Introduction
Our lives now revolve around digital technology. We have the world at our fingertips through technological advancements. Cell phones and laptops have become a big part of our lives. The internet provides us information in minutes, and social media helps us to stay connected with our loved ones. Not only this, but digital technologies have also made it possible to do everything online. In this article, we are going to discuss the future of the digital world.
The digital world has made our lives better. The devices that you have in your hand and on your desks are still in the early stages of development. So, there are so many limitations to the digital world. With our dependence on technology, there are many questions that arise: Will the digital world be able to provide limitless opportunities to everyone? Would digitalization help to make a prosperous future world? How will digitalization impact the digital world?
Digital Economy that Leads to a Digital World
The digital economy includes everything from cheaper Smartphones to IT technologies, Artificial Intelligence, and Virtual reality. According to the research of IDATE Digiworld, it might also be possible that the digital world leads to the telecom industry’s replacement by more cross-industry mergers between various networks, technology, media, television, etc.
Bitcoins, blockchains, and online mobile payments can impact the future of banking and finance. There will be a higher tendency to depend on Bitcoins. If there is further development in internet services, it might lead to the cut out of the middleman from industries like travel and retail. However, digitalization has indirectly handed over personal data in the finance sector to affect insurance premiums or request loans. There are possibilities that the business sector will be more dependable on the Internet of Things, Artificial Intelligence, and Big Data.
With all these advancements in the business world and the overall economy, digitalization will also make a significant impact on our lives.
Major Concerns Regarding the Future of the Digital World
- Unemployment: Unemployment has been a big concern for the whole world. It might be possible that life will not be suitable for most individuals if the current trend of digitalization expands and extends further. The giant technology company and the platforms that offer services in exchange for data and marketing dollars might replace humans in workplaces.
- Increase in Artificial Intelligence: Believe it or not, but technology is moving toward human-level artificial intelligence. Due to this, it has become a concern that, what if Artificial Intelligence will get smarter than us?
- No Real Human Agency: Today’s world is indeed slipping toward the world with no human agency. After 50 years, people will be dependable on technology for almost everything.
- Market Capitalism: It might be possible that profit-based enterprises will make its dominance over the world. All the big players will be MNCs.
- Less Human Interaction: Digitalization has already made people less interactive, but in the future, it might be possible that people tend toward living a more isolated life.
- Security Concern: The growth of the internet can lead to enormous misinformation, security, and other concerns.
