It is safe to say we are well on our way into a tech revolution. In fact, the movement is sweeping the nation. New iPhones are released at rapid speed (at least in first world countries), and everyone wants to get their fingers on the latest gadgets.
A report from The World Bank shows how the economy of the tech industry is contributing to a greater divide between the rich and the poor. More specifically, “the effect of technology on global productivity, expansion of opportunity for the poor and the middle class and the spread of accountable governance has so far been less than expected.”
Not only is this directly increasing the socioeconomic partition, but the report also shows that global productivity is slowing down. The tech revolution contributes to growing inequalities, especially in developed countries. The difference between lower and upper class is painfully obvious in the United States. Is technology to blame?
Well, despite the incredible advances in technology, an overwhelming number of people are still living in the Dark Ages. A staggering 60% of the world’s population does not have Internet access. Think about how many times in one day you go on Facebook, check your email, or browse Yahoo! News. How often do you use the Internet to apply for jobs, look for a house, or search for a phone number? Are you completing these endless tasks on a desktop? Because 2 billion people do not even own a cell phone much less an iPhone.
If you do not own the technology, it seems impossible to be able to work in the tech industry. The lack of access is not the only issue either. Machines have replaced people because many low-level jobs are automated, which results in a decrease of employment.
The workers need access to higher education in order to be qualified for the higher-level jobs. The tech world is like an exclusive club. The companies are controlled by those who have high positions. It is essential to have education and resources before even thinking about getting into these enterprises.
Not only that, monopolies have taken over the technology sector. There are giants that conglomerate the industry like Google, Microsoft, and Facebook. Competition is not encouraged among tech companies. MySpace and Facebook do not coexist. When was the last time you heard about Ask Jeeves? Exactly.
If we want to jump these hurdles, the first step is that everyone must have access to the Internet. Before that is obtained, people do not even have a chance to compete in a society ruled by technology. Furthermore, the economy needs to open up in regards to technology. The World Bank report explains implementing better laws and enforcing comprehensive regulations will help create a better environment for technology and business. This will encourage more competition and zero monopolies. Future trading partners will have the freedom for innovation.
Improving the technical situation of the world is only one way to bridge the gap between the rich and the poor. Equal opportunity needs to be available to all walks of life. All socioeconomic backgrounds deserve fair education and training. The World Bank wants “accountable institutions” to help empower all students with necessary skills. Industry-wide standards for rules and regulations will help those already in the tech business. This will hold those within the tech sector accountable.
The essence of the Internet can also help with the global technological revolution. If you have the opportunity to access the Internet, you have access to a countless amount of resources at your fingertips. The sky is the limit when it comes to starting an online business. Your venture can prosper off your sheer hard work. No matter what you start, it will not involve a large investment or complicated bureaucracy. You can quickly and easily launch an online sales platform, rent out your room on Airbnb, or promote a service. There is no need to worry about your credit or visiting a credit union for loans. It is a stress-free way to start a business. You can even use services like Amazon to help drive traffic to your website. You have a lot of potential for success.
In conclusion, The World Bank makes it clear that the Internet must be shared worldwide. It is critical that everyone has access to it. Next, the tech economy should be better controlled by meaningful legislation. This will create an equal opportunity for everyone. Those that still have limited resources must be trained appropriately by particular schools. The hardest part of the entire initiative is the fact that those involved with the tech sector must agree to make a change. They can provide necessary skills to work within the technical field and have the resources to improve the social and work challenges around the world.