4 Traditional Industries Changed by Technology

Many traditional industries are grabbing hold of the fast-moving pace of technology and using it to their advantage. Technological innovations are transforming long-established industries, allowing them to think outside the box and do things differently.

Most, if not all, main industries in the world today are influenced by technology. Here are examples of four of them and how technology is changing them for the better.

Medicine

Advances in medical technology (MedTech) are changing the face of healthcare. Medical devices and surgical equipment have come a long way in improving the health and recovery time of patients. Innovations in genetic testing and medical imaging have greatly improved detection, diagnosis, and treatment of disease.

3D printing capabilities are fast becoming more commonplace and changing lives. Manufacturing medical equipment and prosthetic parts are now a reality with 3D printers. Organisations like e-Nable are reaching out to the 3D printing community to print and donate prosthetic hands to those who need one. Extensive research is currently being done on bioprinting human tissue, with the possibility of creating entire organs – which would eliminate the need for donor organ transplantation.

Even the devices we wear can help our health. Fitness trackers like Fitbit and other mobile apps monitor our activity levels to help us reach our fitness goals. Google has developed a smart contact lens that measures glucose levels in a person’s tears – a valuable technology for those who suffer from diabetes.

A background in medicine or biomedical engineering would certainly be useful, and necessary, for certain jobs in MedTech. But there’s also opportunity for those without a science degree in project management or business development. If you love data, then consider the area of healthcare information technology.

Fashion

The fashion industry is also getting a charge out of technology. Apps like Craves allow you to upload photos of clothing items you love, then shows you where to buy visually similar items in a matter of seconds. Virtual fitting rooms, such as Fits.me, allow customers to better visualise how items might fit them and provides the retailers with information on buyers’ preferences to help with personalization.

There are also fun, but not necessarily practical, innovations like The Twitter Dress. Designed by CuteCircuit, it uses a fabric with 10,000 MicroLEDs that becomes animated from tweets received in real-time using #tweetthedress.

If you have a passion for fashion, now’s a great time to dive into this field as fashion brands are looking at ways to use innovative retail and e-commerce technologies to reach more customers.

Finance

The financial industry is becoming more streamlined and efficient due to technology. Online banking has become the norm (when’s the last time you actually walked into a bank?) and payment transactions with one click on your mobile phone are now routine.

According to a recent report by Accenture, global investment in FinTech (Financial Technology) is expected to more than double by 2018 to $6-8 billion. The financial services industry is clearly focused on innovation and shifting towards digital products and services  – looking to mobile, analytics, cloud, and security technologies to transform their business and improve customer experience.

Peer-to-peer (P2P) lending is on the rise. Startups and other companies who’ve been turned down by banks for a loan are now turning towards P2P lending services, such as Zopa, to get the financing they need. Individuals can finance their creative projects through crowdfunding sites like Kickstarter and Indiegogo.

Other areas in FinTech include digital currency (Bitcoin) and personal finance management systems like Mint.

A career in FinTech is an exciting one because it’s changing the way we see and use money. Employers in this field are looking for people with a variety of backgrounds – from finance and accounting to marketing and analytics. Combining these with technology skills is a great way to get your foot in the door in this growing industry.

Education

Education technology (EdTech) involves the development and application of tools to facilitate learning. Education is an industry that is being transformed by technology – no longer is it necessary to sit in a classroom to learn. With the myriad of massive open online courses (MOOC) out there – from sites such as Udemy and Khan Academy – anyone can learn just about anything anywhere.

EdTech isn’t just about online learning for students – it’s about tools that educators in the classroom can use to help with lesson planning, data collection, and teacher-student communications. Learning Management Systems, such as Schoology and Blackboard, help instructors track student courses and workload, performance, and stay connected to their students and other faculty members through in-platform messaging across all devices.

Education is in the middle of a revolution. And the need for tech professionals is growing as the need for development of tools to deliver information increases.

At Code Institute, we teach you the skills needed in this ever-changing environment of innovation. Technology is transforming how traditional industries behave and affect people’s lives. By gaining valuable skills in web development, a world of opportunity will open up – and allow you to combine these skills with your background and interests in other fields.

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