When you think of the term “technological advancement”, you probably think of things that are not really beneficial to society as a whole. However, technological advancements have greatly shaped history over the years and continue to do so. Many people don’t realize how much these advancements help the economy in positive ways. Let’s take a look at how technological advancements can help the economy.
Help Create Jobs
The first way that technological advancements help the economy is by creating jobs. Technological advancements create new industries. New industries need workers to produce their goods and services. When businesses are looking for people to fill open positions, they look for people who have the right skills. This can include skills related to the new industries that have been created.
Make Existing Jobs Safer
When technology is used correctly in the workplace, it can reduce the number of occupational injuries and illnesses.
Industries such as construction, mining, and agriculture are high-risk industries that can be made safer with certain types of technology. Safe working conditions can help create jobs by decreasing the likelihood that people will quit their jobs. This is because people who feel safe and secure at work are less likely to leave their jobs.