How Technology Is Restructuring Every Aspect of Business

This is a guest post by our partners Career Karma. They help individuals get into tech careers by providing them with all the information, tools and support they need. If you are interested in a job in technology you should check them out.

In the modern age, technology is infiltrating every field. It allows us to become more efficient, accurate, and smarter with our decisions. There are a number of industries that have been traditionally rigid to change from technology, but even these incumbent industries that lead the markets are beginning to see widespread disruption.

Technology has the potential to change the world in more ways than one. The future of work and of industries is set to become something society has never seen before. Some of the changes can be predicted but there are bound to be unforeseen effects that will forever change the landscape of how work is performed.

A woman doing virtual reality at a table with laptops on it. - How Technology is Restructuring ever aspect of business

Streamlined Services

Prior to the merging of technology and business, companies had to dedicate a large amount of time to planning how tasks were going to be completed. Not only this, but basic business processes have been drastically changed. For example, customer relationship management systems have altered even the most stubborn of industries.

New job paths have been opened across all industries, such as Data Scientists, who are responsible for taking the data presented and analyzing it to help a company make efficient and profitable decisions. To that end, technology has turned competition amongst companies into something never seen before. When services become streamlined, everyone is vying to have the best software and most advanced technology to help further their business objectives.

Online Business

This is perhaps the largest way technology has changed every industry. Did you know that the Internet World Stats found that there were over 4.5 billion active Internet users during their June study? With so many people surfing the Internet, it is no wonder that Web Developers have been deployed by companies to build online websites to increase sales.

People are where profits exist and now mass numbers of people have started to use online services. Digital marketing has become a growing industry for this sole reason and it is showing no signs of decline. Even farming, a notoriously generational and rigid industry, has online training courses and even buying options for plots of land. 

A large number of companies were hesitant to make the move to offering online services, but this recent pandemic served as a trial by fire. For many smaller companies, refusing to accept technology and not moving online led to their demise. The Washington Post covered how as many as 100,000 small businesses went out of business and a lack of in-person shoppers was a large part of this. From here on out, online business is going to increase drastically as companies see what it takes to survive.

Creative Destruction

Whenever a new technology is introduced to the business process, it is inevitable that traditional companies will struggle to compete. For example, Netflix introduced a way to view movies and TV shows that displaced traditional media companies such as Blockbuster. Creative destruction is an economic term that refers to the process of new jobs emerging to replace old jobs disrupted by new influences. This process has influenced business for years and can be seen in jobs as old as agriculture.

The incumbent industries of the workforce are strong but as technology continues to develop, these industries will change from the inside out. Older jobs, such as accounting, will be completely streamlined and the day-to-day tasks that will be performed are going to look completely different. A rising prevalence in trade schools and coding bootcamps has given new potential employees the tech-based skills of the future. New jobs will begin to emerge to replace the old within rigid industries and these new employees will be the catalyst that forever disrupts work.

Conclusion 

When it comes to technology, there is only one certain fact: it will change the world. We have already seen the effects across many different fields such as healthcare or recruiting. As the development of advanced technology continues, so too will the disruption. In a few years, many jobs will cease to exist as automation replaces their daily functions. With that said, there will always be a place for people in the industries of the workforce and unique new jobs will always emerge to replace the old.

If you want help getting into a tech career visit https://careerkarma.com/ for all the information, tools and support you need.

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