TED ALİAĞA COLLEGE / 11-B
How Did Modern Technology and Digitalization Affect Our Economies ?
Talha Arda BOz
The Internet has been affecting and changing our lives since it started spreading across the world in every way . Economies have been affected too .
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The speed of digital technology development has been accelerating specifically in the last ten years . The economic impact of companies such as Facebook , Amazon , and Google on our lives has been huge . As of December 2021 , Amazon has a market cap of 1.724 trillion , which is nearly about South Korea ’ s total GDP and bigger than the economies of 178 countries . Amazon only by itself , created more than 950.000 jobs and an enormous market . In addition to this , According to a World Bank / IFC report , there is an increase in economic growth of 1.3 percentage points for every 10 percentage-point increase in high-speed Internet connections .
These developments created their results : changed governments , spread data , made everything cheaper and more accessible than ever in the history of humanity .
In 2020 , with COVID-19 , we saw the benefits of these changes that made it possible to stay safe in our houses and this process accelerated the integration of technology into our lives , providing online meetings , classes , orders , and workspaces .
As a result of these dramatic changes , possible risks have emerged . These are the reasons why we should educate ourselves and the public about digital citizenship , cyber-security issues , and completing the digital transformation process , which will eventually affect our economies soon .