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Information Technology and Communication (ITC) is the world’s fasted growing and in-demand industry. It is so rapidly expanding and changing that it is believed that a University or College degree in IT is no longer a prerequisite qualification. This does not mean one should not enter into an IT-related field. IT makes room for a myriad of career paths. From Web Development to Software Engineering. Software in itself creates many opportunities due to the different coding languages out there. Below is a compact list of different study fields in IT:

Software Engineering

Multimedia

Artificial Intelligence

Networking

Information Systems

Computational Methods

Cyber Security

Forensics

Penetration testing

Information security/assurance

Help desk/tech support

Database administrator

Programmer

System administrator

Network engineer

Project manager

Auditor

Consultant

IT is taking over the world and we will see more and more students entering this domain.

What will this mean for business? How will society react? How will humankind’s behaviors change? Which industries will be the hardest hit?

The first four areas that come to mind, are not only industries but also expanses in how everyday things are perceived. Areas in Medicine and Healthcare; Banking; Retail; Human Interaction.

Let’s look at this a little closer.

In Medicine and Healthcare, IoT is already responsible for major success, which was thought to be impossible to achieve in as little as 20 years ago. According to a popular medical website, Robot-assisted procedures accounted for 15.1% of all general surgeries in 2018. 

The Banking sector will be the next industry that will be affected. Soon, physically visiting a Bank will no longer be necessary. According to a leading money website, it is predicted that because “Online banks don’t have physical locations you can visit, you’ll do all of your banking via the web, or a mobile app. … They don’t always have the expenses that traditional banks do — no buildings and so on — so they can pass a little more of the savings on to the customer.”.

Retail Shopping will soon be a thing of the past. Malls will run empty and more shops will use the online route. It’s more cost-effective and less time-consuming. Here are some surprising statistics according to savemycent.com:

  • 47% of online shoppers buy financial services on the internet.
  • According to predictions, retail chains ended 2020 with a collective 76.8% growth in e-commerce.
  • The total market share for online sales will rise to 18.1% in 2021.
  • Experts expect online sales projections to hit $145.8 billion by 2023.
  • 69% of Americans have purchased something online. 
  • 55% of 2020 Black Friday purchases came from mobile devices.
  • 60% of shoppers said they preferred online over physical stores during the holiday season in 2020

Lastly, on a slightly more negative note, we will see less interaction in the family and elsewhere. Millennials are spending less and less time with their parents. A lack of parenting in itself poses a social risk as well. Teenagers are more hung up on social media than what is happening in their surrounding physical world. The virtuality of how things should be from photos posted on Facebook and other social media platforms creates a false perception amongst teenagers and may result in developing Psychological Behavioural Disorders, Depression, and in some cases even suicide. A recent study also found that there was a vast increase in divorces since the inception of social media. Married couples no longer remain together for years on end. Nowadays, thanks to the internet and social media, it is too easy to flip your loving partner for a fresh face online. 

In conclusion, there are many good things when it comes to IT, IoT, and the internet, however, to preserve our human interaction we need to find the balance in disciplining ourselves and how we behave towards this digital change.

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