Technology is the use of knowledge to create products or services. It encompasses both tangible tools like utensils and machines and intangible ones, such as software. It also refers to processes that enable people to do things more efficiently or quickly.
Most people think of technology as gadgets, such as phones, computers, TVs and HiFis. However, economists are more concerned with the ways technology changes production. They see it as a key factor in allowing people to make more money.
In the field of education, technology has made the learning process interesting for students. Students can now access a vast ocean of information on the internet and complete their projects in a much shorter time than before. Additionally, they can learn at their own pace without worrying about being left behind by the rest of the class.
Using advanced technologies such as VR/AR and touchscreen boards in schools also makes classes exciting for students, and helps teachers keep their students’ attention. For instance, in science classes, students can see scientific concepts as visual graphics on the screen, while in geography, they can go on educational tours of different destinations without leaving the classroom.
As more and more companies upgrade their technological resources, the competitive landscape in the business world has shifted dramatically. Now, it’s a top priority for most leading organizations to have technology at their disposal in order to improve productivity and compete effectively in a global market.