The Impact of Technology on Business and Society


The development of technology began with the human race’s use of natural resources to create simple tools. The discovery of fire in prehistoric times provided increased food supplies, while the wheel helped humans move around their environment. Other technological advances, such as the printing press, telephone, and the Internet, reduced physical barriers and increased communication. Not all technological advances have been used for peaceful purposes, however, and weapons with increasing destructive power have evolved throughout history. To learn more about the history of technology and its development, read this article.

Application of scientific results and knowledge

Science encompasses the systematic study of the physical world. Technology, on the other hand, involves the application of scientific results and knowledge. Oxford Reference contains 210,000 concise definitions and in-depth specialist encyclopedia entries on all areas of science and technology. The entries are written by respected authorities and supported by illustrative line drawings, equations, charts, and illustrations. Whether you are learning about an emerging technology or a history of science, Oxford Reference has something for you.

Cost of new technologies

In many industries, the adoption of new technologies is necessary to increase productivity and lower costs. However, the initial development costs are quite high, and the indirect costs of product and service development add up. This is a reason why many enterprises don’t adopt new technologies or fail to see any long-term benefit. However, there are ways to reduce these costs, and one of them is to automate the maintenance process. Here are some examples.

Impact of technology on society

Despite the ubiquity of modern technology, many of its effects remain hidden to the general public. The pace of change is so fast that the social impacts of these innovations are often imperceptible to the average person. The social effects of technology are becoming almost as significant as the technological effects themselves. This article will explore the impact of new technologies on society. It will also explore the implications of the spread of these innovations. It will focus on the social impact of technology and how it impacts business and society.