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“IT is a holistic “digital brain” of the organization.” - Pearl Zhu, Digital Master
Current Event 1
Information Revolution
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he current technology that we are living at is known as Information Age. It began in the 20th century in which all information is computerized with the development of computers, microchips, and social media. It is a shift from industrial revolution to information revolution in which everything is computerized. This would provide the service sector to operate in an efficient way, more job opportunity, and increase labour productivity that will contribute to productivity growth that can benefit the GDP. Besides, the people are allowed to access the information that can involve in the daily activity such as trading, banking, management, socializing, learning, and backup documents. Thus, Information Revolution not only contributes to the overall economy but the society. Firstly, the Information Age has affected the labour force as there is an increase in competition in the global market. More demand for skilled labours in the market because everything is information-
based and computer skill
becomes an essential skill.
This can increase labour productivity because there is an increase applications in IT that will lead to an increase in GDP.
More job opportunity
Besides, it provides more job opportunity to the low-income population. For example, Cisco’s Networking Academy program has prepared over 5 million jobs for entry-level ICT jobs. (Pepper, 2015). Thus, there is more equal in the income distribution that will contribute to the country's GDP. The global poverty rate shows a decline from 1.9 billion to 1.3 billion. (Pepper, 2015). This is due to the fact that there are more jobs in the low-income population
and lead to economic growth.
Benefit the business world
Information Technology allows a more efficient work and increases in overall productivity. For example, workers are free to work on other staffs while computers are monitoring and tracking the products in automation way. Besides, companies are allowed to store their information on electronic cloud systems as a protection of records. Therefore, it will benefit the businesses and reduce the amount of time used by the employees, increasing the efficiency of the company. (Pepper, 2015). Thus, these are the three benefits of information revolution have on the businesses and also the economy.
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