We have harnessed information technology, and it has changed the way we transact business on the internet. With it, we have forged a new economy by creating and using e-commerce to buy, sell, and communicate online. People all across the globe no longer have to worry about time, distance, language, culture, and currency differences.
Millions have opened an online storefront that enables them to carry on business internationally. Smaller businesses can compete with many larger companies and reach new markets never thought possible in the past. We will look at information technology’s impact on our economy, and business, industry, government, and personal applications. We are living in a new age that is turning our economy around.
Information Technology’s Impact on Our Economy
Everywhere you look, someone is using information technology for business or personal use. Many of us don’t recognize exactly how IT impacts our daily economy. It does this by:
- It has redefined organizational boundaries – Millions of Americans are now working from home due to the virus pandemic. This is all made possible by using information technology with its varied electronic devices.
- Relationships can be established and maintained with clients, customers, partners, suppliers, and governments at all levels.
- Most business functions can be carried out online from the office or home.
- We depend on information technology and cannot do without it.
- Many accounts are hacked by unscrupulous people which creates the most negative impact. Specialized IT professionals work daily to protect commercial and personal information from these thieves.
Business and Industry Applications
IT business and industry applications used today are virtually endless. From single-person enterprises to large corporations, this technology rules our economy with these functions:
- Internal and external communication
- Market research – current and potential customers
- Advertising and promoting products and services
- Managing employees, accounting, and finance
- Worldwide sales to many markets
- Managing inventory, shipping, and receiving goods
All industries feel the impact of current information technology practices, and find managing privacy a priority. There are many useful business applications for information technology.
We have harnessed information technology, and it has changed the way we transact business on the internet. With it, we have forged a new economy by creating and using e-commerce to buy, sell, and communicate online.”
How the Government Uses IT
Information and communication technology is useful in promoting more mutual government and citizen transparency and participation. Because IT equipment and its maintenance are costly, some levels of government have been slow to buy into adopting advanced electronics.
Currently, the government at the federal, state and local levels is attempting to upgrade their IT:
- The military manages membership, plans training and battles and observes nations.
- Social Security helps retirees, disabled persons, widows, and minor children.
- Medicare is vital for paying doctors, hospitals, clinics, and medical treatment bills.
- The Veterans Administration pays pensions, burial benefits, and medical bills.
- Medicaid aids low-income families by paying medical bills and state welfare.
- Federal welfare provides food, pays medical bills, and provides subsidized housing.
Other branches and levels have found many other applications to operate more efficiently. Their effective applications depend on up-to-the-date communication and information technology and skilled users.
Personal IT Use Is Booming
Social media has taken a stronghold during the last decade and is growing exponentially. While businesses use apps for finance, individuals also use them for personal finance such as banking, budgeting, record keeping, and investments.
Consumers purchase large quantities of laptops, tablets, phones, and other IT devices to make life easier. Our cars and trucks use advanced computers to keep them running smoothly and make it easier for mechanics to detect problems.
The available apps are so numerous today that they can’t all be mentioned here. Your favorite ones will continue to evolve into something better and more useful.
Study Information Technology with ITI Technical College
Anyone seeking a career in IT should consider earning a college degree to get ahead. An excellent opportunity exists at ITI Technical College. Prepare yourself with an Associate of Occupational Studies (AOS) Degree in the Information Technology Program. Your chances of landing a good entry-level job will significantly improve.
For more information about graduation rates, the median debt of students who completed the program, and other important information, please visit our website at: https://iticollege.edu/disclosures/