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Technology In The Technology Industry

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We are living in a rapidly developing high-tech world, where technology is a yardstick for a country’s social or economic development. Countries that have invested sufficiently in promoting emerging technologies over the past decade are the ones that have developed successfully. If we may look at the US, western countries, even in Asia like China, Malaysia, Japan and India are booming in the technology industry.

In comparison, Pakistan lags development due to being underdeveloped in the technology sector because of political and democratic interests. We have a polarized democracy, inefficient governance system, overall poor human development conditions, less educational opportunities and state does not prioritize to scale up new technologies …show more content…

But in actual, it is not the case. Technology creates new jobs in the industries such as IT development, hardware manufacturing, app creation, IT systems management and etc. One of the study by MacKinsey’s in 2011 found that internet destroyed 500,000 jobs in France but on the other hand it also created 1.2ml new job opportunities. Therefore, net impact of emerging technologies on employment is strongly positive. In addition, improved technology will strengthen our social, economic, and human capital at a large …show more content…

The global human economy and financial system has been virtualized and digitalized for instance internet based virtual currencies such as bitcoin. The world’s stock exchanges are being merged and combined. After 4G, now 5G is going to be launched soon and it’s been considered that 5G would speed up global growth. The internet, computers, smart phones and such other technological tools have already revolutionized the global economy. We are moving toward the fourth industrial revolution (4IR) that is being embedded in the societies and even in human body.

In Pakistan, if we observe, we still lag behind decades to have a developed digital and technological system because, first we must learn to use the technology affirmatively. It is a waste of technology that we instead of using technology for overall social and economic benefit use it for social, moral and economic corruption. We are a society, where moral deficit is on the rise. So before creating the full technology hub in the country, we need to prepare our generation to be positively ready for these changes so that we can contribute efficiently to the overall development and national

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