Pros & Cons due to the growth of Digital Technology !!
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| Source: the sheet.ng |
Days are numbered and it won't be long before 6 out of 10 jobs will be taken over by automated machines in the professional world. Artificial Intelligence (AI) technology is improving rapidly. But are we on the verge of singularity? Unlikely according to experts, but we have to admit that AI is definitely better than us at a whole raft of things from games to problem-solving. For example, the fastest time for solving a Rubick's cube by a human is 4.69s whereas AI took hardly 0.38s.
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| Source: ai-house.dk |
Lending money was always done with money lenders and bankers. How could a computer code manage all these tasks? Even if it did what would happen to these bankers?
ATMs' are the prime example!
The number of ATMs' being robbed and being tampered which leaves our money at grave risks.
Added to this is the introduction of cryptocurrency!
Bitcoin is one form of cryptocurrency to know more about it watch this video below: https://www.youtube.com/watch?v=s4g1XFU8Gto
Even cryptocurrency is not safe from being stolen. CNBC has reported that more than 1.1 billion dollars worth of cryptocurrency has been stolen.
Currently, due to booming growth in e-banking, there have been a lot of disadvantages. Out of 7 billion people on earth, only 3 billion people have access to the internet. And even if people have access to the internet what if their server breaks down during a transaction?
Some banks do offer a phone number for customer service! But we can never guarantee that our transaction will complete smoothly since there is no physical presence of the bank.
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| Source: tech.economictimes |
It is always best when we have a conversation face to face. Another problem in going to digital banking is that if your account gets hacked it is very to difficult to get your money back. When we have a professional relationship with the banker, with every transaction you build a layer of trust.
So if you are financially tight you can always rely on that person!
Private sector banks could take as much as 60 percent of the market share over the next 10 years, Sukumar Rajah from Franklin Templeton. As public sector banks have huge bad loans.
Most private sector banks have opted for digital banking as it reduces employment cost etc. Digital banking calls for a complete change of mindset among bankers, but the clock has already begun ticking for them.
On one side when technology has harmed the banking sector, other spheres such as the education system has been benefited tremendously.
In ancient times India has seen the tradition of Gurukula education. Here pupils would stay in Guru’s house (Teacher) until they completed their education. It’s like a modern day residential school but well you know it would be situated somewhere in a remote area. Now since technology has evolved rapidly Gurkuala has ceased to exist.
In the present day, we have modern teachers who use digital technologies such as projectors and presentation to make classes much more interesting. If a teacher sticks to old tradition no one would refer him/her as ‘cool teacher’. Even the grading system is falling apart as grades do not define your character. A student scoring ‘A+’ in exams would probably not fare so well in real life. In the present day, a student has to have dynamic skills to survive in the ever-changing world. He/she has to be up-to-date with prevailing technologies which have been included in almost all education spheres.
With advances in technology cost of textbooks has reduced drastically since all the materials are found on the internet. I can consider my college itself, Nitte Institute of Communication where all of our reference materials are either found online or in the library. This also increases the portability of information. In the future number of teachers can also be reduced since it would decrease tuition fees.
As technology has advanced, teaching and studying have become more enjoyable. 65% of people in the world learn faster through the visual method of learning. This means instead of memorizing students can actually get to know the topic better. If students understand their chapters well instead of memorizing them, they will apply it in their day to day life.
Lord Baden Powell founder of scouting movement has said that we have to take our own time in doing anything. This is one of his golden rules. Each student is unique and has his/her own strength and weakness. With the development of technology, students can study at the pace they prefer to. This enables them to do better in their life.
Before the introduction of internet i.e the late 80s, the only source of information available to students and teachers was through books or living bodies. Now the internet has connected everything to world wide web and information is just at our fingertips. This allowed teachers to access more resources and teach their students in a better manner. In other words, technology has developed rapidly over past years and has helped the education system evolve a lot. Education sphere has benefited tremendously. If students do not misuse these advantages they will surely be the benefactors.
In the end, it all lies in the hands of the person holding the apparatus, whether he/she wants to make the best out of it.
In ancient times India has seen the tradition of Gurukula education. Here pupils would stay in Guru’s house (Teacher) until they completed their education. It’s like a modern day residential school but well you know it would be situated somewhere in a remote area. Now since technology has evolved rapidly Gurkuala has ceased to exist.
In the present day, we have modern teachers who use digital technologies such as projectors and presentation to make classes much more interesting. If a teacher sticks to old tradition no one would refer him/her as ‘cool teacher’. Even the grading system is falling apart as grades do not define your character. A student scoring ‘A+’ in exams would probably not fare so well in real life. In the present day, a student has to have dynamic skills to survive in the ever-changing world. He/she has to be up-to-date with prevailing technologies which have been included in almost all education spheres.
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| Source: CanStockPhoto.com |
With advances in technology cost of textbooks has reduced drastically since all the materials are found on the internet. I can consider my college itself, Nitte Institute of Communication where all of our reference materials are either found online or in the library. This also increases the portability of information. In the future number of teachers can also be reduced since it would decrease tuition fees.
 |
| Source: Liftarn |
Lord Baden Powell founder of scouting movement has said that we have to take our own time in doing anything. This is one of his golden rules. Each student is unique and has his/her own strength and weakness. With the development of technology, students can study at the pace they prefer to. This enables them to do better in their life.
Before the introduction of internet i.e the late 80s, the only source of information available to students and teachers was through books or living bodies. Now the internet has connected everything to world wide web and information is just at our fingertips. This allowed teachers to access more resources and teach their students in a better manner. In other words, technology has developed rapidly over past years and has helped the education system evolve a lot. Education sphere has benefited tremendously. If students do not misuse these advantages they will surely be the benefactors.
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| Cartoon by Jeff Koterba |
In the end, it all lies in the hands of the person holding the apparatus, whether he/she wants to make the best out of it.
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