Innovation for transformation: how technology can change socioeconomic outcomes

Sep 29, 2022 | Africa, Announcements, Countries, Education, Financing, Home Page, Manufacturing, Markets, Middle East, Sectors, Snippets

ABiQ outlines how technology can change socioeconomic outcomes. Technology advances at an exponential pace, every day. Technology has the potential to drastically change socioeconomic outcomes, especially in underdeveloped countries.

ABiQ outlines how technology can change socioeconomic outcomes. 

Technology advances at an exponential pace, every day. Technology has the potential to drastically change socioeconomic outcomes, especially in underdeveloped countries. The Internet has opened up incredible opportunities, especially when it comes to job opportunities and business development. In an increasingly digital world, technology is a key factor that enables positive socioeconomic outcomes.

How can technology change socioeconomic outcomes?

Access to, and the use of, technology are more prevalent among people occupying a more privileged socioeconomic status. Access to technology, however, especially for those in developing countries, can drastically change socioeconomic conditions for the better. Here are some of the ways technology can change socioeconomic outcomes:

Job creation

Unemployment is relatively high throughout the world, especially in developing countries. Technology plays an important role in creating new jobs. A few years ago, YouTube Content Creators, Uber Drivers, and Drone Operators did not exist. As technology advances, new jobs are created. Jobs that are around today didn’t exist 10 years ago, and the same goes for the next 10 years.

Income

Technology makes it possible for people to earn an income, no matter where they are in the world. All you need is a laptop and a good internet connection. Digital platforms, like Upwork and Fiverr, have enabled millions of people to earn an income, challenging conventional ideas about how work should be conducted. 

Over the past few years, there’s been a massive increase in people using the internet to earn an income. Anyone from tutors, to personal trainers, to psychologists, and more, have shifted to an online business model. This not only allows them to earn an income, but it also provides easy access to important services.

Education

Technology has extended the reach of education beyond the four walls of a traditional classroom or lecture room. Technology provides students with an abundance of information helping them learn. Technology has enabled new methods of learning through online courses. Students can now learn from the comfort of their own homes, or wherever they feel comfortable. In-person classes are a thing of the past thanks to eLearning. 

Technology enables true transformation and positive socioeconomic outcomes. In particular, we’re constantly seeing how technology has put developing countries on the fast track towards improved development. At ABiQ, we focus on supporting the development of the African and Middle Eastern markets, highlighting investment opportunities, to help businesses make the right choice when it comes to their role in investment, economic development and socioeconomic improvement. ABiQ provides validated data and trusted business intelligence. Our unique forecasting and project tracking tool provides data and analysis to support your business growth strategy across the African continent and more. Contact us for a free demo.

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