THE IMPACT OF ICT ON

RETAIL, BANKING AND

PERSONAL FINANCE,
TRANSPORTATION
INDUSTRIES, EDUCATION,
LAW ENFORCEMENT,
MEDICINE.

JUNE 14

INTE 11213 – Fundamental of computing

IM-2018/018
Thushan Dodanwela

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CONTENT

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1. Impact on Retail
2. Impact on Banking and Personal Finance
3. Transportation and Industry
4. Education
5. Law enforcement
6. Medicine
7. Conclusion and References

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Impact on Retail

Retailing may be a vital business activity,

providing customers with a chance to get goods
and services from various sorts of merchants.
Today, retail is a complex and diverse field. It
involves the selling of all types of physical
goods, such as automobile parts,
pharmaceuticals, clothing, health care products,
books, and food, as well as services, such as
automobile repair or rug cleaning. With the
increasing usage of retailing, both in terms of their
points-of-sale and their points-of-supply; the knowledge technology (IT) spend within
the retail sector has increased significantly.
IT plays an increasingly important role
within the management of complex retail
operations. Market knowledge, also as
control of knowledge and knowledge, is

vital to obtaining a competitive advantage

within the retail sector.

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1) AMAZON:
Amazon has become one
of the biggest retail
industries by making
online shopping fast and
convenient, with the high
usage of modern technology as well as ICT. It escorts in a new era of IT, by
developing cloud computing in 2006. Now the Amazon company is by far
the most dominant industry that controls a fundamental part of the world's
retail infrastructure.

2) eBay:
eBay Institution, launched in 1995, is one of the most successful
and popular online retail company in 2020. eBay is popular for
providing marketplaces for buyers as well as for sellers to list, bid,
buy product and services. eBay’s mission is to “create the global
online marketplace”.

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Impact on Banking & Personal Finance

With the development of Information &

Communication Technologies (ICTs) the
possibility of improvement in efficiency and
effectiveness of financial management looks
more effective than the traditional manual
system. ICT impact greatly to support the
internet dissemination of banking service.
With the help of the ICT we could have
enabled the atmosphere that integrates all
financial transactions with the help of accounting
software to generate financial reports.
In the last few years, there has been a tremendous development in the field of ICT and
its application in the financial world. This is because the ICT is employed in all
departments of financial organizations such as Management, Marketing,
administration, Accounting and Financial Management.
Information & Communication technology allows finance to function on a global level.
Financial markets can be thought of as the first organized, global banking systems are
operating through network computers. For an example in Sri Lanka all the branches
which are located in different locations are connect to the main branch and people have
the opportunity to deposit or withdraw their money from anywhere. People are having
this opportunity thanks to the ICT.
Without information technology, financial markets could not react to global
development and finance companies couldn’t consistently acquire information at the
same time as their competitors.

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Information & Communication services have become available in e-banking services,
providing online banking services, online banking systems. These banks are centrally
operated, provide suitable governance, and understand the value of the learning process.
The e-operations often involve
technological advances, such as
reducing transaction costs, expanding
access to target customers, more
efficient systems and technologies to
enhance customer information
collection.

Impact on Transportation & Industry

Over the last few years, high expectations have been expressed regarding the potential
benefits that the high usage of information and communication technologies (ICT) could
have for the growth for transport.
ICT can be used in transport in order to optimize and improve transport operations.
Technology has impacted the modern transportation. Transportation has become more
faster during past few years with the help of new inventions. In the past, we travelled
days and days to reach a far destination and people cannot travel as fast as today
because of not having enough technology.
Here are some of the most important and technological changes that can be seen during
these days:
1) Technology made travelling less time-consuming and more environmentally
friendly
2) Technology changed the way we book a flight, a train reservation, a room and
access hotel services.
3) Electronic Payments made travelling safer and easier
4) Technology allowed us to have more personalized and unique experiences.

TRANSPORTATOIN APPLICATIONS:

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 With the rapid development of ICT,
transportation field become more
user friendly. Following are some
application which were developed
with the help of the information and
communication technology.
 Intelligent vehicles
 Vehicle and Highway Automation
 Collision Warning and Avoidance System

Impact on Education
Information & Communication Technology has become an important role in every
aspect of modern life. Information and Communication Technology increases learning
opportunity and motivation of the student. ICT can also help the students in acquiring
essential learning skills. The use of ICT in the learning environment has been developed
rapidly and its applications are doing a compulsive job to the education today and into
the future.
ICT based educational system has filled with enormous advantages in the education
sector. Most importantly, with the development of the ICT, it has been able to eradicates
the barriers of time and place in the learning situation. The selection of Information and
Communication Technology in education is due to its high storage capacity, speed,
user-friendliness, accuracy, integrity, high reliability, consistency, versatility and it has
the special characteristic of interactivity which gives the control to the students.
with these new technologies it is the students who decide when, where and how much
content of the subject to receive at a time. The student takes their own time for learning
subjects depending upon their knowledge and capabilities.
ICT can give both advantages as well as disadvantages to education. But we have to
understand that it is on our hand whether to use it wisely or not. Technologies such as
Internet, TV, radio and others provide the knowledge, news and information to us. We
can increase our vision by referring them. But, when we are too addicted on these
things, so many health problems may occur. So, it is our
duty to use it wisely and get full advantages from ICT

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Impact on Law Enforcement

Information & Communication Technology has large impacts, in both positive and
negative ways, on law enforcement. The use of ICT in law enforcement has been a great
idea. Police officers can use the technology to store information, analyze particular
objects found at crime scenes, and help in collecting information about criminals as well
as victims. Not only that but also now investigators are using Fingerprint sensors to
identify the criminal. ICT can also use to set up surveillance of telephones, cars, street
intersections.

Just like other fields, there are some disadvantages as well. The output of any machine
is depending on the inputs we are providing to that machine. So, we have to be very
sensitive in the field like law enforcement because it will affect many innocent people if
we input wrong data.

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On the other hand, there are many hackers trying to steal confidential information and
this leads to cybercrimes. So, it is clear that thee are many advantages as well as some
disadvantages as well.

Impact on Medicine
ICT has a major impact on
medicine and health care. The
most important are accessible to
health care services by citizens,
economical aspect and quality of
care aspect. The main goal is to provide access for the citizen at any time and in ant
place. E-health can certainly provide such an access especially in the regions where
physicians may not be available. Technology has totally changed the way of handling
day to day health care situations. ICT brings many advantages to medicine as following:
 Cost-Effectiveness
 Time Effectiveness

 Improved Machines
Eg: ECG, EEG,

E health can cope with the deficit of medical staff in developing and the developed
countries with the help of ICT. The term eHealth refers to the use of modern ICT to
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meet needs of citizens, patients, healthcare professionals and healthcare providers. The
main goal is to provide access to the health services for the citizen at any time and any
place and especially for the patients
from rural areas and small towns.

Conclusion & References

As we discussed above Information & Communication technology has changed the way
of the world dramatically. But there will forever be a question of “Has technology
changes us for the better or for the worse?” Just like a coin, everything has two sides.
Some people may say that technology has helped us so much while others may say that
people of this new society don’t know what it is like without all of these luxuries.
Concludes that under certain conditions, information and communication technologies
can significantly enhance people’s human and social capabilities and have a positive
impact on their well-being. ICTs can enhance. However, ICT will remain helpful only if
people use them for specific purposes. So, it is our duty to maximize the opportunity
while minimizing the threats.

REFERENCES:
The Importance of Information Technology in the Retail Sector [ONLINE]: www.nirico.com
www.youtube.com
https://elibrary.worldbank.org/
https://www.ericsson.com/
https://www.referenceforbusiness.com/
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