Digital technologies are electronic tools designed to generate, store and process data. Well, known examples of digital technology are social media, multimedia, mobile phones, online games, eBooks, video streaming, websites, etc. It enables a large amount of information that gets compressed on small storage devices that can be stored easily and transported. Digitalization quickens or fastens the transmission speed of data.
This digitalized information gets recorded in binary codes combined with the digits 0 and 1, also known as bits that resemble words and images. Digital technology has made an easier way for us to communicate, learn and work. It has also transformed the way where media can get researched, created, distributed, and viewed.
History of Digital Technology
Digital Revolution is also known as the third industrial revolution, a shift from mechanical and analog electronic technology to digital electronics. In the half of the 20th century, people started adopting digital computers and digital record keeping till the present day.
Over half of the Americans began to own personal computers. The population of the internet rose to 1 billion. On the other hand, the digital revolution diversified to the rest of the developing world.
Around the 2010s, the digitalization of analog and manual systems was almost complete. The revolution began with digital transformations. People started using digital transformations to drive new business programs.
In 2019, most of the companies’ 40% technology spending will go for digital transformation. Tech expending has exceeded by 3 Trillion, globally. The ability to create digitally transformed products, services, and experiences has increased drastically.
In the current scenario, half of the companies have replaced in S&P 500 with digital transformation. The prevalence of apps payments, bot, and other digital technologies have embedded in our everyday lives. Peoples’ day-to-day activities with technology giants like Google, Facebook, Tencent, Amazon has been increasing daily.
Advantages of Digital Technology
1. Access to Information
Digital technology has made our lives convenient, as it helps us access information from the internet without any hassle. Information all around the world is available on the internet. With digital technology, the path to get that information is simple. From news to movies to eBooks, digital technology has helped to have direct access. You can get to read books, watch insightful movies with no hustle while staying on the bed. Convenience has dominated the hard work that we used to require to get these sources of information. Thanks to digital technology!
2. Cost Efficiency
The main objective of technology is to produce things that will be affordable and reasonable to general people. Therefore, people go for cost efficiency due to technology these days. Beneficial machinery is available for less price than we think. With the help of technology, we can compare prices across the world. Also, incorporating digital technology into the business can cut off half of the operating expenses. Instead, digital technology reduces cost and increases productivity.
3. Better Means of Communication
The replacement of old technology with the modern one has made our lives easier as we can communicate with people worldwide. In the past, letters were the most popular means of communication. It used to take more than a month to get the reply letter. Whereas nowadays, it takes a few seconds to receive replies. Nowadays, who thinks of writing a letter instead of video calling?
Most of the rails, trains, airplanes rely on digital technology. It has made our lives more convenient as we can book our tickets online. There are lots of websites representing flight tracking, route tracking, and maps. All these can pave an easy path for traveling. Also, these days’ passports contain digital chips that have all the information of an individual. It enables self-service machines to fasten the process of checking in and passing through customs.
Digitalization has also touched upon the revolution in the financial sector. Online banking has become common these days. You can use your laptops, mobile phones, tablets for online banking. Users can track their cash inflow outflow through online banking. You can also arrange money transfers and bills payment from it. Apart from banking, there is still another way of managing the financials of an individual. These days, you can buy and sell shares online.
Disadvantages of Digital Technology
1. Work Overload
As we all know, digital technology has fastened the completion of work. Whereas to increase productivity, employees get lots of work to deal with, every day. Workers from all around the world have to manage data, emails, information which, can be hectic. Analyzing a large amount of data requires extra effort, dedication, attention creating isolation and distress to employees.
2. Losing Job Opportunities
With the help of digital technology, people can do their work on the internet. You don’t have to be physically present to do a particular job unless it can’t get performed through the internet. The internet allows employees to do the same task at minimum wages. The situation will diminish the job opportunities for workers. Their job opportunities will get replaced by digital technology. When more digital equipment gets into the working area less will be job opportunities.
3. Security of Information
Digital technology allows for the storage of data. However, getting concerned about the security of those collected data is another essential thing. The stored information, data of individuals, and companies’ are always vulnerable to theft. Criminals, hackers, terrorists, foreign enemies can get access to this data. So, safety regarding that information is a crucial factor.
4. Lack of Socialization
With the development of digital technology, face to face conversations, socialization is rare these days. People can call, communicate, look at each other through the internet, due to which they can avoid face to face interactions. The situation will lead to social isolation. Social isolation can lead to depression in each individual. As studies have shown that, lack of face-to-face communication, people can suffer from mental health problems. People start to find comfort without talking to people as well.
(Last Updated On: April 10, 2021)