Several industries are getting significant boosts from ever-changing technology. While every industry has seen some degree of evolution thanks to thinks like smart devices and cloud computing, some have seen more of a revolution than others. The amount and speed of tech that powers them have forced them to evolve, in some cases abandoning long-standing business models.
When you think of the industries that have changed most because of technology, construction may not be the first one to come to mind, but the changes have been significant. Cloud computing and advanced applications have helped streamline the building process, making modern construction faster and safer than in previous years.
The fashion industry has also seen some changes. Technology makes it so easy to share fashion ideas and trends that it has shaped consumer preferences. In addition, technology is making it easier for consumers to imagine what clothing would look like in reality via virtual fitting rooms.
The world of finance has changed as well. Whereas once upon a time, you had to go to a bank to transact business, technology has brought all of that online. Many people conduct all of their financial business online, depositing checks on the go and paying bills. Technology has also enabled online loans, peer-to-peer lending, cryptocurrency and other alternative finance options.
Technology is changing hospitality, too. People used to make travel arrangements through a travel agent, or they would have to phone their hotel directly. Today, most people make their own hotel reservations online.
Technology is infiltrating much of the world, including the way people live. Smart home devices are everywhere, from systems that turn on lights or appliances at a word or speaker systems that play whatever music you can imagine. These offerings, in particular, are only going to increase as lifestyle technology becomes more ubiquitous.
Changes to the world of media have happened alongside the creation of a lifestyle industry. Print newspapers, cable services, DVDs and CDs are largely on the way out. Instead, most people stream whatever content they like through dedicated apps, subscription services or the internet. Record shops and video rental stores have largely disappeared. Cable could be next.
Medicine has changed as well. Technology helps companies develop prescriptions more quickly, surgeons to perform surgeries more precisely, and doctors access patient information, medical studies and best practices readily.
From material handling and conveyor systems to personalised medicine and digital health, the future of medicine will continue to develop and the sky is the limit.
Some of the same changes happening in the media industry are also happening in retail. Many brick-and-mortar stores are closing in favor of online counterparts. At the same time, many stores that had once only had a local or regional presence are finding that they can grow beyond their borders.
The security industry has changed as well. For instance, security camera systems were once only seen in the most secure facilities. Now there are residential options as well as those for small business. They also offer next-gen features like high resolution, night vision, wireless recording, motion detection, two-way audio and more. These features would have been unheard of not very long ago.
Technology has caused many industries to become unrecognizable from what they were a few decades ago. Construction and fashion, finance and hospitality, lifestyle and media — each of these industries have evolved because of technological developments. The medical and retail sectors have changed too, as well as the security industry.