Ten years ago, helicopter taxis would have sounded as a ludicrous idea and catered only for the very rich. Fast forward today, we have silent cars from Tesla, self-drive cars driving around in Google campus in United States, drone deliveries within countries – technology has certainly advanced at an extraordinary rate in recent years.

As technology continues to evolve, most of us are unaware of the significant impact that technology advances have on our lives. The impact of technological change has seamlessly integrated into our population, influencing our behaviours, decisions and actions. While this is no cause for worry, here are three key takeaways from the rapidly-changing technology in the world today.

There is always a price to pay for technology
This is not in reference to the hefty price tags that comes with technology, such as the recent release of iPhone 13 which’s expected price up to USD $1250. While technology has certainly paved a way to improve and enhance our daily lives, we must not forget about the inherent disadvantages that comes with it as well. One clear example would be social media platforms such as Facebook, Instagram and Youtube. On one hand, it provides a platform for advertisers, budding singers or influencers to reach a broader audience, catapulting them to fame. On the flip side, it has also brought about a wave of newfound troubles, such as infringement of private photos or data breaches resulting in personal or confidential data being leaked to the world. For all the benefits that technology has brought, we have to also bear in mind the negative consequences that it could possibly bring about.

There will always be winners and losers in the technology rat race
This is what we call the digital disruption. Technological changes are bound to have some impact in our lives – be it on the population, jobs or even intangible items. For instance, there have been a lot of buzz regarding drone deliveries or drone taxis. Sounds fancy and certainly a quicker and more efficient way to expedite deliveries. But this would also mean that delivery drivers or taxi drivers are likely to be less in demand. In the next decade, these jobs could be rendered obsolete. While no one is able to prophesize the extent of impact that technology will have on our jobs or daily lives in the upcoming years, most of us can be certain that technology will disrupt our daily lives.

Technology tends to become “mythic”
The definition of mythic in this context is referring to the fact once technology has become completely ingrained in our lives, we tend to forget that technology was once invented by someone at a certain point in time. For instance, Facebook and Instagram did not exist twenty years ago. Virtual reality did not always existed. The concern here is that once technology has become an inherent part of our lives, it is exceedingly difficult to change.

While there is a lot of buzz around the rate at which technology is advancing, it is certainly not surprising when fast-forwarded to decades later. There are likely to be more dramatic and advanced technology in years to come.

Author's Bio: 

Based in Singapore, i-Admin offers world-class, easy-to-use payroll solutions using technology and systems infrastructure that exceed industry standards. Our proprietary technology platform provides a singular web-based service that delivers electronic payslips and other e-Services to our clients. We offer payroll services to companies of all types and industries across 15 countries in Asia.

As a leading regional provider of cloud-based SaaS payroll and HR management solutions, we achieve uncompromised efficiency, security and service quality to our clients’ organisations and employees, further helping our clients’ to save on large financial technological investments.