DIGITALIZATION – BOON OR BANE
“The only thing that is constant is change. "- Heraclitus
In this fast-paced world where everything changes drastically, we have to accept change. If we look back over the last three decades, there has been a transition that has also improved connectivity around the world.
KODAK CASE STUDY
The world will change completely next. If industries don't adapt to change, 70-80% of industries will be closed. This is clear from the above scenario where 170,000 people worked at Kodak in 1998. They sold 85% of the world's photo paper. When digital photography hit the market, Kodak was pulled from the market, resulting in the company's bankruptcy. All his employees were on their way.
Other examples are Ambassador Car, Nokia Handy, Bajaj Scooter, Rajdoot Bike, Murphy Radio, etc. There was no lack of quality, but they were not on the market. The main reason was "THEY HAVE NOT CHANGED OVER TIME".
Digitization has helped all sectors
Some of the most common signs of a change in the digital revolution are the shift from landlines to 4G smartphones, which has also reached many rural areas. According to statistics, the number of users will reach 627 million by the end of 2019.
We could also see an effect in the banking sector. Now people no longer have to be about to update their savings account or transfer money, as online banking has made the process much easier.
People have started using digital wallets like Paytm, Google Pay, etc.
\ Digitization has also contributed to literacy. Users can now find information from Wikipedia, blogs, and articles online. Technology has also made specialty online courses independent of everyday classrooms. Digitization has also triggered the development of online work, which has opened the door to job creation for data entry, online sales, software and web developers, creative professionals, etc.
There was also a sudden boom in the e-commerce industry that created many vacancies in the logistics industry. From warehouse management and inventory management to marketing developers, the e-commerce industry has had career opportunities.
Digitization has also affected the investment sector. We can now open mutual funds online just by filling out a form, and digital verification in mutual funds is also done online. KYC only takes a few minutes and you can do it by sitting in any corner of the world
Digitization has also offered startups a great opportunity. In India, the number of tech startups has increased in recent years, expanding the demands for a job in various fields such as big data, digital marketing, content creation, web and app development.
Social media services, cloud computing, etc. Prime Minister Narendra Modi's "DIGITAL INDIA" has also had a major impact on the development of the economy and on helping small businesses and startups.
In the Women's Safety section we could also see the “Nirbhaya App” and the “Himmat App”.
DIGITALIZATION CAN ALSO LEAD TO SCENARIOS SCENARIOS
For example, Uber is just an app on your phone. He does not have a car and is still the largest taxi company in the world. Airbnb is the largest hotel company in the world, although it does not have its own hotel.
In the United States, young attorneys can no longer work because IBM Watson software offers better legal advice in seconds. In such a scenario, 80 to 90% of American lawyers will find themselves unemployed for the next 10 years. There is software called "Watson" that is reportedly four times more accurate than humans in diagnosing cancer.
The day is not far off when artificial intelligence takes over the world. Soon we will see subways and driverless cars. There will be a time when you reserve an uber car and there will be a self-drive car at your doorstep. This will reduce accidents and car and bicycle insurance activities will cease. There will be no employment of drivers in the world.
In the last 10 years, there has not been a single place where PCO was not present. But when the mobile phone hit the market, it was in everyone's pocket and the PCOs were closed. Everyone with PCOs started selling recharge cards for cellular networks.
With digitization, online recharging has become much easier. If you look around you, you can see that one in three stores on the market today sells cell phones, accessories, repairs and maintenance.
Train and plane tickets are also managed by mobile phone. The currency is also being replaced by plastic money and digital wallets. "THIS IS THE TRANSITION" The world is changing rapidly and if we don't keep our eyes open we will be left behind. It's time to prepare for changes over time.
A person has to constantly change his business and nature over time or we will get lost in the middle of a changing world.