Technology is a body of huge knowledge and effective tools that help in the efficient use of natural resources. It produces goods and services effectively and innovatively. Technology is very essential in the development of domestic and international economies. More advanced technology is a greater opportunity for rapid development.
Technology in development is vital for the economic development of any country. It helps in the expansion of modern industries in large areas. Technology reduces time and money to a large extent. It is a fast-driven tool of the modern era.
Technology in development help in various ways :
Technology in development help the sectors of the economy to become self-sufficient and fulfill the demand of the market to a greater extent
Modernization Technique in agriculture
The population of the world is increasing day by day at a faster rate. To fulfill their needs, efficient technology in development helps to produce more goods and solve the problem of agricultural goods needs. Technology in agriculture like the use of modern tractors, thresher machines, and fertilizers. As it is considered the pillar of the economy. Modern inputs help agriculture and also helps in providing raw material to secondary sectors hence industries are flourishing at a faster rate.
Technology in Industries
Industries are the engine of economic development. As it converts raw material into usable things. Hence technology helps in the faster production of goods and services. It saves time and money. Technology provides efficient machinery, reducing the cost of production and hassle-free production of goods. As a result industry sector is developing at a faster rate.
Boosting the IT Sector ( Information Technology)
With the help of Technology, we can take services from far away countries and provide them to the other economies of the world. In today’s world, almost everything is worked on gadgets like software and computers. Technology helps in development.
Efficiency in the Tertiary Sector
We can talk and see our loved ones without going to their places through video or call. It is the wonder of technology. Reaching one place to another place of far distance is just a matter of a second. If someone wants to go for meeting at a far distance then he or she can reach within an hour by train, bus or by plane. BPO known as (Business process outsourcing) and KPO that is (knowledge process outsourcing) are only possible due to technology. In Developing countries through the technology generation of employment, smart cities like dreams have been fulfilled.
Technology also helps the economy to be self-reliant and complete development economy. It helps the production of goods and services at the domestic level and also outside domestic countries. Which makes the domestic economy not dependent on developed countries.
Use of Potential Resources
In recent years the resources that are hidden or not used in a long period, only technology helps the use of these resources. Resources such as solar energy, tidal energy, and wind energy are only possible because of technology. As depleting natural resources boosted the use of efficient technology to think about alternative use of resources for economic development.
Research and Development
Better technology in development helps in research and development and more use of efficient technology in the process of development. Hence every sector needs research to make goods and services more productive and efficient. It helps the business to grow.
The skill of Human Capital formation
Technology in development helps in providing the skill to laborers and division of labor in different departments of work. It also helps in the specialization of skills and expertise to work more efficiently. Hence better human capital can participate more efficiently and can produce more.
Public infrastructure is very important for the development of an economy. It provides equal access to resources such as raw materials and services to citizens. The use of technology in development in public infrastructures like transport, water, electricity. Public places should be modernized so that work should be done at a faster rate.
Protection and Security
Technology in development helps in the protection of borders. Also, it Keeps strict vigilance on any type of crime. The introduction of computers and digital gadgets helped in the control of terrorists.
To sum up, the technology in developments during the last two decades has changed the lives of individuals and the work of almost every aspect of the business. The changes are accelerating and offering greater knowledge to the superior and educated. Hence knowledge processing is implied and very essential. In the current scenario, humans do much of the required knowledge in processing functions and cleverly execute the steps. As a result, the next generations of technology machines will take over the clever steps of human beings.
At last, we can say that technology in development is very necessary for better living standard. Good demographic profiles such as low death rate, birth rate, more literacy rate, and greater life expectancy all are possible due to technology. Technology in development helped primary sectors majorly farming sectors to improve the quality of produce. hence the living standard of the village improved.