A lot of countries are looking for strategies to boost growth and create new jobs in an era of low growth and volatile. Information and communication technology (ICT) is among the fastest-growing industries, directly generates thousands of jobs and is an essential enabler of development and innovation, is also among the most significant.
This century is going to be Information Technology driven. India is regarded as a world-class knowledge center and is the center of international attention. IT solutions, technology-enabled Services (ITES), managed IT support in San Antonio, eCommerce (online business), and hardware and software products are all a part of the IT business.
Any business requires IT-based solutions to boost efficiency, productivity, and growth of the economy in today’s highly competitive marketplace. It has also helped make networking in San Antonio possible. Information Technology has not just helped in the economic growth of the country, but it has also made government easier and more accessible.
Technology has made it much easier to access information and services from the government. Technology makes it simpler to administer and provide public services, including health, education and consumer rights as well as other services.
Transparency is one of the main benefits. Our economy will expand exponentially if the IT industry can generate millions of new jobs. We’ll be able to be competitive with China in every sector in addition to gaining access to global markets through our growing IT services industry.
With 40 percent of the population online, the total number of mobile users (6.8 billion) is near the global population estimates. The competitiveness of nations in the new world depends on their ability to make use of new technologies. These are the top five commonly observed economic benefits of ICT.
1. Direct Job Creation
It is believed that the ICT sector is among the largest employers, and will continue to remain so. Information technology and computer jobs within the USA are expected to rise by 22% in the period 2010-2020 which will create 758,800 jobs.
Australia will develop and oversee the ultra-fast National Broadband Network, which will create 25,000 jobs every year. The rate of growth across different industries isn’t uniform. Five jobs are added each year in the US for every single job in high-tech. The tech market in the world is predicted to expand by 8 percent in 2013, resulting in new jobs, raising wages, and providing an increased variety of goods and services.
2. Contribution To GDP Growth
Many countries have discovered proof of the positive effect ICT can have on growth. An increase of 10% in broadband penetration could be linked to the growth of 1.4 percent in GDP growth in emerging market economies.
The number could rise to 2.5 percent in China. Globally it is estimated that the per-capita GDP rate of growth has risen by 0.5 percent due to the exponential growth in mobile data usage resulting from 3G connectivity.
In certain countries, the Internet is a major contributor of 3.4 percent of the global GDP. The most significant driver is e-commerce. because of this. This is when people sell or advertise their products on the internet.
3. New Services And Industries Emerge
Numerous public services are accessible online and via mobile phones. Modernization is a major trend. Cloud computing is one its most important attributes.
The Moldovan government Moldova was among the first governments in Eastern Europe and Central Asia to move their IT systems to cloud computing. The government also launched services for mobile devices and online access for both businesses and residents.
The app industry is a brand new industry that ICT has enabled to develop. According to studies, Facebook apps have created more than 182,000 jobs, and the amount of value that the apps bring to industry exceeds $12 billion.
4. Transformation Of The Workforce
Companies such as Samasource, Amazon, and oDesk have come up with innovative “microwork” platforms that allow tasks to be divided into smaller pieces that can be easily contracted out to contractors. Contractors typically work in countries with emerging economies.
Microwork platforms help entrepreneurs significantly reduce costs and access skilled workers. The year 2012 was the most successful for more than three million registered contractors and executed 1.5 million jobs. This trend has ripple effects across other sectors, including online payment systems, as well as legal services.
The growth of entrepreneurship has been helped by ICT which allows entrepreneurs to locate the best practices as well as the latest information on legal, regulatory and other aspects of business as well as marketing tools.
5. Business Innovation
Over 95% of businesses across OECD states have an Internet presence. There are new opportunities for businesses to communicate with their customers and gain market share via the Internet. Social media has evolved into an effective marketing tool in the past few years.
Businesses can utilize ICT tools to boost their efficiency as well as streamline business processes. Businesses can now provide new products and services to their customers due to the rapid growth in connected devices across the world.
6. E-Commerce
Electronic commerce has led to remarkable economic shifts in the last 10 years. Amazon along with other major merchants dominates the market.
Entrepreneurs have made use of technology to revolutionize the way we conduct business and the ways we do it. Businesses can now make use of Amazon’s platform to conduct transactions.
The internet has allowed electronic commerce, also known as e-commerce, to bring about numerous changes and build an entirely new economy along with IT support in San Antonio E-commerce lets you buy and sell items online.
