In the past decades, Information technology has been improving at a rapid pace. It is due to the change in communication and computing. All these changes are due to the progress in economic growth both in skills and education. The support and increase in the use of new technologies has been a source that could help in the cost reduction of communication and further results in technological improvements and increase in competition both in the business sectors.
These advancements in technology or Information technology sector present many significant opportunities that poses major challenges in today’s society. The main significant change in IT has been seen in the electronic commerce through the internet as a new way of business transaction. It has impacted our society in various different sectors that includes:
- Private life/trend – The change in IT impact greatly in our private life due to the rapid increase in the use of computers which has been taken over with high dependability on technologies with the new way of our living.
- Labor market – There is high request for technological know-how in most industries today. Since the use of technological appliance most jobs are lost, all activities are carried out using technology that varies from telephones to writing letters through a postman. Technology bridges the gap and reduces jobs in this area. Firms move businesses and jobs to countries they can benefit from in ways of low production with use of cheap labor and raw materials.
- Education – The improvement in IT sector has been beneficial in the educational aspect of our economy. Education is considered as the backbone of any economy that wants to grow and information technology has indeed helped with the ease of studying through easy asses to research materials and not eliminating the old and traditional method of studying in the class, but complementing the educational system in a more advanced way.
- Business and market structure – The impact of IT on business and market structure is mainly seen in the aspect of reducing geographical distance between the work place and home, many industries like the software industry make use of this to overcome local market competition for engineers in software, low wages by the use for employees in countries like India or other places where their wages are lower.
The amount of time spent on the internet or watching TV has taken a large part of our day to day activity which has also resulted in the increase in obesity. It has improved our transportation system in many ways making it easy to travel from one country to another through different means. It has equally raised privacy issues as information can be easily shared among people and this affects both the private and public sectors.