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The document discusses the impact of technological advancements across various economic sectors, highlighting the role of robotics, AI, additive manufacturing, and GPS in enhancing productivity and efficiency. It also explores the transformation brought by e-commerce, detailing its types, benefits, and drawbacks for both consumers and businesses. Overall, it emphasizes how technology is reshaping production processes, decision-making, and service delivery in the modern economy.

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Manal Siraj
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9 views

Document 1

The document discusses the impact of technological advancements across various economic sectors, highlighting the role of robotics, AI, additive manufacturing, and GPS in enhancing productivity and efficiency. It also explores the transformation brought by e-commerce, detailing its types, benefits, and drawbacks for both consumers and businesses. Overall, it emphasizes how technology is reshaping production processes, decision-making, and service delivery in the modern economy.

Uploaded by

Manal Siraj
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Introduction: Technological Advancements

When more innovative and developed technologies are used and included in
manufacturing, improving quality, productivity, and efficiency, it is called technological
advancements in production. The primary force behind the technological evolution is the
transition towards Industry 4.0

Prominent contributions to advanced Technology

1. Robotics
It has helped transform the production process by automating repetitive operation,
hence improving productivity, and minimizing human error.
2. Artificial Intelligence (AI)
Amongs the very well knows advanced technology is AI, giving the capability of
machines and computer systems to carry out tasks that are normally run by
humans.
3. Additive manufacturing
It is referred to as 3D printing where the building of a three-dimensional object takes
place with reference to a digital model

Primary sector: Advanced Technological Impact

The primary sector is segments in the economy that involve in the extraction of raw
materials from the earth. The introduction of more developed technology into the primary
sector is altering conventional methods while tackling modern problems

Key Impacts
1. Enhanced productivity and efficiency
With the introduction of robotics and automation in farming, many tasks that
require human labor for repetitive work have been replaced allowing more focus
into the more economical aspects of farming. This has also allowed a great
reduction in human error as well as a significant increase in productivity and
efficiency.
2. Data Analytics and decision making.
With artificial intelligence analyzing vast amounts of data, farmers can take well-
informed and more rational farming-related decisions. Sensors and drones can
track crop health, weather patterns and soil conditions, creating a possibility for
well management techniques.

3. Genetic Modification
GM is referred to as the altering of DNA in an organism. A very prominent gene
editing technology is CRISPR. With the capability of altering DNA, CRISPR is used to
help in developing more pestss, disease, and unfavorable condition resistant crops,
as well as producing crops with an increased nutrient content. This helps to control
many limiting resources while also using sustainable development and increasing
crop yield.

4. GPS
The use of GPS can help track suitable land for crops and paddy fields. This can
lower further costs for industries for finding available lands and controlling resource
use.

Secondary sector: Advanced Technological


Impact
The secondary sector is a segment of the economy which works on the manufacturing of
raw materials to finished or semi-finished goods. The introduction of technology has
increased productivity and production efficiency.

Key impacts

1. Manufacturing production processes have been completely transformed by


automation and robotics. Industrial robots are now essential for automating precise
and repetitive activities, increasing productivity, and lowering errors. Additionally,
adaptive processes made possible by flexible automation systems enable rapid
modifications to production lines. Cobots, or collaborative robots, assist human
employees in the workplace, increasing output while maintaining security.
2. More responsive and effective smart factories have been produced through the
integration of IoT, AI, and big data analytics.
Better supply chain management, process optimization, and predictive
maintenance are made possible by real-time data analysis.
These developments have decreased their negative effects on the environment and
increased operational efficiency.
3. The use of 3D printing has revolutionized conventional manufacturing methods. It
permits the production of complex geometries and personalized goods, cutting
down on waste in production procedures.

Tertiary sector: Advanced Technological Impact


The tertiary sector is a segment of the economy that delivers services to fulfill
human needs and wants. The tertiary sector has seen immense transformation
because of technological improvements, which have brought about new business
models, increased efficiency, and innovation.

Key impacts.
1. Many services have been automated being replaced by drones and robots.
Drones have been used for delivering packages to customers’ doorstep. This
has led to a decrease in human errors and a rise in productivity and customer
satisfaction.
2. Technology has taken over the education services too with VR, virtual reality
making learning more immersive and enjoyable. In addition, there have been
many e learning platforms where multiple students from various parts of the
world come together as one for the sake of education.
3. Transportation services now have self-driving cars, which as the name suggests
are cars that drive themselves using sensors and AI, making travel less stressful
and more convenient for people unable to drive.
4. Brands can send more personalized ads towards consumers based on recent
searches and site data. This would provide ads and certain discounts that are
tailored just for you.
Introduction: E-Commerce

Electronics commerce refers to the trading of goods and services using the internet as a
median, reducing the need to be physically existing.

Types of E- Commerce

• Business to Consumers
Sale of goods and services from a business to a consumer
Eg: Noon, Shein, Amazon

• Business to Business
Sale of goods and services from a business to business
Eg: DH Gate, Alibaba

• Consumer to consumer
Sale of goods and services from a consumer to consumer
Eg: Haraaj, Etsy, e Bay

Benefits of E-Commerce to consumers

* Due to its conveniency, many online customers can go shopping from the
comfort of their own home, having retail therapy at just the tip of your fingers.
* Access to globally wide products that are not sourced locally.
* Many products sold online are offered at cheaper prices making it cost
efficient for consumers.

Drawbacks of E- Commerce to consumers


* Images provided for the sale of the product may not be to scale and could be
deemed misleading.
* As confidential information of consumers is provided, it would be considered
dangerous since it could be hacked, leaked, or can be a source of blackmail.
* The quality of certain products sold online may not be quite good and
consumers may have negative feedback for this case. This is due to cheaper
prices and the inability for consumers to confirm if a product is of high quality or
not. Additionally, products shipped from international areas may have damage
to them as there are millions of other consumers on the platform and would not
be maintained well during shipments.

Benefits of E-Commerce to businesses

* E-commerce allows businesses to reach a wider global customer base,


expanding their market significantly
* The costs of business operations would be reduced, like the costs of rent for
business location, utilities etc.
* Having the business open 24/7 can increase customer satisfaction and can
make the platform more profitable and prominent.
* The rise of e-commerce encourages businesses to innovate continuously.
Companies that adapt to online trends can stay competitive in a rapidly evolving
marketplace, capitalizing on modern technologies and consumer preferences.

Drawbacks of E-Commerce to businesses


*Businesses must constantly innovate and differentiate themselves to stand out
among numerous similar offerings. This intense rivalry can make it difficult for
companies to maintain market share and profitability.

* E-commerce businesses handle sensitive customer data, making them prime


targets for cybersecurity threats. Ensuring robust security measures is essential
but can be costly and complex.

* Providing effective customer service in an online environment can be more


challenging than in traditional retail settings. This can be due to a lack of face-
to-face interactions between consumer and business organization, which may
make it difficult to handle serious complaints.

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