Technology is the term used to describe tools and systems humans use to achieve their goals. This can include anything from physical objects like utensils and machines to digital platforms and programs used in modern life. Technology is a powerful tool that has shaped history and continues to influence society and the economy today.
Modern technologies are complex, requiring extensive training and ongoing maintenance to operate. This complexity requires specialized education and training for the designers, builders and users. It also means that the costs for developing and maintaining these technologies can be high, with companies needing to spend significant resources on research and development.
Many people associate the word technology with gadgets – mobile phones, tablets, big TV’s, HiFi’s and cars to name but a few. But a more sophisticated definition of technology includes the software and applications that help make these devices work. It also encompasses the infrastructure that supports them – networks, servers and data centres for example.
When viewed from a business point of view, technology is the driving force behind innovation and entrepreneurship. It empowers entrepreneurs to take their ideas from an idea in their head into something real, with the potential to create real value and growth.
Technology can also have negative effects on our daily lives, such as environmental damage or cyber hacking that exposes personal information. This is why it’s important to take the time to evaluate and understand all of the benefits and drawbacks that come with technology.