As business operations constantly improve to increase production and efficiency, the interplay of technology systems has become necessary. Developing countries have begun to adapt existing technologies from more advanced countries and are seen to be pioneering the latest technology trends. Technological innovations result when new rules and ideas find practical use through being applied and/or commercialized by entrepreneurs.
Today we live in a technological ‘age’ and global economy where competition has become knowledge-based. In modern theories of growth and development technological innovation has taken the centre stage. There is a growing relationship between technological innovation and entrepreneurship which has led to global growth and development.
Technological innovation contributes to higher levels of economic output and can deliver new goods and services that change human lives and capabilities. Technological change has transformed the quality of our lives thus making daily activities easier and seamless for the average Nigerian.
Some recent developments in technology include; i) The Smartphone Revolution ii) Online Payment Systems iii) The use of websites and social media platforms as a tool for doing business iv) Improved Navigation Systems v) The Cashless Economy (The use of Point of Sale (POS) terminals for payment)
Let’s keep the conversation going. How has new technology influenced your daily activities? (your business, lifestyle choices, the workplace etc.). Please write in our comment section.
