How Technology has Impacted Various Industries in the Economy

The area of technology needs to be handled with a lot of seriousness. This is due to the benefits that Information technology brings into the operations of different industries in the economy. Every economic sector has experienced some impact as a result of the introduction of technology, which in most cases are positive impacts. In this article, we are going to look at the impacts that the technology has brought to various industries in the economy so that we can appreciate the way it has transformed the way activities are done globally. As we should all agree, everything has got its positives and negatives, but in the case of technology, I believe that the benefits surpass the demerits. Let’s have a look:

Medical Industry

This is one of the economic sectors that should be significantly proud of the advancement in technology. This is due to the improvements that tech has brought into the sector, starting from the equipment to the way the operations are done. For instance, in the earlier days, the equipment in the medical facilities was made using the old methods, and hence though they were useful, they sometimes posed some health challenges to the lives of the patients. Some of the patients would have health complications after receiving treatment using the equipment. However, with the introduction of the new technology, the medical practitioners invented some new medical devices that used the new technology. These were more sophisticated than the old ones, and hence they would perform all the medical activities without putting the health of the patients to risk. This way, the sector improved and the patients regained their confidence in the medical experts and their activities.

Manufacturing Industry

This is another sector of the economy that has experienced some radical changes as a result of the introduction of the chat-bot framework and technology. Some of the impacts are positive while others have affected the industry negatively. To start with the positive impact, technology has enabled the manufacturing firms to carry out their processes more efficiently. This is by way of inventing new machinery that has simplified the whole process of manufacturing. Before the new advancements in technology, a lot of manufacturing companies used the old mechanism, which were slower in their processes and hence the production of these companies was a bit lower. The introduction of the new technology improved the production of these firms.

On the other hand, technology in the manufacturing industry had some detrimental effects on the people who provided manual labor in those companies. For instance, the slow machinery required more workforce to enhance their productivity. However, the introduction of the new machines with the new technology in place demanded fewer manual workers in the operations. This meant that the manufacturing companies had to shed off some of their workers in the process. This was quite a challenge to the individuals who lost their jobs since they had some families that depended on them. Nevertheless, in spite of the challenge that was associated with the new technological advancement, we can all agree that it has brought a lot of benefits and contributed to the economic growth

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