The Global Technological Crisis

With the Global Financial Crisis ravaging the globe, its far reaching consequences are yet to be understood. One corollary to the crisis is what could be nick named the Global Technological Crisis. Some people blame the speed of rapidly disseminating information to various audiences as a contributing factor to the uncertainty of the current financial crisis, though this is not the technological crisis I speak of. With the average consumer facing reducing levels of disposable income, tech companies are facing a challenge the weary customers.

One innovation we have seen is the popular netbook. Launched initially by Asus, every computer manufacturer has their version of the netbook available. These stripped down versions of laptops are not only cheaper but smaller in size, lack optical drivers and are much easier on the pocket of the consumer who just needs a solution to simple mobile computing. Some may see this as adopting to the consumers needs, but in terms of the human race growing technologically, could this be a step backwards, though a minute one at that? The BBC video below portrays some of the plus and minus points of the netbook, for those interested.



On the bread earning front, it is said that the financial sector accounts for 18% of the financial sectors IT spending. With this sector being the worst hit and spends coming under the microscope, the IT giants who make their bread and butter from the financial sector are likely to be hard hit and find new segments to cater to. A Business Week article I came across provides a few facts and figures worth considering.

Even robotics has been hard hit with Japanese factories reducing their robotic work force due to lack of demand for products. With robotics integrated in manufacturing Japan, it takes less and less people to assemble things. Even the massive manpower of China can not match the effectiveness of these robots who work tirelessly and don’t grumble of overtime. In fact in Japan at the Yaskawa Electric factory on the southern Japanese island of Kyushu robots are used to manufacture even more robots. Yet the global slowdown means there is less demand for robots, which if it continues could lead to less advancement in the field of robotics. So those dreaming of an I-Robot like future, will have to wait a while.

On the flip side of the coin, products that offer more value for money are growing more popular. The X-Box 360 console is said to be the most popular console in Australia this year. Perhaps this is because of its cheaper price point than the PS3, yet another indicator of how price conscious the public has become.