\"Technology Explosions,\" a simple name for a familiar phenomenon - namely that
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"Technology Explosions," a simple name for a familiar phenomenon - namely that technological evolution is accelerating in an explosive manner. Technology is exploding in the same way that the atomic nuclei in a nuclear bomb explode: by exhibiting an unconstrained exponential growth process." "The internet explosion was a period of tremendous growth in the latter half of the 1990s. In the 1994-1996 time frame, it changed from a scientific and governmental research network to a commercial and consumer marketplace." Ease of use and speed will be very important product features, in the future. Amazon and Tesla will lead this trend. Amazon, with their new grocery store model and Tesla is working hard to create a self-driving car that can traverse the United States no matter the terrain. It is easy to see that this trend will continue, but what will it create? Smart cereal boxes? Smart headphones? The opportunities are endless. Given all we know, research and, read about this,"technology" explosion, answer the following questions: Might we see an end or, at the very least, a significant slowdown in the speed of technological advances, in the next 5-0 years? Explain. Examples? In your opinion, is such rapid technological advances good for America and American businesses? Explain. In your opinion, what is one of the negatives of such massive technology growth? Example?
Explanation / Answer
Might we see an end or, at the very least, a significant slowdown in the speed of technological advances, in the next 5-0 years? Explain. Examples?
The technology will become further disruptive in the next 5-10 years. There is no reason why it will slow down. It is expected to change the pace and the way things are done in a fast-forward manner. We can take example of artificial intelligence, which is expected to power 85% of customer service interactions by 2020, and drive $33 million of the annual economic growth.
Further it will impact many other industries like healthcare, marketing, lifestyle, finance and transportation. To begin with the AI will start by collecting data and have huge human interaction. The data has to be analyzed which cannot be done without technological interventions as it will be huge data.
In healthcare, it will support the physician by intervening and taking care of his menial routine tasks. It will be used to provide personalized health care to all the patients as when it helps the patient by informing the time to take medicines it will record all the information. Based on recorded information more research and future drugs will be developed. The side effects of the drugs will also be given directly to the researcher and he can rework his research to create more efficient formulations. In marketing by sending more customized messages to the consumers and creating better brand impact. The lifestyle of people will be changed because of the support they get from Alexa their virtual assistant. AI is already working to bring out self-drive cars eliminating the stress of driving. It will be used in finance to reduce frauds and verify credit card transactions.
Technology is moving at a rapid pace and will continue to growth and the dimension is unseen and unknown but it will certainly disrupt our way of life.
In your opinion, is such rapid technological advances good for America and American businesses? Explain.
Yes, the rapid technological advances are good for America and the world.
For example AI can assist in health care. The physician can get more details of patients medicines usage and then the patient care can be improved. The patients also constantly monitored by Alexa will take medicines more efficiently. It will remind old geriatric patients to maintain their medical schedule and ensure better health care is provided.
It could save thousands of patients from the adverse reactions of patients.
Further the example of change in transportation where Google test-drive a self driven car which travelled 1.8 million miles and killed on 13 people that also because of other persons fault. It will change the need to hire drivers and eliminate the inefficiencies in driving. Further, it will save 1.3 million people who die due to road accidents.
In your opinion, what is one of the negatives of such massive technology growth? Example?
The massive changes in technology will come with their set of problems. We continue with example of Artificial Intelligence and their interface in the healthcare and medical practices. In case a patient is given incorrect medication on the suggestion of AI. It could be fatal and patient could die by adverse reaction. Who can blamed the AI or the doctor? But despite the negatives and the potential benefits of increased efficiencies, number of lives which can be saved, reduction in frauds and malpractices, also reduction in time consumed on unproductive activities etc are a huge plus in favor of technological growth.
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