Some Industries Being Affected By Technology

in Threespeak3 years ago (edited)

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I am a firm believer that if you are not looking at the technological component when it comes to investing, career, business, and retirement, you are missing a big piece of the puzzle.

This is happening at an accelerating pace. This means that many of these will hit the "retail apocalypse" moment within the next decade.

In this video I discuss a number of industries that are starting to see a change due to technology. There are a number of technologies, some that affect a number of industries, to pay attention to.


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And everybody was upset that assembly line technology would end up employing only unskilled labor.

Before that you had to know how to assemble the entire vehicle.

And with the need for greater precision and of course technology advancing of course we are going to have to rely on technology in manufacturing processes.

I am definitely going to say 3D printing is the future especially with 3D printing metals

Definitely 3D printing looks big going forward.

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Actually some pretty amazing advancements that you can't do with forging or machining.

I think the biggest one is being able to 3D print with multiple metals.

Imagine a gear that can be soft mild steel too take the impact and have hard steel on the wear areas.

Very cool design possibilities

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Actually this opens up so many new possibilities because you can print parts inside areas that cannot be accessed increasing reliability and performance.

Let alone being able to integrate multiple different kinds of metals together.

Printers that can print multiple materials, not just metals, are true game changers. Then we will see innovation like we never saw before. The possibilities are near endless at that point.

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Well that's the thing now we can print non-ferrous metals along with high carbon steel and as well mild steels

Add in plastic silicone and other materials like polymers with glass fibers or carbon fibers...

Absolutely we are looking at a new frontier in engineering.

This 🙄

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Indeed, I print with PLA currently :)

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That housing market is prime for destruction with 3D printing. A ton of those people buying right now are doing so under interest rates are as low as they can be. When 3D printing takes off and reduce the cost of building a house by 1/3rd or 1/4th, I wonder if the houses will still be worth as much. It might not crash as fast if they keep prices up by enacting laws and using lawsuits like usual though.

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Very interesting thought. The competition should reduce prices with resultant fall out

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When technology enters and something gets commoditized, it is hard for companies to hold their margins. The ones that attempt this, which are usually the incumbents, tend to lose market share. If they are quick, they can adapt and lower margins while retaining their position. Most are too slow and only realize after it is too late that someone else took the share of their business away.

Either way, it helps the consumer.

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Yet another good reason to read the comments, differing and unique ideas!

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Yea I like to read the comments as well for the different views and ideas. But I tend not to comment on comments as much unless I don't understand something or they are asking a question.

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I think the answer to that depends upon the area.

Those that are heavily populated might see some issues. Of course, it will be more than one factor involved. If the work from home idea keeps expanding, which I think it will, then the need to assemble in a rather small geographic area (city) is lessened. This could mean that rural areas see a lot of migration.

Couple that with less expensive home construction, and yeah I think there is an issue for those who are owning homes with debt tied to them.

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Technology is definitely in charge of the future. We need to learn about it to stay relevant.

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nice to some famous crypto influencers in the comment sections of Leo Finance :)

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My view is we have to view it all through the technology lens since it is eating up more of our economy.

If not, we will looking how things in a skewed manner.

A lot of what we "know" is going to be completely worthless in a decade.

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I agree. If an investor looks at Bitcoin merely as a new asset class he/she recognizes the title but misses the story, along with the Moral. Technology is more then just new vocabulary, it is a catalyst for change.

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Technology is more then just new vocabulary, it is a catalyst for change.

It always was. The only question is the pace if said change. In the past, it was rather slow. This does not seem to be the point anymore.

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I'm curious what technology will disrupt the network effect :P

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Summary:
Task discusses the impact of technology, specifically focusing on cryptocurrency, blockchain, and other emerging technologies, on various industries. He emphasizes how advancements in technology are reshaping industries like banking, entertainment, education, medicine, construction, manufacturing, energy, and food production. Task explains how these changes will affect careers, investing, and livelihoods, underlining the importance of viewing these factors through a technological lens to stay relevant in today's rapidly evolving world.

Detailed Article:
Task dives into the topic of technology and its profound impact on various industries, particularly emphasizing the transformative effects of cryptocurrency and blockchain. He highlights how technology is reshaping industries like banking and financial services, stating that traditional institutions will need to adapt to the changes brought about by digital wallets and blockchain technology to stay relevant.

Moving on to the entertainment industry, Task discusses the evolution from traditional media formats like DVDs and broadcast television to the rise of streaming services. He predicts that virtual reality could reshape the entertainment landscape, potentially posing a threat to traditional movie production houses.

In the realm of education, Task points out the potential disruptions that advanced technology, such as Microsoft HoloLens, could bring to traditional classroom settings. He envisions holographic education tools replacing the need for physical presence in educational settings, thereby revolutionizing the learning experience.

Task then delves into the medical sector, highlighting how data-driven systems and advancements in technology will lead to significant transformations in healthcare, particularly in early disease detection and personalized medicine.

Moreover, Task explores the construction industry's evolution, where 3D printing is revolutionizing the way buildings and homes are constructed. He explains how additive manufacturing could lead to a more localized and efficient production process, reducing costs and streamlining supply chains.

In the manufacturing sector, Task underscores the shift towards digital design and local production, emphasizing the potential of 3D printing to revolutionize traditional manufacturing processes and supply chains.

Additionally, Task touches upon the energy sector's advancements, particularly in renewable energy sources like solar power and battery technology. He discusses the challenges and opportunities associated with transitioning towards cleaner and more sustainable energy sources.

Lastly, Task addresses the food production industry, expressing concerns about food distribution challenges and the need for localized production to reduce transportation costs and enhance food quality and freshness. He mentions the ongoing developments in lab-grown meats as a potential solution to address food sustainability and animal welfare issues.

Task concludes by stressing the importance of understanding and adapting to technological advancements to navigate the changing landscape of industries, careers, and financial stability. He urges viewers to consider the long-term implications of technological disruptions on their lives and livelihoods, emphasizing the need for a proactive approach to stay relevant in a rapidly evolving technological age.

We should be realistic in that 40-50 year old truck drivers and coal miners won't become computer programmers or technologically literate on this scale.

Presuming we need computer programmers in the future. There is a good chance that self generating (creating) AI handles the programming for us.

I am in the same camp of believing this time is truly different. There is still a school of thought that says "we always created more jobs with technology than we destroyed". This is used to make the Luddites look foolish. See there were more jobs created. The problem is things did not end well for the Luddites. They were right, they were put out of jobs.

The pace of things and the power of the technologies we are dealing with is what is massively changing things.

A decade is a long time in the tech world.

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