Impact Of Technology On The Economy - 1197 Words

Over the years we have seen massive changes not only in our personal lives, but as well as in the workplace. These drastic changes are due to the rise in technology and how it will continue to affect the way the economy works when looking at unemployment rates, economic growth, and inflation. It is becoming quite clear that the future of the workplace will be less centralized, more flexible, more mobile, and with a stronger use of AI. These along with other trends will continue to grow with the increase in mobile technology, the never-ending race for top talent, and economic volatility. The future of the work place will not only grow and attempt, but it will continue to influence the way the economy functions. The increase in mobile technology, has had a significant influence on how the corporate world not only works, but functions as well. One of the effects of advancements in mobile technology is how it continues to modify the labor market. The speed and efficiency, mobile technology has to offer, has turned into the go to technology for most employers and employees. This has allowed for employees to be more flexible when concerning their work. This has had a rather positive effect on unemployment rates because employees are not confined to one spot. They are now able to access their work on the go and thus making it easier for them to conduct business immediately (see fig. 1). However, there is concern that the rise in technology in other fields will start to have aShow MoreRelatedThe Impact Of Technology On The Economy1066 Words   |  5 PagesInformation technology has an impact on many different aspects of our life. Technology has influenced the economy and on the way people live, c ommunicate and work. The growth and improvement of technology yields to a greater output and huge impact on the economy. Technology innovation provides more efficient and cheaper ways to make existing goods. 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