It’s easy to take for granted that the device in your pocket makes payments, plays music and media, takes photos and videos, and can help you to be more productive (or provide endless opportunities for procrastination).
Technology has become so seamlessly blended into our day-to-day experiences that being without it is unimaginable. Even generative AI, which astonished the world with its capabilities when it emerged in 2022, is now commonplace in our personal and professional lives.
But the same tech that enriches our lives can distract, disrupt, and destabilise if not used wisely. Here are advantages and disadvantages of modern technology.
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Advantages of technology
The evolution of technology has brought great benefits for humanity. Medical tech, in particular, helps to deliver more accurate diagnostics and deliver healthcare at scale, helping more people to live longer, happier, healthier lives.
High-quality communication via voice or video is possible between virtually any two locations on earth, helping us stay connected with distant friends and family, and businesses to make fast and effective decisions. In fact, technology has increased the productivity of almost every industry in the world.
Progress in implementing strategic technology trends is helping businesses save time and money. Exchanges are faster. Sales and purchases can be made worldwide, almost instantaneously. This allows businesses to buy raw materials with discounts or at reduced prices.
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We can pay with bitcoins instead of using banks, and smartphones have made banking more accessible for consumers in regions where it can be difficult to access traditional financial services.
New discoveries are made every day. When radio waves were discovered, radio broadcasts followed suit almost immediately. The same applies to television and electricity. If no one had discovered that electricity could be generated, there would be no entertainment industry.
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In the modern industrial world, machines carry out most of the agricultural and industrial work and as a result, workers produce much more goods than a century ago and work less. They have more time to exercise and work in safer environments.
Disadvantages and risks of technology
On the other hand, our dependence on new technologies has some downsides. Outsourcing much of our mental workload to devices can impact our cognitive skills development, memory retention, and even our critical thinking and reasoning.
The impact of AI on the job market is still uncertain. Some firms have already slashed staff whose jobs can be done more efficiently and cheaply by AI. But it’s too soon to say what new opportunities might be created by the automation of tedious, routine tasks.
The use of technology certainly needs regulations, but they are difficult to implement in a world of exponential technological development, where experts, tech leaders and governments are divided over policy and consequences.
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Finally, the negative impact of the influence of technology like smartphones and social media on children should not be underestimated.
