Essay Sample: How Technology Contributed to Globalization

Technological globalization has been accelerated by the rapid advancement and spread of technology across the world. For instance, in recent decades, there has been tremendous improvement in the advancement of technology both in developing and developed countries worldwide. According to the World Bank report in 2008, economic growth rate and technological progress are interrelated, and technology has aided in the improvement of living conditions, especially for people who experience poverty (Audretsch et al. 301). Notably, low-tech products, including corn, have benefited from technology innovations; thus, technologies, including mobile banking, can help the population with low-tech market vending. More importantly, technological advancements, such as mobile phones, may cause competition, reduced prices, and great improvements in the corresponding areas like information sharing and mobile banking (Mohanty 48). The paper seeks to discuss how technology has contributed to globalization and the importance of technology in international aspects.

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More imperatively, several forces have accounted for globalization, including multinational organizations like the United Nations (UN) and the European Union (EU), which have supported cooperation among many countries (Audretsch et al. 307). Understandably, social technology has triggered the transfer of information and ideas across the globe. More fundamentally, technology has played a significant role in enhancing globalization as it solves problems associated with the concept. For instance, technology has solved trade barriers through e-commerce which helps in the electronic delivery of services. Also, multinational organizations, including the World Health Organization (WHO), have assisted in the standardization of services and products by applying technological techniques to regulate the world’s healthcare sector (Mohanty 54). Additionally, the delay in information sharing has been solved using social media and the internet.

Understandably, social media and smartphones form the fundamental factors for globalization because they have focused on political, social, and economic globalization. Through the smartphone, people can now access sophisticated technological tools at their disposal, and it eases activities and creates different opportunities (Mohanty 58). Such tools include video calls, geo-location, artificial intelligence, and other mobile applications used in many ways to foster globalization. Notably, social media has focused on providing wealthy opportunities that emphasize economic advancement regarding globalization, which tends to satisfy global demand. Social media platforms like Instagram, Facebook, Twitter, and Whatsapp, provide tremendous and unique services to the people, such as controlling adverts, and media, and enhancing interactions among people.

More precisely, research indicates that more than 60% of the population utilizes smartphones, and about 40% of them are active on social media (Audretsch et al. 311). Thus, technology has linked people from different countries, thereby creating an opportunity for globalization. Additionally, blockchain technology has improved businesses’ operations, specifically financial institutions, such as in the payment system, land registry, education, and healthcare sector (Mohanty 62). Also, software developers have applied ICT technology in establishing a broader range of vital manipulations, including e-commerce that has promoted international trade.

Conclusion

In conclusion, it is worth noting that technology has played a fundamental role in promoting globalization. For example, smartphone and social media platforms have enabled easy information sharing and promote social interaction that revolves around political, social, and economic globalization. The use of e-commerce in global trade has also solved trade barriers; hence, promoting globalization. Also, freelancing has linked international talents to global opportunities; thus, fostering globalization.

Works Cited

Audretsch, David B., Erik E. Lehmann, and Mike Wright. "Technology transfer in a global economy." The Journal of Technology Transfer 39.3 (2014): 301-312.

Mohanty, Sandeep Kumar. "Globalization, Innovation, and Marketing Philosophy: A Critical Assessment of Role of Technology in Defining New Dimensions." Business Analytics and Cyber Security Management in Organizations. IGI Global, 2017. 48-63.