Posted on: 2022-07-20 16:55:30

The tech world has experienced exponential growth in the last two centuries. It started with the invention of the steam engine which connected cities to small towns and then we saw the inventions of the telephone, cars, electric lamps, the radio, nuclear power to produce energy, the discovery of penicillin, mass production of computers, the use of robots for manufacturing, mobile phones and finally one of the biggest inventions, the Internet. All these inventions not just helped the tech world, but all entire mankind.
We have seen two world wars and the rise and fall of many nations in modern history. However, the internet and other modern innovations have brought the world closer together. We have become truly globalized because of the ease of communication and trade in the world today. Access to technology means different things for developed and developing countries. For the developed world, more connectivity means business opportunity, but for the developing world, it means growth. It is an opportunity for developing countries to use modern innovations to uplift their society.

Following are examples of companies and individuals who used technology to uplift an entire section of people in their community:

Broadband for Good:

Broadband for Good is an organization that helps people gain access to the internet in rural areas of developing countries. It helps communities by conducting programs that help people in rural areas understand and access internet services. Programs like these don't necessarily provide people with expertise in any one subject. However, it creates curiosity and acceptance of technology/the internet in the lives of millions of people. Programs like these help people get educated, build businesses, and make the youth aspirational, eventually creating a better future for those communities.

Jayaashree Industries:

Arunachalam Muruganantham founded Jayaashree Industries, an eco-friendly, affordable sanitary napkin manufacturing company. He invented the machine that produced sanitary pads for just one rupee per napkin, which is about one-fifth the price of other reputable brands. Arunachalam realized early in the journey of Jayaashree Industries that he could not go door to door by himself to sell sanitary pads to women in rural areas. This is because it is still a taboo subject there. So, he came up with the idea of hiring women to do the job and making money themselves. As a result of Jayaashree Industries' efforts, thousands of women now have employment and business opportunities.
Technology is always associated with robots, complex codes on computer screens, and other things that are not part of the everyday lives of most people. However, that notion is not accurate. Technology is used in almost everything we do. While these are just two examples, technology can be extremely helpful in advancing the prosperity of economies and societies when used correctly. Today, we can see small business owners, vegetable vendors, and auto-rickshaw drivers using UPI to collect their fair. As technology penetrates different and diverse markets at an increasing rate, it won't be wrong to say that in the future, no one will be left out of the benefits of technology. Therefore, it is essential to get ahead of the race and become an expert before others.
To know more about the Impact of Technology on Economics, Society, and Politics, join our webinar by Dr. Abhinay Muthoo. Dr. Abhinay Muthoo has 37 years of teaching and research experience, across several universities including Cambridge, the LSE, Harvard, Bristol, Warwick, and Essex and he is currently teaching at MDAE for PG Diploma Programs.
MDAE offers a Post Graduate Diploma in Economics as well as a Data Science and Finance program. The programs serve as the 16th year of education and help our students get jobs at top corporations and top universities around the world. Our students are placed at companies like Reliance Industries, Aditya Birla Group, Deloitte, Morningstar, Mu Sigma, and many other companies. The curriculum is based on courses taught at the London School of Economics and Political Science (LSE) in Oxford, one of the most prestigious schools in the world. In addition to a strong foundation in Mathematics and Statistics, Python, and Machine Learning, we also strive to develop soft skills in all our students.
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Written by- Omkar Shraddha Dharmapal Manjrekar
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