DIGITALIZATION

 

This new digital era can be daunting and worrisome for some, especially the older generation who often disapprove of this new way of doing things. But how beneficial really are these digital developments? Here, we take a look at the advantages and disadvantages of digitalization.

Advantages

• The digital era brings all kinds of information to our very fingertips thanks to the centralization and accessibility of data. For example, people now rely heavily on computers and mobile phones with internet, which give you an immediate answer to any questions you might have.
• Digitalization has also transformed our ability to communicate, with numerous applications which allow us to send messages to each other immediately and in many different formats. For example, mentioning someone’s name on a social media post or doing a video call.
• We are also better able to communicate new ideas, thanks to digitalization, which helps them to spread more quickly. We no longer only have access to the thoughts of the wealthiest, most powerful members of society; anybody has the ability to get their message out there now.
• Digitalization has opened up a new world of opportunity when it comes to jobs, due to the remote working that the internet has allowed for. There are now completely new job roles like internet technology specialists, and anyone can open their own online business which is an amazing new advantage.
• Lastly, it has increased commercial competition so much that consumers now have so many more options to choose from, which is a positive as it means that we are no longer dictated to by the biggest companies and the prices they decide to charge. The digital era is also bringing digital currency which makes financial exchanges faster and easier, which is especially advantageous for international trade. For example, crypto-currencies may become an acceptable form of currency for international trade in the near future. 

Disadvantages

• The benefits of digitalization have a flip side. The centralization of control over our wealth and personal information means that we are putting all of our eggs in one basket. While technology eradicates human error, it is not immune to failure so by relying on something that is not totally reliable, we are running the risk of losing control of our assets. Handing control over also opens us up to digital crime like hackers, who have unknown destructive potential.
• The ease of communication can have a negative impact on our real-life social skills and weakens the strength of the community.
• Easy access to information increases the chance of its misuse, for example, the incorrect self-diagnosis for health conditions, and it allows the spread of false information which can be used for manipulative purposes.
• Finally, the fast-paced, shallow nature of digital exchanges could create a more passive society that is unable to consider ideas on a deeper level or with any passion.

Digitalization has many obvious advantages such as accessibility to information, easy and immediate communication and ability to share information, new jobs, and increased commercial competition.  However, there are also downsides to this such as over-dependence on an unreliable source, the risk of being hacked, the weakening of social skills and the sense of community, and the misuse of information. 

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