Managing Internet Tech Change Wisely

Business Standard     15th March 2021     Save    
QEP Pocket Notes

Context: Recent internet technology revolution is following the path of past technological revolutions by impacting human society both positively and negatively.

Impacts of Technological Revolutions:

  • Chemical Technology:
    • Positive Effect: inexpensive synthetic fertilisers and pesticides accrued the following benefits-
      • Increase in the output of grains and vegetables through pesticides.
      • Cheaper and lighter substitutes for cotton, metal and wood by the creation of synthetic plastics.
      • Healthier and disease-free lives through the creation of affordable synthetic pharma drugs.
    • Negative Effect:
      • Environmental pollution: Rachel Carson’s (in her book Silent Spring) advocacy against synthetic pesticides has led to the ban of DDT and the creation of an environmental agency in U.S.
      • Loss of Employment: widespread use of synthetic textile materials like nylon has resulted in the closing of Bombay cotton textile mills (largest employer).
  • Information Technology:
    • Positive Effect: greater variety and faster serviced at much lower prices.
    • Negative Effects:
      • Privacy issues: reached a crisis after it was disclosed that U.S. voters’ profiles from a social media network were used to influence the 2016 U.S. presidential election,
      • Society shaking changes: Destroying long-established businesses and jobs through the adoption of the following three ‘D’’s:
        • Digitisation: paper-printed newspapers and magazines and celluloid-based cinema are taking digital versions.
        • Disaggregation (with the industry): classified ads in jobs and matrimonial splitting off newspapers to become stand-alone giant-sized online businesses.
        • Dis-intermediation: media entities are reaching consumers/viewers directly, skipping intermediaries (dealers/distributors/cable operators/cinema theatre).

Conclusion: Knowledge gained from past technological revolutions can be used by policymaking to guide the path of the internet revolution in all sectors for the benefit of all mankind.

QEP Pocket Notes