Impacts of Information Technology on Society in the New Century

 Computing and communications have been revolutionized in recent decades, and there are all signs that technological advancements and the use of information technology are continuing at a rapid pace. In addition to the dramatic improvement in performance and use of new information technologies, communication costs have decreased as a result of both technological improvements and increased competition. According to Moore's Law, the processing power of microchips doubles every 18 months. These advancements offer many important opportunities, but also pose major challenges. Today, innovations in information technology have far-reaching implications in many areas of society, and policy makers are taking action on economic productivity, intellectual property rights, privacy and information accessibility. The choices made now will have lasting consequences and their social and economic impact must be taken into account.

Perhaps one of the most significant achievements of advancements in information technology is e-commerce on the Internet, a new way of doing business. Although it is only a few years old, it can radically change economic activities and the social environment. It is already affecting sectors as broad as communications, finance and retail, and could expand into areas such as education and health services. This includes the transparent use of information and communication technologies throughout the value chain of an electronically managed company.

The impact of information technology and e-commerce on business models, trade, market structure, workplace, labor market, education, data protection and society as a whole.

1. Business models, trade and market structure

One of the main ways information technology affects work is the importance of reducing distance. The geographic spread of work is changing radically in many industries. For example, some software companies have found that they can overcome the narrow local software developer market by sending projects to India or other countries where salaries are much lower. In addition, such agreements can take advantage of time differences, so that critical projects can run almost 24 hours a day. Companies can outsource production to other countries and rely on telecommunications to keep marketing teams, R&D and sales in close contact with European manufacturing groups. Technology can thus allow for a finer division of labor between countries, which in turn affects the relative demand for different skills in each country. Technology makes it possible to disconnect different types of work and employment. Businesses have more freedom to locate their economic activities, which leads to more competition between regions in the markets for infrastructure, labor, capital and other resources. It also opens the door to regulatory arbitrage: companies are increasingly able to opt for tax and other applicable regulations.

Computers and communication technologies also prefer forms of production and distribution that are close to the market. A computing and communications technology infrastructure that provides low-cost, 24-hour access to nearly all types of prices and product information that buyers want will reduce information barriers to the efficient functioning of the market. This infrastructure could also provide the ability to conduct transactions in real time and create redundant intermediaries, such as sellers, brokers and travel agents, whose role is to provide an important information link between buyers and sellers. Seller. Removing middlemen would reduce costs in the production and distribution value chain. Information technology has enabled the development of an improved mail order business, where goods can be quickly ordered over the telephone or computer network and then shipped by suppliers through integrated shipping companies that rely heavily on computers and communication technology to control their operations

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