The New Oil called “Tech”
From the development of steam powered machines in the 1700s to emergence of efficiently powered electronic engines and artificial intelligence in the 1900s, it is important to note that the world’s industrial revolution has brought ease to the daily activities of people in the world as it stands today.
The word ‘Technology’ is coined from the Greek word ‘techne’, it means ‘science of craft’ or ‘art’. According Wikipedia it is “the sum of techniques, skills, methods, and processes used in the production of goods or services or in the accomplishment of objectives, such as scientific investigation.”
Funnily the first tools that marked the dawn of technology were ‘stones’, which were used as knives and hammers. Humanity quickly adopted research and science and by the Neolithic Revolution, the world had moved from the production of food by foraging to agriculture.
“Revolution was its merger of technology with industry. Key inventions and innovations served to shape virtually every existing sector of human activity along industrial lines, while also creating many new industries.” — National Geographic Channel.
Rapidly improving upon her infrastructure and implementing innovations, technology was quickly adopted into the areas of power, textile, metallurgy, transportation, and many more.
In 1937, a shift in the advancements of tech occurred as computers were designed by the Iowa State Mathematician and Physicist; John Atanasoff, who used binary numbers to design the first digital computer with capacitors as it’s storage device. This innovation led to a rapid advancement in the world of tech. This innovation might as well be recorded as one of the most significant breakthroughs in the world of tech.
Another significant breakthrough was introduced years later, though one of the most sophisticated, in 1956 at the Dartmouth conference, Artificial Intelligence gained it’s name. Today Forbes records that Artificial Intelligence is at the forefront of changing the world and the way we live.
More industries, like the Oil and Gas sector, Automobile and others, having garnered knowledge about the uprisings in tech, moved swiftly to adopt Artificial Intelligence and many other technological advancements into their daily operation cutting about 20% (or more) of their operational cost.
By 2020, job trends revealed that many job opportunities, about 60% revolved around tech, and being skilled in it. The global pandemic led many corporations who were not well informed of the applications of tech to bankruptcy, while it opened wide doors of opportunities for those who were. Thousands and thousands lost their jobs, because they were uninformed and unskilled, as adjustments were made to fully adopt tech into the various corporations.
It therefore means that tech today, is the new oil. It promises to grace billions of people with access to financial stability, ease in carrying out daily activities, speed, as well as cost reduction for many companies.
As these trends evolve, it is important we take note of them, and see that we quickly garner knowledge and skill as to how we can use these infrastructure for the benefit of ourselves as well as our immediate environment.
This publication is the introduction for the 5/5 Tech Enlightenment series, which aims at informing the public of trends in tech like AI, Web development and more, please follow for more articles…
