Transformative Technologies
Be it history, literature, or science; humankind has always shocked itself with various discoveries, inventions, and ground-breaking technologies like AI, Cloud, AR/VR, Big Data, and Robotics. This is the result of the great industrial revolution, which has led us to the ‘21st-century Digital Revolution. This is also the outcome of great brains like Nikola Tesla, Alan Turing, Steve Jobs, Elon Musk, and many others.
Of course, this is the best of human intelligence and the beginning of something called the ‘age of machines’ These technologies have been saving us a lot of effort, cost, time, and trust. Today no field is not disrupted by technological advancements. A lot of companies have driven their offerings towards the IT niche, which has brought a transformation in the world. This is the primary reason employees today are working in the service sector, contributing to 63% of total global wealth.
Let us dive more into the platforms that are being transformed by technology:
Retail
Smart digital services that facilitate end-to-end consumers’ buying journeys can be seamlessly integrated with online and offline channels thanks to technology. Reliable, customized services that have been enhanced through extensive analytics can be updated almost instantly and complemented by engaging digital content. We have already seen a change in the way people shop today. Earlier, we had to head out for the things that we needed, which consumed more of our time and effort. This has been replaced by e-commerce – the online way of shopping and getting products delivered to our doorstep. Moreover, we are even transforming towards less human-efficient ways where digital payments can be made by just scanning the products, and you are on your way. Amazon Fresh is a good example of it, where a combination of AI, Computer Vision, and Data Sensors are installed, and customers are charged for the items they can pick and walk out without even standing in line. That’s the technology for you.
Supply Chain
The field is surrounded by the terms – inventory, stock, freight, and transporting it to the different parts of the world. This is a job where a lot of human labor is required to keep track of things which can become a nerve-racking task for companies. This is where technological tools like RFID and smart tags come into the picture. These technologies can keep track of the inventory, inform about any damage, and can keep up with managing the entire supply chain requirements. The world seems much simpler when these technologies save a lot of human effort and time, isn’t it? By automating data entry and removing labor-intensive manual processes that are prone to mistakes, technology lowers labor expenses. The ability to access real-time, current information about all aspects of the supply chain has a big impact on how businesses operate and what they expect from their business relationships.
Healthcare
It’s no longer news that the healthcare industry has adopted technologies such as AI, IoT, Machine Learning, and its applications. Healthcare industries are always trying to improve quality, reduce costs, and ensure patients have quick access to care. These technological tools are already being used to detect cancer and can provide individuals with health information through a chatbot, SMS, or by using voice assistants like Alexa and Siri. There are tech-based solutions that could potentially reduce the occurrence of medical mistakes. It is amazing to think that technology can manage the workings in such a complex environment as healthcare and maintain high standards.
Financial Sector
The boom in the financial sector can be seen due to the emergence of the financial and technology–fintech industry. Banks, financial institutions, investments, and everything related to finance have been transformed by technology. The result is cashless payments, safer transactions, and trust built upon the advancements of cybersecurity in the field of finance. For activities like risk assessment and fraud detection, financial services use artificial intelligence and machine learning systems. When it comes to tailored experiences, predictive analytics, and AI-driven support, the technology is also helpful in the financial services sector.
Education
The technological impact can also be seen in the education sector, with the introduction of Ed-tech companies and learning rising among the nations. Learning and Teaching with new aspects of technology help to build a culture of innovation among the students. It is used in the form of 3D pictures, films, online classes, notes, and many more ways. This is the revolution we see not just in learning but in teaching too. A helping hand for teachers has come in the form of artificial intelligence. The grading system required a lot of time, but thanks to technology, multiple-choice questions now have an automatic grading system. Additionally, artificial intelligence makes suggestions for the student’s weak areas.
Leadership
The transition of technology has also affected leadership at all levels. Meetings, Presentations, and Decision-making all come under the umbrella term of MIS – Management Information Systems. Now that the technological need and awareness have increased, leaders have changed their game as well. Using new technology in ways that produce not only innovative efficiencies but also boost human creativity, intelligence, and judgment presents a challenge for leaders. Technology-enhanced leadership will significantly improve leaders’ capacity to tackle that problem and, as a result, create true future prosperity. The use of technological tools and equipment can be seen to increase in the event of the global pandemic, where organizations have to shift to work from home. This was the tech transition that brought leaders and employees together on the same page.
Last Words
As Wendy Mass rightly said – “If there was no change, there would be no butterfly.” Similarly, we as humans have to go through a transformation at every stage of our life. It is through this transformation that we have come to digital times. So let us all cherish our achievements and keep contributing to making this world a beautiful place to live. No doubt there will be flaws, like the human-machine conflict or the impact of machines on our lives. But I think if we use all our intelligence to make humanity thrive and for the better good, we can reach a better solution of creating such innovative platforms for future generations to come.
