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Technology and Innovativeness: Developing Countries and the Challenges They Face

Explore the impact of technology and innovation on developing countries, focusing on agriculture, medicine, education, and business. Discover the transformative role of mobile money transfer in improving banking services.

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Technology and Innovativeness: Developing Countries and the Challenges They Face

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  1. How technology and innovativeness has contributed in developing the country against the challenges it facesby: kamau johnochieng’ georgemunialomeshack

  2. introduction • The impact of technology on society is unquestionable. Whether considering the plow, vaccinations, or the internet, technology has had a huge impact on society. While not every advance has been beneficial, there have been many positive effects of technology. In order to understand the impact of these changes on society, it can be helpful to consider each field separately. Impact of Technology on Society

  3. Agriculture • Agriculture has seen huge improvements because of the advances in technology. While in early times, the majority of each country was made up of farmland, today, only a very small percentage of the landmass is used growing food. Technology has allowed farmers to grow better crops in a smaller space and get a higher yield per acre.

  4. Medicine • With the discovery of penicillin, the world of pharmaceuticals grew exponentially. Antibiotics were one of the few medical advances that allowed doctors to heal patients and saved millions of lives. Medical technology also expanded and devices such as life support machines allowed medical professionals to sustain life and improved their ability to treat patients. Whole organ transplants used to be unheard of, but now kidney transplants have become common in today’s society. The medical world is constantly changing as more and more inventions which improve patient care are being developed.

  5. Education • Any mention of the effects of technology on society would be incomplete without mentioning the advances in education. Since the development of public education, an affordable education is available to almost anyone who wants to improve their mind. More and more people are seeking out college degrees and tuitions are much more affordable. Another option that has become popularized in recent years is online classes and online colleges. For students who may not live near a good school or have to work full-time, they now have the option of attending an online college and earning a degree at their own pace. This development has had a huge impact on students today and has opened the door for students from all walks of life to obtain a college degree.

  6. Business • One final point to make about the impact of technology on society is the effect on business. Businesses are able to grow and expand much more easily in today’s society, with multiple technological resources. It’s also much easier for individuals to start smaller businesses and promote those businesses through internet sites and other advances. • These are some of the positive effects of technology broken down into separate fields. With the ever-changing world of technology, it’s hard to predict what the future will hold for each field. Great improvements and strides are constantly being made in every area to improve the quality of life for each person.

  7. Mobile Money Transfer • Mobile money transfer refers to provision and availment of banking- and financial services with the help of mobile telecommunication devices. Kenya's Safaricom (part of the Vodafone group) has the M-Pesa Service, which is mainly used to transfer limited amounts of money, but increasingly used to pay utility bills as well. M-Pesa is a payment product, not a savings product.it is understood why this number is so high and if this represents the initial stages of development where, with targeted regulations, the industry can begin to offer products that provide greater access to those who are truly unbanked.

  8. cont… The M-Pesa technology has greatly changed the performance in the banking sector • M-pesa has removed repetitive, time consuming tasks, reduced human error and extended access to banking related facilities. Telephone traction allows non-cash transactions to be carried out, which would have required a visit to a branch earlier. • Cost Reduction: this feature has been realized and well understood by the banking industry KCB and the banking industry in general. • M-Pesa has enhanced the blossoming and adoption of the electronic banking and Internet has seen banks realize enormous cost savings by moving a myriad of services online. From customer service centers, to online tracking of packages and to online brokerages.

  9. END

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