Category: Advantages of Technology

In today’s world, it is necessary to use technology, especially when it comes to education. The computer has a very deep impact and important role in education. With the help of the computer now it is easy to impart education to students and also it is much more interesting than before. Computers has large capacities to store information and data. The computer enables quick processing of data with very low chances of errors. The computer has made the communication much easier over miles. It is not only for storage and processing but it is also for communication. The computer is important in education for job skills. Also, the computer is being used in banking, hospitals, medical and also for online shopping and educational institutes. The computer is a useful and powerful device which works very fast. It also helps to learn new skills which is an important part of today’s digital world.

Students nowadays cannot imagine studies without computers and the Internet, where the work and getting help become seamless and efficient. Computers can improve the student learning and basic skill area. Computers not only improve the learning process, but also increases retention of the students. Since education has also been affected by technology, it becomes an integral part of each student’s life.

The Advantages of the Computer in Education

Though there are many advantages of the computer in education. Some of the advantages of the computer in education are as follows:

1. Convenience. Student’s life has been made very easy and convenient with the help of the computer. Students can search many information and their work online with the help of computers. Also, during the Сovid-19 pandemic, it helps a lot to get online classes safely.
2. Online resources. It helps the students to decide a topic for their presentations, essays etc. Also, it helps them to get information and relevant data of their topic. Furthermore, it provides the facilities to get information of admission dates and also to submit online admission forms.
3. Study schedules. When students decide to choose particular courses, they need to see the real time information, updates, and the computer can help them to find it. The computer helps them to find the right timing of the course.
4. Better opportunities. Though the use of technology and the Internet combined, students come across a lot of different opportunities. They can find detailed information about them, see what fits best for their aspirations and success, and decide accordingly.
5. Quick communication. The computer provides quick communication between students, teacher and parents.

The Disadvantages of the Computer in Education

Despite the clear advantages of using the computer in education, it also has disadvantages. Excessive use of the computer by students lacks the verbal and non-verbal cues necessary for the development of social and emotional skills. When computers are being used in teaching, there are tendencies that the effective teaching will disappear between the teacher and the learner; it can become a barrier in communication between them. The computer can reduce the effectiveness of classroom learning and cause problems in the child’s school system. The gap between rich and poor can also be caused by the fact that computers are rarely available to poor students.

Conclusion

Summarizing all of the above, we can safely say that the computer is a useful and powerful device that is an important part of the modern digital world. Despite some shortcomings, it plays an essential role in modern education.

The world is changing at very high rate because of the advancement of technologies. Technologies are changing the face of each country. It also revolutionaries the way an industry performs. Over the year banking industry has also changed. This change has improved the experience of the customer substantially.

Innovation is changing the manner in which organizations work and convey items to customers in numerous divisions. We have cautions that recognize harmful substances in our air, restorative hardware that can distinguish hazardous conditions before they become an issue, or more brilliant PC programming to make controlling fundamental gear simpler than at any other time an industry that has seen gigantic advancements as of late is the utilization of innovation inside the money related world. The new trendy expression ‘FinTech’ is getting to be regular spot in the area and with a consistently developing corporate and customer center, the need to stay aware of progressions is seeing increasingly decision and an improved client experience no matter how you look at it.

There are many impacts of technologies in banking. Some of them are good while some of them are bad. Let us first understand the positive impact of technology in banking. The first thing we need to understand is the biggest milestone achieved by the banking industry is digitization. Digitization essentially refers to taking analog information and encoding it into zeroes and ones so that computers can store, process, and transmit such information. This allows easy and fast operations. The amount of work that used to take months now takes few hours to complete. This not only made the task of employee easier but also it makes the service customer centric. Customer Relationship Management (CRM) is based on this concept only. Technologies are used to provide the required service to the needy customer. In case of CRM, database is used to look into the services that have been availed by customer and what else an employee can provide a customer to make the relationship good between the customer and employee. This strategy has substantially increased the profit of the banks.

Banking process is faster than before and more reliable. Because every process is computer based. All the past records have been stored in the form of database. Maintenance and retrieval of documents and records have become much faster and easier.

Computerized banking also improves the core banking system. With CBS (core banking system) all branches have access to common centralized data and are interconnected, where they can search, compare and use the data. Core banking system is again technology-based innovation. Core banking increased the efficiency of the employee. Also, it helps in finding the laundered money. Anti-money laundering strategies involves the requirement of fully functional core banking solution. Money laundering can be prevented through this method.

Introduction of MICR in cheque is one of the crucial inventions of the banking sector. It helps in more efficient and faster than it used to be before. Cheque truncation system is the faster way of clearing transactions so that the transaction can be completed by the way of magnetic ink character reader which is again a technology-based process. This will help in clearing in one-two days even if the cheque is from different cities. There is one more service in which people with no Internet connectivity too can access their bank accounts without visiting the branch. This service is known as USSD (Unstructured Supplementary Service Data). Apart from these services, Internet banking is very useful in reaching customer at lower cost. All transaction can be done by the customer itself. Customer can also inquire about the transactions performed online without visiting bank. Now all banks offer Internet banking. It is safe and secure. It offered more transparency in transaction. Internet banking is completely secure as it requires user id and password. Along with that before doing transaction it sent one-time password (OTP) to the registered mobile number to validate the actual customer.

With the advancement of technology, the turnaround time of the banks has been decreased. This creates the condition of competition among the bank. This competition leads to better services to the customer.

Introduction of mobile banking, as discussed is very convenient way of doing transactions. Customer can access their bank from anywhere-anytime. Everything is one quick tap away.

To facilitate better services, banks have introduced automated banking services solution like cash deposit machine, cheque deposit machine, passbook printing machine, through these services have become easier.

Apart from the advantages of technologies in banking sector, there are some disadvantages. The biggest negative impact of technology is loss of jobs as automation has replaced number of jobs in banking sector. As the banking sector is increasing their dependency of work on technology, the need of manual task has decreased exponentially. This decreases the demand of employees, which will increase unemployment. This will affect the economy of the country in adverse way.

Though the system of transaction is very secure, there are several loopholes in Internet banking which leads to the cybercrime. In cyberattack, millions of data can be lost in blink of eyes. These technologies consume less time, it also sometimes makes people careless-which causes loss of personal details as happened in year 2016, many debit cards details of big banks were compromised.

In conclusion, it should be noted that innovation is a standout amongst the most significant variables for the advancement of humankind. Data innovation and correspondence is the greatest volumes in the field of innovation, the telephone is for the handling, stockpiling and scattering of data by electronic methods. Banking is developing quickly with the utilization of innovation in the ATM, bank web-based banking, versatile banking, and so on., plastic card is a financial item accommodate the necessities of the retail fragment has seen its numbers develop in geometric movement lately. This development has been unequivocally impacted by advancements in innovation. Since the coin has two sides, innovations additionally have different sides in the financial sector – positive and negative. The dangers are high, however they are generally limited and technology will become the backbone of the banking industry in the near future.