Information technology has it’s impacts in different key areas such as industrial structure and jobs, workforce and in financial markets. These advancements promote prosperity and enhance our lives, but it isn’t without it’s drawbacks. Technological advancements in these areas move our world towards a more globalized system, but it’s innovations in the industrial structure and jobs has a more noticeable impact and benefits in our world today.
Technology has changed the landscape of industrial structure. Productivity has increased due to the technological advancements in the way companies manage their goods and products. From cars to toys, all produced on a massive scale due to the application of manufacturing technology. New machines can now
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A lot of jobs have been created by the rise in technology, but a lot of jobs have been lost as well. More and more people are losing employment to computer automated systems and manufacturing machines. “Huge advances in technology risks creating an under-class of low-skilled people whose jobs have been automated” – Tovey, A. (2014, November 10) Ten million jobs at risk from advancing technology Retrieved from http://www.telegraph.co.uk/finance/newsbysector/industry/11219688/Ten-million-jobs-at-risk-from-advancing-technology.html. This also creates a “digital divide” from those who have access to resources and education that has emphasis on securing technological jobs, and those who are underprivileged and live in impoverished areas who have no means of attaining technological skills in this digital age.
Education in technological skills is very crucial and necessary. Lower skill jobs continue to disappear while jobs that require skills in technology rise. Education in these skills should be made available everywhere by anyone. University of the People is a perfect example of a solution to this problem. By giving those who couldn’t afford or attain these skills a no-tuition or affordable education from a quality institution that is available virtually anywhere. This gives more people, regardless of their background, the skills they need to compete in todays job market.
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