The Impacts of Technological Advancements in the Business Sector
The technological advancements that have happened in the recent past have had a significant impact on the way things are done in the business world. A lot of business organization have adopted Information Technology to improve their processes, especially those that deal with direct customer service. The reason behind the high rate of technology adoption in organizations is the level of sufficiency that they get from the use of the tech. First, the operations become quicker, and processes can be completed within short periods. This was unprecedented because before the introduction of IT into the business sector, the processes were done manually and hence the companies could take centuries to serve their full range of customers.
Another way that technology has impacted the business world is by reducing the cost of operations in the organizations. As we all know, the traditional offices were filled with employees upon whom the organizations relied to reach their customers and also enhance their market reach. This is different in the current business environment since many organizations have substituted these employees with technological gadgets. One of the primary substitutes that the employers are using in the industries is the robot. A robot is a technology-based device that has been programmed using artificial intelligence to perform human activities. For instance, you may find a website whereby the operations are carried out 24/7. In most cases, these websites implement the initiative of artificial intelligence whereby their owners have left the robots to serve their customers using a predetermined program. If you visit the website by the address of something like /blog/so-you-want-to-talk-to-a-robot/, you are likely to witness the same since the operators have enabled the use of this artificial intelligence to perform their activities.
By the implementation of artificial intelligence in organizations, the owners manage to cut the operating costs since they do not have to pay wages for hundreds of employees who could be performing the same role. Another advantage that Information Technology has brought to the business sectors is the improved quality of services. In this case, the best example to illustrate would be that of the manufacturing industries. In the past, the manufacturing processes were carried out using obsolete machines, which produced substandard products. However, after the technology was incorporated into business, new types of machinery were manufactured, which would later be used in the production of higher quality goods. On the other hand, the new machines also required people to operate them and hence they provided a few employment opportunities to the operators.
However, technology has also had some negative impact on society and especially on the business sector. One of the greatest demerits of the technology in business is that business transactions are done between virtual human beings, and hence it becomes very likely for either party to fall victim of the other’s dishonesty. For instance, whenever someone requires purchasing an item from the digital platforms, they log into the merchant’s website and pay to make an order for the delivery of the item. However, they have no opportunity to verify if the product is of the quality that they needed, or even it exists at all.