Creative destruction has been a point of contention battled for roughly a century now. From the vinyl-cassette-compact disc-MP3 transformation to assembly lines replacing individual workers, the familiar adage of “out with the old, in with the new” has spurred virulent fires. Generally, those being replaced argue against advancement, while forward-thinking visionaries defend the cause.
Sometimes, the creative destruction is a positive move forward, attested to by benefits brought about (viewed only through the clarity of hindsight of course), while other instances have proven that it’s best to leave well enough alone. Carl Marx’s Communist Manifesto is an excellent example of the negative potential of creative destruction, but one area that has proven to thrive from this concept is technological advancements. Technology entered our lives not long ago (from a historical point of view), and the world has never been the same since.
From telecommunications to manufacturing and shopping, technology has swooped in, transformed the way we view, interact with, and manage so many areas of our day-to-day life, and it’s by and large been changes for the better. Take a look at six industries where technology stepped in, took over, and has made us all the happier for it.
Industry #1: Personal Finance
One of the biggest areas of our lives that has been improved thanks to technology is personal finance. On a macro scale, consider the advancements in stock market trading and investments that have come about through the use of technology. People who would never have imagined investing or trading on the stock market a few years ago are making a killing using easy and convenient finance apps. With robo advisors and online trading apps, even the layman can get an education, make trades, and create profitable portfolios within minutes. You’ve even got competition within the tech-based advisors such as Wealthfront vs. Betterment, so you can have your pick of the litter when learning the trade.
Even those who aren’t interested in trading have benefited tremendously from personal finance apps. Just consider the convenience of using PayPal versus traditional payment methods and how that “small” application has changed the way we conduct business. Today, you can deposit a check via a mobile app, pay your bills online, and make transfers from one account to another as well due to technology taking over this field.
Industry #2: Travel Bookings
Travel used to be a major investment. It took time to save up for, effort to plan, and tremendous wherewithal to complete the journey. But today, you can get on a plane within hours of the initial notion to fly, arrive at your destination, and be sipping mojitos in no time. One of the main reasons travel is so much easier today than it used to be is technology. (And we’re not even referring to the technological advancements in modes of transportation. Obviously, flying to a remote location puts the possibility of travel into the reach of far more people than in previous generations, but that’s not what we’re talking about.)
Today, you can click on an app, punch in a few details such as destination and travel dates, and instantly you’re presented with a whole list of possibilities. Travel apps like Expedia, Skyscanner, and Kayak give you the best prices on flights, connecting flight options, hotels in the area, deals on car rentals, and more. You can look, book, and be travel-ready in minutes, having paid the best prices, gotten the most convenient dates, and even scored a deal or two in the process. It’s a good time to be alive for the wanderlust in us all.
Industry #3: Language Translation
If you’ve ever learned a second language, you know how difficult and time-consuming it can be to translate some text from one language to another. It could take a human translator hours or even weeks to translate texts, and that final draft will be riddled with unavoidable human errors. Today, this technology trend behind language translation is saving time and money, replacing the slower, more fallible options of the past. You can literally stick a phrase into DeepL or Google Translate and have a working translation in seconds. Seconds! Google even has a helpful tool that will let you have an entire conversation with someone translating each side of the conversation for the other party in real time. Say a phrase, it translates it into the foreign language. The listener reads what you meant to say, responds in their language, and then the app translates it back into your mother tongue. This is a brilliant innovation that has helped people through countless experiences on foreign soil.
And with machine learning hard at work, these translation apps are only getting smarter. Today, translator apps are learning more about language nuances, phrases, and can even incorporate things like slang or sarcasm into the texts. So, the translations are becoming richer and more accurate with time.
Industry #4: Personal Assistants/Secretaries
This might be the most commonly used area of life where technology moved in and took over like a boss. That’s because a personal assistant or secretary incorporates so many aspects of our daily lives. Just think about what a typical secretary does and how we’ve replaced these actions with comprehensive apps that do the job faster, cheaper, and more holistically:
- Answering the phone and taking messages
- Updating calendars
- Sending out reminders
- Collaborating schedules
Industry #5: Farmers and Ranchers
The image of the farmer in overalls riding his tractor and chewing on straw is dead. In its place, you’ll find technological devices and apparatuses covering every inch of the farming and ranching industries. To give you a clearer picture, just look at the numbers. A few short decades ago, farming made up more than 50% of the workforce in the United States. Today, that figure has shrunk down to a mere 2.5%.
In the place of Levy’s-totting farm hands, technology has risen to make farming and ranching more efficient, safer, and faster than ever before. Some of the coolest innovations in this area include:
- Air and soil sensors that assess the condition of the soil and water for optimal agricultural conditions
- Robots or agbots, as they’re called, automate harvesting, fruit picking, ploughing, soil maintenance, weeding, planting, irrigation, and more
- Livestock biometric collars
- Mass milking machines
Note: Not all of these are controlled directly by apps, but many of them are.
Industry #6: Libraries
We thought we’d save the best for last. How many times a day do you Google something? Whether it’s a song lyric, a hilarious meme you want to share, or a general knowledge tidbit that you’ll use to prove to your friend that cats really can be allergic to humans, Google is the handy tool that provides infinite answers with the tap of a finger. And it’s just one of many.
When a student has a research paper to write, they turn to the unlimited database of online applications. When we are looking for a great read for the weekend, there’s an app for that too. The many and varied use cases that once required the hallowed halls of a dimmed library have been filled by more modern alternatives. Today, apps give you access to millions (even billions) of texts that are making research easier, faster, and more exhaustive than ever before. Reading for pleasure is also just an app away, and sharing books with friends is infinitely more suitable on an app.
Technology: Paving the Way for Bigger, Better Things
And that’s before we even get into the basic areas we take for granted like using EZ-Pass instead of manned toll booths, car-sharing services like Uber to order a cab, or the massive intellectual revolution we’ve experienced using online education applications. The world is truly moving at a sensational speed forward, and technology is the grease that is keeping this wonderful machine running. We can’t know what the future will hold, but one thing’s for sure. It’s going to be a thrilling sight to behold!
