Evaluate the impact of recent technological developments

on the future of the global economy

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Module Title: Academic language
Module Code: LD7174
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Table of Contents
Essay..........................................................................................................................................3
References..................................................................................................................................5
Essay

The use of technology has boosted the growth of businesses on global platforms. The

economy at global levels has significant impact on its progress due to the use of effective

technological features in the companies these days. The companies can use robots as

companions for their growth and development as robots can help the companies in

performing the assigned work effectively, at lower cost and within the given time period.

The use of robots for fulfilling the work which humans used to do is a positive thing for the

company’s growth however it is a negative thing for the workers because they fear for

loosing their job. The company therefore focuses on using effective technologies for

managing their economic, social and marketing work.

Through the help of technological features, the companies can showcase their products and

services through using online platforms such as social media which enables the companies

to get in regular contact with their customers. The companies such as Google and Facebook

have monopoly due to which its users are attracted to it and uses these platforms for their

own benefit (Ghauri, et al., 2021). Moreover, people are creating different applications

which the companies can utilise to increase their profit margins in the future.

The billionaires such as Bezos saw their fortune to increase by $36 billion between January

and September 2020 (Ghauri, et al., 2021). People and companies perceive that through

using effective technological features it can help in enhancing the profitability of global

economy. Digitalisation can further provide lucrative profits at minimal cost for expansion

therefore it further has the ability to enhance the fortune for global economies in the

market. Businesses may now use AI to display their goods and services on billboards with
the use of modern technology, which helps the companies draw in more clients. Since of

technology improvements, businesses have a bright future because they may raise profits

and improve the perception of their brands by efficiently utilising technical characteristics.

These businesses have effectively and efficiently maintained their brand value in the market

with the aid of AI characteristics. Therefore, it can be said that technical developments have

a significant influence on the expansion of businesses.

References

Ghauri. P., Strange. R., & Cooke. l. F., (2021). International Business Review. In Elsevier (Ed).

Research on international business: The new realities, 30- 2, Pp 101794.