In: Finance
Using specific historical and contemporary examples, discuss the positive and negative consequences of technology, including the “unintended consequences” of technological progress.
The technology has become part and parcel of our lives. We cannot think of our lives without it. Sometimes, it craetes some problem and apart from this, it is very beneficial of ourselves as well.
The technology has created lots of issue in the past as well. Certain data breach has happened due to technology. We now stores the record in electronic form so anyone can hack the system and access the files. The banks oftern faces these types of situation. The financial industry is perhaps at the biggest threat due to technology leaks and this has happened in past. But it also helps in keeing the recoed in a cost effective manner. The time required is also less and effective.
In the modern situation also, it can be seen that certain advantages and disadvantages hane happened. The advantages can be numerous such as development of virtual relaity. This technology has been applied successfully in mediacal industry to cure the dieseases. There is also negative side as well. Recently, there were data leak in data analytics copany and it affected the political situation in a certain countries.