Modern Technology: A sight for some sore eyes – Part 1

Technology has been the kingpin of every the economic boom in the history. The recent examples of economic stabilities and progress have all been made possible by latest innovations and inventions in the world of technology. The 1070s, 80s and 90s are all
examples of it and there are buds of the new opportunities arising from the current rocky economic instability in the US and Europe.

The 90s benefited from the internet and software inventions especially personal computing. On the flip side of the story, the 2008 recession had some aggravating hand from the dotcom technologies. However, this field has evolved to such an extent that e-commerce
is taking over the driving seat in the modern economy.

In recent surveys the e-business made more revenues on holidays like the black Friday, Thanksgiving and Christmas than brick and roof stores. Moreover, these surveys tell that employment has been supported by social networks a great deal. Crowdsourcing has
raised a lot of funds for entrepreneurs over the last two years for new and innovative projects. Therefore, it can be safely said that the new technology, e-commerce in particular, has a lot of potential in driving the future economies.

Following are reasons why the modern technology is in the driving seat:

1. New ideas and innovation

There have been more innovations in the last eight to ten years in the world than there have been in last half a century and the reason; computers and internet, thanks to Apple and Microsoft for putting the life on a fast and prosperous track.

Now-a-days, approvals required for new ideas require little or no time as most of the red tappism has been wiped off by computers and social networks. People have a vaster social pool and more connections to make their ideas public.

Investors and banks are more open-minded than they had been in the last half a century. Moreover, the risks involved in insolvency of e-biz are none or little at best. There is not much investment required to start a small business online and if there is
some required that can be addressed by crowdsourcing.

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Posted by Usman Khalid on Dec 27 2011. Filed under Business. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry