-use-among-seniors/
• Brown, A. E., & Tiggemann, M. (2016). Attractive celebrity and peer images on Instagram: Effect on women’s mood and body image. Body Image, 19, 37-43. https://doi.org/10.1016/j.bodyim.2016.09.008
• Chen, Q., Liang, Y., & Deng, C. (2019). The effects of WeChat use on mental health among college students in China. Cyberpsychology, Behavior, and Social Networking, 22(12), 724-730. https://doi.org/10.1089/cyber.2019.0216
• Kim, L. E., & Caine, K. E. (2014). Help-seeking behavior in the context of suicidal ideation: A study of Facebook users. Journal of Affective Disorders, 155, 49-53. https://doi.org/10.1016/j.jad.2013.10.043

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The use and impact of surveillance-based technology initiatives in inpatient and acute mental health settings: A systematic review

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Background: The use of surveillance technologies is becoming increasingly common in inpatient mental health settings, commonly justified as efforts to improve safety and cost-effectiveness. However, the use of these technologies has been questioned in light of limited research conducted and the sensitivities, ethical concerns and potential harms of surveillance. This systematic review aims to: 1) map how surveillance technologies have been employed in inpatient mental health settings, 2) identify any best practice guidance, 3) explore how they are experienced by patients, staff and carers, and 4) examine evidence regarding their impact. Methods: We searched five academic databases (Embase, MEDLINE, PsycInfo, PubMed and Scopus), one grey literature database (HMIC) and two pre-print servers (medRxiv and PsyArXiv) to identify relevant papers published up to 18/09/2023. We also conducted backwards and forwards citation tracking and contacted experts to identify relevant literature. Quality was assessed using the Mixed Methods Appraisal Tool. Data were synthesised using a narrative approach. Results: A total of 27 studies were identified as meeting the inclusion criteria. Included studies reported on CCTV/video monitoring (n = 13), Vision-Based Patient Monitoring and Management (VBPMM) (n = 6), Body Worn Cameras (BWCs) (n = 4), GPS electronic monitoring (n = 2) and wearable sensors (n = 2). Twelve papers (44.4%) were rated as low quality, five (18.5%) medium quality, and ten (37.0%) high quality. Five studies (18.5%) declared a conflict of interest. We identified minimal best practice guidance. Qualitative findings indicate that patient, staff and carer perceptions and experiences of surveillance technologies are mixed and complex. Quantitative findings regarding the impact of surveillance on outcomes such as self-harm, violence, aggression, care quality and cost-effectiveness were inconsistent or weak. Discussion: There is currently insufficient evidence to suggest that surveillance technologies in inpatient mental health settings are achieving the outcomes they are employed to achieve, such as improving safety and reducing costs. The studies were generally of low methodological quality, lacked lived experience involvement, and a substantial proportion (18.5%) declared conflicts of interest. Further independent coproduced research is needed to more comprehensively evaluate the impact of surveillance technologies in inpatient settings, including harms and benefits. If surveillance technologies are to be implemented, it will be important to engage all key stakeholders in the development of policies, procedures and best practice guidance to regulate their use, with a particular emphasis on prioritising the perspectives of patients.

Competing Interest Statement

AS and UF have undertaken and published research on BWCs. We have received no financial support from BWC or any other surveillance technology companies. All other authors declare no competing interests.

Clinical Protocols

https://www.crd.york.ac.uk/prospero/display_record.php?RecordID=463993

Funding Statement

This study is funded by the National Institute for Health and Care Research (NIHR) Policy Research Programme (grant no. PR-PRU-0916-22003). The views expressed are those of the author(s) and not necessarily those of the NIHR or the Department of Health and Social Care. The funders had no role in study design, data collection and analysis, decision to publish, or preparation of the manuscript. ARG was supported by the Ramon y Cajal programme (RYC2022-038556-I), funded by the Spanish Ministry of Science, Innovation and Universities.

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I confirm all relevant ethical guidelines have been followed, and any necessary IRB and/or ethics committee approvals have been obtained.

I confirm that all necessary patient/participant consent has been obtained and the appropriate institutional forms have been archived, and that any patient/participant/sample identifiers included were not known to anyone (e.g., hospital staff, patients or participants themselves) outside the research group so cannot be used to identify individuals.

I understand that all clinical trials and any other prospective interventional studies must be registered with an ICMJE-approved registry, such as ClinicalTrials.gov. I confirm that any such study reported in the manuscript has been registered and the trial registration ID is provided (note: if posting a prospective study registered retrospectively, please provide a statement in the trial ID field explaining why the study was not registered in advance).

I have followed all appropriate research reporting guidelines, such as any relevant EQUATOR Network research reporting checklist(s) and other pertinent material, if applicable.

Data Availability

The template data extraction form is available in Supplementary 1. MMAT quality appraisal ratings for each included study are available in Supplementary 2. All data used is publicly available in the published papers included in this review.

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Traders Are Betting Millions That Trump Media Will Tumble

The parent company of Truth Social is a popular target for short-sellers, even after they lost $100 million last month betting on a decline in the stock that didn’t come.

By Joe Rennison

Before former President Donald J. Trump’s social media company made its stock market debut, many investors were lining up to bet on its collapse. After the company’s share price plunged following an initial surge , the appetite to bet against the stock has grown even more ravenous.

Trump Media & Technology Group, which trades under the ticker DJT, slipped on Wednesday to below $50 per share, extending a steep decline this week that pulled the stock down from its high near $80 and erased more than $2 billion of market value.

Trump Media is the most “shorted” special purpose acquisition vehicle in the country, according to the financial data company S3 Partners. Short-sellers bet that the price of a stock will fall. They do that by borrowing shares of a company and selling them into the market, hoping to buy them back later at a lower price, before returning the shares to the lender and pocketing the difference as profit.

The demand to short Trump Media, the parent company of the social media platform Truth Social, is so great that stock lenders can charge enormous fees, making it hard for short-sellers to turn a profit unless the shares fall significantly. Still, there is a lot of interest in taking the bet.

“They are looking for this stock to crater and crater very quickly,” said Ihor Dusaniwsky, managing director of predictive analytics at S3.

Before Trump Media got its stock market listing, it agreed to merge with a shell company, Digital World Acquisition Corporation, which went public in 2021. In the months before the merger, which closed last week, investors also bet heavily against Digital World as a proxy for Trump Media.

It was largely a losing trade: This year, the shell company’s shares more than doubled as Mr. Trump became the overwhelming favorite as the Republican presidential nominee and regulators approved the merger.

Last month, traders lost $126 million betting against Trump Media, according to S3.

On Monday, Trump Media published updated financial information, revealing little revenue, large losses and a statement from the company’s independent auditor expressing “substantial doubt” about its financial viability. This appeared to galvanize investors betting against the company, as the stock slipped from its highs.

But short-sellers are finding it difficult and costly to trade in Trump Media. There are roughly 137 million shares in the company, and only around five million of those are available to short-sellers.

Mr. Trump owns about 60 percent of shares, and company executives also hold a chunk of the stock. Company insiders tend not to lend their shares to short-sellers. Big asset managers like BlackRock, Vanguard and State Street, which regularly lend out shares, are not major holders of Trump Media, further crimping the supply.

According to S3, 4.9 million of the roughly five million available shares are already on loan. As with any loan, when share owners lend their stock to a short-seller, they charge a fee, usually expressed as an annual interest rate on the stock’s current value. Typically, the fee for borrowing stock is a fraction of a percentage point. For Trump Media, it has risen to 550 percent, Mr. Dusaniwsky said.

Trump Media’s stock currently trades at around $50. That means that shorting it for a month would cost more than $20 per share. For a short-seller to break even, the stock price would have to fall by almost half by early May.

There is another wrinkle, too. One large broker said much of the short trading was not an outright bet against Trump Media. Since the advent of meme-stock trading and the vilification of short-sellers that win only if popular companies lose, large investors are wary of making such trades.

Instead, the current trade driving demand is designed to capture the difference between DJT’s stock price and outstanding “warrants,” which will give the owners the right to new stock at a fixed price as long as regulators approve the new shares.

Partly because of that uncertainty, those warrants currently trade below $19, with a list of hedge funds as recent holders. Even after the high cost to borrow stock is accounted for, they are still able to profit from the $30 difference between existing stock and what the warrants are worth, assuming the warrants become registered as shares.

“There are still so many people looking to short the name,” Mr. Dusaniwsky said.

Bold bets can also be seen in the market for stock options, which are derivatives tied to the share price of a stock. Options are essentially a contract between two parties agreeing to a price for buying or selling a stock ahead of a specified date. Most of the interest has been for contracts with prices well above or well below the current stock level, according to data from CBOE Global Markets, meaning investors are betting on big movements in either direction — way up or way down.

The cost of these options is also very high, said Henry Schwartz, global head of client engagement, data and access solutions at CBOE. That, he said, might be because some of the investor base is politically and not economically motivated.

“The price it is trading at doesn’t make any sense, but price and value don’t have to be related in the short term,” Mr. Schwartz said.

An earlier version of this article misstated a Trump Media distinction. It is the most shorted special purpose acquisition vehicle in the country, not the most shorted stock.

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Joe Rennison writes about financial markets, a beat that ranges from chronicling the vagaries of the stock market to explaining the often-inscrutable trading decisions of Wall Street insiders. More about Joe Rennison

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