How Tech is Rewriting the Rules in Crowdfunding, Education & More: Discover the Top 5 Industries Evolving Before Our Eyes!

March 16, 2024 | by magnews24.com

In this article, we’ll look over the five industries revolutionized by the uproar of technology.

The world we live in today is drastically different from the one only a few decades ago. However, these last few decades have encapsulated an enormous amount of change in terms of technology. From travel to education, technology has found its way into most industries today.

Crowdfunding

a photo of home pages for crowdfunding siteCrowdfunding sitesiStocks

Crowdfunding, the practice of raising small amounts of money from many people, dates back to the 1700s. Back then, crowdfunding was a simple venture: Your community gathered around and decided to help you. They went on to collect their money and then give it to the person in need.

Nowadays, however, most crowdfunding is done online through platforms like GoFundMe, where good-hearted people conduct online bank transfers to send their money to people in need. The past few years have also seen a rise in cashless crowdfunding platforms like CareBuzz.

It’s an innovative donation solution that transforms unused internet bandwidth into money. You download the CareBuzz app, choose a project you want to support, and start sharing your internet connection with the CareBuzz network.

Scientists and researchers use your bandwidth for data-driven projects, and you earn money in return. Finally, CareBuzz enables you to send those earnings to projects you support or to the people in need you want to help.


Translation

Amazon Alexa interpreter featureAlexa can translate between English and seven other languages
Amazon

Translating text or speech into a different language has always been arduous. It requires a lot of human resources to translate correctly and ensure the translated text fits the cultural and historical context of the language it’s being translated into.

Because of this, linguists have been trying to automate the translation process since the 1940s. And with the invention and spread of the internet, this process has moved incredibly fast. Now, most translators barely translate anything by hand or on paper.

Instead, they use digital translation engines like Deepl, Google Translate, and even artificial intelligence solutions. Platforms like ChatGPT have become so good at translating large chunks of text in seconds that all a human translator needs to proofread the text and tweak any cultural details if necessary.

Education

https://unsplash.com/photos/QckxruozjRgTech Trends in Higher Education
Annie Spratt

It’s no secret that the COVID-19 pandemic threw a curveball at the educational systems worldwide. Learning had to occur at home, which wouldn’t have been possible without technological solutions.

Thanks to tools like ZOOM, Google Meet, online learning environments, PDF formats for worksheets and textbooks, and others, education wasn’t stopped in its tracks once society was forced to stay home.

Although the global health emergency is over, many tools are still used today. Many educational institutions have switched to digital textbooks and test sheets; some even combine remote lessons with in-person classes.

TV and Film

YouTube on an iPhone4K YouTube videos don’t play in full resolution on iOS
GearBrain

When did you last watch a movie or a TV show on your regular TV? Since streaming services gained popularity in the 2000s, the TV and film industry hasn’t looked back.

Established in 2005, YouTube is the first video streaming service, followed by the first popular video-on-demand service, Netflix, released in 2007. During the golden age of streaming, traditional TV stations lost their competitive edge, as sites like Netflix offer affordable entertainment without any ads or long contracts.

Nowadays, however, the tables are turning, and many people are canceling their subscriptions to their numerous streaming services and returning back to their regular TV channels. What the future holds is unclear, but it’s evident that technology really transformed the industry.

Retail

FatFace retail storeFatFace is a British clothing store
iStock

Technology has totally transformed the way we buy everything, from clothing to cars. Today, we take things like self-checkout registers and online shopping for granted, but it wasn’t always the case.

Now, most stores have an app and a website for you to shop from the comfort of your own home. They also offer in-app delivery options, meaning your goodies will be delivered to your front door, and you won’t have to worry about anything.

Even stores like Tesla now allow you to pick out your car, customize it, and have it delivered. Yes, you can buy a hundred-thousand-dollar car only using your phone! How the retail industry will adapt to new technological advancements is still being determined, but it must decide whether it wants to remain profitable!

It’s important to note that many more industries than the ones on this list were affected by technological advancements. Everyone from livestock farmers to construction workers had to adapt to new tools and equipment, most of which made their jobs easier.

These advancements show no signs of slowing, so it’s only a matter of time before even more industries face changes to their day-to-day operations.

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