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Impacts of Digital Era on Social Life and Economy

Digital era or digital age is the era that we are living in, is indicated by extreme socio-economic progress on the scale that is same as that of the Industrial Revolution. Digital era is not the ending it’s the beginning of the modern world. It is up to us to take advantage of this or ruin our lives by using useless stuff which is here on the internet. We just have to wait, watch and get whatever technology throws at us.

Technological Events in Digital era and Outcomes

  • Library expansion

 Library expansion occurred during Digital era. Progress and availability of fast and less expensive PCs resulted in easy sharing of information for both users and workers. Most of the analog data in the libraries was converted to digital form which resulted in Library expansion.

  • Information Storage

World’s technological storage capacity increased from 2.6 Exabyte to 15.8 Exabyte during the Digital era.

  • Information transmission

World’s technological capacity to receive information increased from 432 Exabyte’s to 1.9 petabytes during digital era.

  • Computation

World’s technological capacity to compute information increased from 3.8 x 10^8 MIPS to 6.4 x10^12 MIPS during Digital era.

Socio-economic impact

Digital revolution has a lot of good and bad socio-economic impacts. Digital revolution has changed the ways of our lives in many ways. We can now pay our bills online with just one touch, we can make online transactions and use various apps such as dictionary. In other words our lives have become digital.

Digital Era Concerns

There are lots of concerns regarding information storage during the digital era. Information could easily be changed or get lost while it is being stored in digital form. From the perspective of the historian, a large part of human information present in written format or as physical objects. History can be changed if it is stored in digital form.

Some information on the internet can hurt the feelings of other religious groups which can result in war between nations. Sharing information about weapons can result in misuse of weapons which can cause serious consequences. 

Impact on jobs and income distribution

Digital era has affected work force in many ways. Automation has resulted in job loss. Workers are replaced by computers which perform jobs more effectively. Traditionally jobs were available in middle class such as line workers, supervisors, operators have disappeared because of automation. People who lose their jobs this way either settle with mid workers like engineers, doctors or they work as low grade workers with poor wages

Author :Center for Recent Innovations - European Union
Pulished date: 04-30-16
Pulisher:
Springer with the Collaboration of LearnRnd
Source URL:http://www.learnrnd.com/news.php?id=Impacts_of_Digital_Era_on_Social_Life_and_Economy
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