New technologies

economic-dictionary

The ‘new technologies’ are those technological currents that are marking a change in the industrial and social model in the global economy.

In other words, it consists of a set of early creation or development technologies that are part of the so-called ‘digital revolution’.

This revolution is the most important economic event after the beginning of the Industrial Revolution in the middle of the 18th century.

Main technologies

New technologies are in part a cause of the appearance of the concept of ‘digital revolution’ and can be highlighted as the main ones:

  • Artificial intelligence (AI): Artificial intelligence is a technology that involves replicating or imitating reasoning, processes or actions considered until now exclusively of human origin. This technology can be applied to devices such as wristbands, TVs, or mobiles, so that they can be 'smart'. It can even be applied to the city itself, calling the concept a ‘smart city’.
  • Blockchain (Blockchain): The blockchain It is a technology that enables the exchange of information and data in an anonymous and unavoidable way. It can be applied in crypto assets, smart contracts, among other applications.
  • Internet of things (IoT): This technology combines all those technologies that favor connectivity between devices, its main showcase being home automation (a set of systems that allow the control and automation of the different installations or appliances in a home). An example of the strong progress in this technological sector is the rise of the Internet of generations, such as 4G, 5G or 6G.
  • Augmented and virtual reality (VR): Taking our sensory experiences to their maximum exponent in an artificial way is one of the great assets of the digital revolution: That is, leaving aside the 2D plane to deepen experiences beyond 3D. An example of the possibilities of this technology is its application to surgery, being able to perform a remote operation through the combination of robotics and augmented reality.
  • Unmanned flying vehicles (drones): This class of artifacts is being one of the great novelties of social change that the digital revolution promises. Until now, only birds and commercial planes crossed the airspace, but with the arrival of drones the scene has completely changed. Such is its youth as a technology, that there are still places in Europe where its use has not been regulated.

Thus, although there are a multitude of technologies that can gain weight and displace and even combine with those already explained, what characterizes those already explained is their multidisciplinary nature. That is, its potential use in different sectors and areas of the company.

Examples of the change brought about by new technologies

In the social, economic and industrial panorama, the digital revolution and the new technologies that lead it are reason for changes that have come to stay.

Some of the most prominent changes are:

  • At the social level: A change is taking place by leaps and bounds from an analogical social model limited to face-to-face, to a more digital model with greater possibilities at a distance. Examples are teleworking, education, meeting people, attending events or leisure of character on-line, etc. This opens up the possibility of carrying out remote activities that were previously impossible or unthinkable to do without being in person. Examples of this can be banking operations or studying a master's degree digitally.
  • On an economic level: The economy has never been so interconnected since digital advances have been adopted. This interconnection has as its greatest supporter globalization itself. Which consists of roughly in eliminating the existing barriers between countries or continents. Giving rise, in this line, to an economy in which the efficiency and self-regulation of the market prevail, given its great capacity to exchange information.
  • At the industrial level: In the industrial revolution, a rural model with population and economic decentralization was changed, to a model in which wealth began to be concentrated in large cities. In this aspect, with the digital revolution, there is the possibility not precisely of reversing this aspect, but that a lower-ranking city may be an option thanks to the advantages that digital advances entail. Therefore, at an industrial level, it may mean the end of having cities as the only option to live close to the workplace.

If we combine the three changes exposed, the result is, on the one hand, a society that is on its way to spend more time interacting with digital through smart devices of any kind.

On the other hand, an economy is also emerging in which ties will be so close that we will opt for products and services at a global level, but we will also have rapidly spreading local crises.

Finally, at an industrial level, the role of the city as a labor and innovation cluster will be strengthened, but favoring the development of peripheral areas and radial towns and not necessarily large cities.

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