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Which industries has technology changed the most?

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Almost every industry, business and individual in the world has been impacted by modern technology in one way or another – especially during the last couple of decades. 

The pandemic drove us to do more online than ever before, with global internet penetration at around 62% and rising. At the same time, environmental concerns are forcing rapid innovation in areas such as energy and transport, as the world searches for more efficient solutions.

As a result, businesses who fail to embrace technology increasingly risk being left behind. A recent global survey found only 35% of Australians felt their organisations had clear and coherent digital strategies – leaving the rest struggling to keep up. 

So which industries have been most heavily influenced by technology in recent times?

Architecture and construction

Technology has revolutionised the way architecture and construction firms sell and execute projects. 

Developers now create 3D models of projects before building work begins, helping them spot design flaws and provide better visualisations for clients. On construction sites meanwhile, workers use tools like augmented reality to help visualise building steps, while automation is reducing human error and improving worker safety. 

Entertainment

It was just a few years ago that we were watching terrestrial TV and buying or renting DVDs of our favourite films. But the rise of streaming platforms has changed the way we find and consume entertainment, with companies such as Netflix paving the way with their subscription models. 

The music world has gone a similar way, with streaming platforms taking over from physical CDs and tapes.

Finance

In days gone by, it was necessary for individuals and businesses to visit a bank to complete transactions. But online banking and mobile banking and now contactless payments have changed all that, with cryptocurrency now entering the mainstream too. 

Investing has also become more accessible. Almost anyone can become a forex trader and start making trades from their smartphone, for example. 

Medicine 

Modern technology has improved the speed, effectiveness and safety of almost all aspects of medicine. 

Prescriptions can be created and delivered quicker, while surgical techniques have advanced to reduce patient risk. Data systems meanwhile allow better access to a greater volume of patient information, with patients able to request and access care from the comfort of their homes. 

Automotive

While it may be a few more years yet before we see driverless cars, hybrid and electric vehicles have grown in popularity as we collectively work to reduce carbon emissions. New electric vehicle sales have recently tripled in Australia.

Safety has also been revolutionised by technology, with features such as lane-tracking and automatic braking now commonplace in modern vehicles.

 

Other industries transformed by technology include manufacturing, fashion and security. Which sector do you think needs shaking up?

Stanley Gatero is a writer at Disrupt Magazine. He covers topics concerning technology, entrepreneurship, news, and sports. He is an avid traveler.

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