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Technology and business: Which sectors have been affected by the tech revolution?

By admin / August 22, 2019

Technology has played a huge role in society over recent years and become central to how we all live. Since the internet first sparked into life, it has been one massive breakthrough after another. From smartphones to AI and the Internet of Things, tech has certainly made its presence felt. Of course, this is a positive thing as it has helped make our lives easier in many ways.

It is not just our personal lives which technology has affected though. The business world has seen just as much change due to digital ways of working. As more consumers started to demand online services and more businesses began to offer them, a tech revolution blazed across all sectors. But what industries has technology affected the most and is likely to in the future?

Travel

Who doesn’t love to jet off on holiday to somewhere sunny?! Travel always has and always will be a massive business sector for this reason. Technology has really made its mark in travel though, ever since the internet really took off.

Gone are the days of visiting a travel agent in person to book your next trip. Now, you simply head online to book your holiday or to research where you fancy going. The rise of online reviews has made a real impact as it gives holidaymakers more information to consider before booking. It is not just booking holidays that has been affected by tech. From online flight check-in to being able to check flight times before you go via the internet, the practicalities of travel have also been affected.

Recruitment

Another business sector to have felt the impact of technology is recruitment. The most obvious example of this has been the shift to online recruitment agencies which allow people to search for jobs without leaving the house. When you also factor in how professional online networking has made its presence felt, then it is clear to see how different this industry is compared to previous days.

It is also one industry that is set to use technology to great effect as the 2020s come closer. One example of this is online talent acquisition experts Censia. Led by Joanna Riley, the platform uses the latest tech tools like AI and data analysis to help companies find the perfect people to hire. Use of tech breakthroughs like AI and machine learning by organizations like Censia will increase as the 2020s go on.

Finance

One traditional sector that has seen change through the adoption of technology is finance. This is not just concerned with well-established older tech like online banking. The latest wave of digital disruption has seen this sector quick to respond. Most financial institutions offer mobile apps for people to use, for example, and include a wide range of useful features in them.

There is even a whole industry that has risen from finance and technology working together called FinTech. Companies in this fast-growing sector use tech developments to offer more efficient and streamlined services to their clients. FinTech shows just how much Finance has reacted to the tech revolution and is sure to become even more popular.

Media and Entertainment

Who can remember actually buying a print newspaper to read each day or being restricted to only a certain number of TV channels? What about listening to CD’s on a physical stereo system that you could not take out with you. Tech has made such an impact in media and entertainment that those days seem a long time ago.

New online streaming services deliver a huge choice in the music you can listen to on your smartphone or the TV shows you can watch on any device. Modern consumers expect to have the top-quality content they want, when they want it, which has forced media companies to react. Moving into the future, it seems that subscription streaming services will continue to boom and that the internet will become the major source of news for people.

Technology is crucial to modern business

While the above are some of the main sectors affected by technology, the truth is that the digital revolution has been felt across all. After all, most businesses now have a website, an email address and social media accounts, regardless of which industry they are in.

As we move into the future the influence of tech will only become more keenly felt. With new developments like machine learning, next-gen cloud computing and AR ready to make an impact, it will be exciting to see what happens. This is superb news for consumers but also represents a great opportunity for those businesses and industries who make the most of any new technology that becomes available.

 

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