What Is the Role of Technology in Globalization?
Technology has not only played a role in ushering in the age of globalization, it has been the main catalyst for its advancement. Major breakthroughs in information technology, communication, and transportation have been the driving forces behind the early 21st century global market boom.
Perhaps the most significant advancement in globalization has been the Internet and information systems. Massive amounts of information and data are available via the World Wide Web, and there is rarely a question that cannot be answered with a search engine.
Although the Internet has granted people all over the world the ability to share information with each other, it has been a surge in telecommunications technology that has facilitated the global exchange of data. Before advancements like email, cellular technology, instant text messaging, and broadband communication, businesses were limited to telephone calls and postal services for their communication needs. Fax machines were a major advancement years earlier, but they were limited in their usefulness. The first decades of the 21st century opened the doors to instant communication to anywhere in the world. The world’s banking systems have also benefited from the ability to instantly transfer funds, simplifying long-distance transactions.
Most global businesses use technology that has been available for many years, such as planes and ships. However, innovative navigation advancements, such as global positioning systems, have increased efficiency and made travel safer. Additionally, cargo ships have grown in size and sturdiness over time, and many can now carry huge amounts of cargo overseas.