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3 Ways Exponential Technology Impact Society

May 31, 2020

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Advancements in technology have resulted in changes in society. This includes business, customer experience, and how cities operate. Modern technology improves in capability and performance each period and allows businesses to do things that were previously impossible. This allows this technology to have a significant impact on the world. Here are some of the ways that exponential technology impacts society.

Changes in Regulation

When municipalities set regulations, they’re based on what is considered possible. They don’t want people doing things that might be dangerous to the public. For example, some municipalities don’t want people flying personal drones in highly populated areas. When Amazon started working on using drones to provide products to customers, it changed the way that municipalities thought about these regulations. Amazon can be trusted to operate in a safe way and allowing them to use drones for this purpose can have a positive impact on customers. For this reason, certain regulations in countries are starting to change.

Decrease Shipment Time

At one time, if you ordered an item, it could take weeks before you received it. The product would have to be shipped from a far-away location and travel on roads to reach your home. That changed when companies started using air travel to ship products. Now customers could receive products from across the country within a day or two instead of weeks. Companies are using advanced technology to continually decrease shipment time with the use of drones and other devices. Deliveries that now take a day or two will soon be able to arrive on the same day.

Impact on Business Operation

In the past, every business had a physical location. To receive a product from a company, you had to physically travel to the store. That changed with the invention of catalogues as people could order products from their homes and have them delivered. The internet made this even easier and advancements in travel allow for quicker delivery times. Now, businesses don’t have to occupy a physical location. While they might require a warehouse, they can exist to customers solely on the internet. As technology continues to advance, it continues to change how businesses operate, how they interact with customers, and how their employees complete daily tasks.

Exponential technologies are those that continue to rapidly advance and change the way the world operates. These technologies have significant impacts on everything from business to customer experience and legislative regulation. These are three ways that the world is impacted by exponential technology.