How Technology Is Driving Change in Almost Every Major Industry

7/15/2019

by Raul Harman, Guest Contributor

Modern technology continues to evolve and reshape industries it affects in the process. Over the past couple of years, many industries began to embrace modern technological trends. Even the industries that didn't rely on technology as much as others, such as education and the legal sector, for instance, are now adapting to technological innovations.

The change was subtle at first but as more industries started to realize the full potential of leveraging technology, as well as the benefits it can provide, more and more companies started to reshape at a rapid pace so that they can gain a competitive advantage over those that fall behind.

Embracing such technology is always disruptive at first, especially for industries that didn't use technology before. However, in time and with proper implementation strategies, technology can vastly boost both the performance and the overall efficiency of any company that leverages it. With that in mind, here are a few ways how technology is driving change in almost every major industry.

Education industry
As mentioned before, the education industry seamlessly avoided relying on technology too much up until recently. The entire education system started to fall behind because of it. Today, however, schools and universities all around the world are beginning to embrace modern technology. Technology began to drive change in this sector and it promises to reshape the entire industry in the near future.

A good example is leveraging artificial intelligence (AI) to develop a new approach towards studying. As a matter of fact, a California-based research and development company, Content Technologies, Inc (CTI), is currently developing AI-powered services that can create custom and personalized textbooks and study materials for students by analyzing their lectures. This will help students comprehend and master subjects more easily and efficiently.

Online retail industry
Online retail, including eCommerce and mobile commerce, has been the pioneer of adopting modern technology. Ever since the early 1960s when the concept of eCommerce began, this industry has experienced vast changes and it continues to do so even today.
For instance, mobile eCommerce is a prime example of technology driving changes in the online retail world. When mobile devices began to gain momentum in both popularity and usage, the online retail industry was among the first to adjust to this new trend, hence the mobile commerce was born as a separate market.

Today, technology continues to improve upon this trend with numerous apps being developed for mobile users and with modern technology, such as augmented reality (AR) currently being leveraged to enhance the consumer experience. The purpose is to create an online experience for consumers that will match that of a brick-and-mortar store only without having to be physically present in a store to try out various products in person.

Natural resource exploration
Natural resource exploration industries, such as those involving oil, gas and other natural elements, are still considered to be the largest industries in the world. Even though this industry relies heavily on technology such as tubulars, it didn't rely on modern technological solutions until recently.

Today, even this industry is adopting modern technological innovations. A good example is autonomous vehicles used in the transportation of debris on dig sites. What's more, automation, alongside AI, is being used to explore and test the ground for new potential dig sites. Furthermore, one of the more interesting trends in this industry is the implementation of eCommerce in the supply chains.

As a matter of fact, essential inventory such as oilfield equipment is available for trade through eCommerce channels. That means that the natural resource exploration industry is not only leveraging modern technology to improve their overall efficiency but the technology itself is driving change towards more reliable solutions for this industry.

Manufacturing
The manufacturing industry is yet another example of how technology can drive change. In recent years, consumers have grown to be more environmentally aware and eco-friendly. They expect from industries to follow in their example and become more green themselves.

Manufacturers decided to follow this trend and technology has effectively aided them in this endeavor. What's more, manufacturers found that technology is not only conveniently beneficial in helping them reduce waste and lower their carbon footprint but also quite beneficial in helping them boost their overall performance and efficiency.

The fact of the matter is that automation and lean manufacturing models have helped this industry produce better and more reliable products. Manufacturers all over the industry ranging from construction to vehicle development are able to produce more in less time and save money, as well as leverage more sustainability in their development processes.

Technology is and will continue to be the number one factor that drives change across various industries. At a certain point, every industry realizes the benefits of leveraging modern technology and how it can help them become better, as well as more efficient. That's why technology will continue to disrupt how industries operate and encourage them to make a move forward.

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