Just like acceleration, efficiency is another important thing that technology brings to the table. There is growing emphasis on efficiency around the world, and technology fills the primary requirement of increasing efficiency in many areas. It is very clear that there is unlimited scope for efficiency in areas where a human life is at stake. Technology enhances the efficiency in such critical fields like healthcare and security. Be it latest diagnosis and scanning machines in hospitals or secure live networks syncing international data on individuals around the world, technology brings efficiency to these fields.
In the field of marketing, technology brings in efficiency like never before. Cutting edge software applications have made customer relationship management far more efficient. Connecting with the customer virtually one-on-one is now possible for companies with millions of customers. Companies can make more effective use of advertising budgets by reaching the right set of customers through the right medium at the right time. Technology also helps in making enterprise resource management more efficiently. Retailers of any size, varying from walmarts of the world to mom-and-pop stores, can maintain their supply chains more effectively using computer software and networks.
Then there are a whole lot of areas like travel, telecommunication, information management and so on where technology has the dual effect of bringing in both efficiency and acceleration to the table. For example in case of internet search, technological advancement helps us efficiently mine through terabytes of data to reach to the right information in a fraction of a second.
When we look into technology adoption in developing countries, or countries where there is no shortage of human labor, this efficiency effect of technology counts the most. Be it healthcare, education, telecommunication or security, if technology is increasing efficiency that cannot be brought in otherwise, technology will be embraced. Due to the efficiency aspect of technology, we will see wider and deeper penetration of technology around the world in the times to come.