Advantages of a tech powered economy

Techceleration has made a tech economy inevitable in this decade. While there are many issues yet to be sorted out and many drawbacks, there are a great many advantages.

Business continuity: Thanks to the cloud, collaboration and remote work going on steroids, tomorrow if there is another pandemic, natural disaster or a personal tragedy, business continuity can easily be maintained. Thanks to no-touch technologies like automation, robotics, drones and autonomous cars, which saw a great fillip during the pandemic, the world will go on in case of lockdowns.

Accountability: It is very difficult to get away from the online system and shirk. Online systems are transparent, dynamic and can be custom-made to handle whatever tasks that have to be carried out by individuals, groups, companies, organisations or governments.

Speed: In the online world, tasks can be sped up and scaled up in a shorter amount of time. Even the offline world can follow the same kind of strategies once they have been enabled by tech.

Creativity: While there is a criticism that machines and robots take away jobs from humans, there is a more important side effect. When automation happens, more and more types of jobs are created which generate more employment. That leaves the population free from doing repetitive tasks, thereby boosting creativity.

Level playing field: With technology the world is flat and it’s not just the IT services industry, but in almost everything. Every global citizen via his social media account can get heard in the world. Similarly, technology can play the great leveller in each aspect of industry. Small businesses and big ones can compete because they have access to the same kind of tools. Soon everyone is going to be on the cloud whether it’s an individual or a business.

Less dependence on cities: In the last few decades there has been a great shift away from villages and more towards cities. Cities are getting overcrowded, and they are great resource guzzlers. With the Work From Anywhere culture, the logical end is that there is less need for large cities. We can have widespread human clusters which can serve as more sustainable units.

The environment: In the long run, with less need of business travel, less transportation and hence less usage of fossil fuels, it will be beneficial for the environment. We can finally realise our dream of a paperless world and thereby save trees and have lesser landfills. Automation can streamline processes to ensure less consumption and less pollution.