Impact of Tech on Different Sectors

Impact Of Tech On Different Sectors


Technology is the use of knowledge to achieve attainable goals in a repeatable manner. The products of such efforts are referred to as “technology,” which includes both tangible objects like machinery or utensils and intangible ones like software.

This was followed by the ability to control fire, which helped to accelerate the development of language and the expansion of the human brain during the Ice Age. The creation of the wheel during the Bronze Era made room for more complex technology and quicker transportation. the printing press, as well as more recent technological advancements like the telephone. 

Impact of Tech 

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The different impacts are- 

1. Impact on Society 

Technologies have assisted in boosting human economic productivity ever since the development of the wheel. In the past, automation has both replaced and complemented labour.

For instance, while machines have taken over some lower-paying jobs (such as those in agriculture), this has been offset by the creation of new, higher-paying positions. Computers did not significantly increase net technological unemployment, according to studies. It is unknown whether artificial intelligence would follow the same trend because it is much more competent than computers and is still in its infancy; the issue has been extensively discussed among economists and decision-makers. 

2. Impact on Security 

Technology’s increasing reliance has brought with it security and privacy problems. To help with money transfers, billions of people use a variety of online payment options, including WeChat Pay, PayPal, Alipay, and many more. Despite the presence of security measures, some thieves are able to get beyond them.

In March 2022, North Korea laundered over $20.5 million in cryptocurrency from Axie Infinity and stole more than $600 million in cryptocurrency from the game’s owner using, a mixer that enabled them to conceal their cryptocurrency exchanges. In an effort to stop North Korean hackers, the U.S. The Treasury Department sanctioned, marking the first time it had done so against a mixer. 

3. Impact on Environment 

Technology has had an impact on the environment both negatively and positively, usually in the opposite direction of the initial harm. Examples include the production of pollution and attempts to reduce it, the clearing of forests and attempts to reverse that clearing, and oil spills.

The environment of the world has been significantly impacted by each of these. With the release of greenhouse gases like methane and carbon dioxide into the atmosphere, which results in the greenhouse effect and progressively warms the globe and causes global warming, negative environmental effects have increased along with technological advancement. Because of the development of technology, everything has gotten worse. 

The Bottom Line

While technology advances economic growth and increases human prosperity, it can also have detrimental effects like resource depletion and pollution, as well as societal problems like technical unemployment brought on by automation. There are thus continuing philosophical and political discussions regarding the function and application of technology, its ethics, and strategies for minimising its drawbacks.

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