The Evolution of Technology and its Impact on Business

in #hive-14844116 hours ago

The world evolves on a daily basis, and one of the notable ones was when the world went digital, which ended up being a great innovation and improvement regarding how we do things and the likes. This innovation, although good, has taken a huge toll on different businesses that couldn't evolve with the trend and demand digitalization revolves around, and today in this article I'll be talking about some of those businesses that couldn't evolve with digitalization.

One of the most popular and well-known businesses that went down the drain as digitalization crept into all aspects of life is one of the leading mobile phone manufacturers, Nokia. Nokia happens to be widely known, accepted, and used around the world, especially here in Nigeria, but with the evolution of mobile phones away from the old contemporary button to digital on-screen keyboards and Nokia's unwillingness to delve into it, this led to their business declining.

With time, they gradually went down the pecking order of choice of phone on demand, and at the end of the day, they are no longer a household name, paving room for phone manufacturers who adopted the digital trend, and presently, while Nokia is nowhere to be found, smartphone manufacturers such as Redmi, Samsung, and the likes took over the smartphone manufacturer industry.

These new companies are making breathtaking smartphones with top-notch features that kept users glued to their brand and Coming for more due to the new specifications and features added to the new ones made, these can be attested to with how companies like Redmi, Tecno, Infinix, Samsung, and others are making improvements on their products on a daily basis.

Another of such notable businesses that went down the drain because of digital evolution is related to the film production industry in Nigeria. Back then, when I was young, watching movies and playing music revolved around cassettes, and then we had CDs and DVDs. These used to be a household thing, including because that's how we watched movies and listened to music, so with digital innovation came virtual platforms for watching movies and listening to music.

And with both being published online, this led to cassettes, CDs, and DVDs losing their standing in the production industry, and companies that are ready to evolve with the new demand of the digital innovation, companies like Prime TV, Netflix, YouTube, Spotify, Apple Music, and the like, took over the industry and met the demand of the present generation as they're ready to evolve with the technology improvements and innovation that comes with digitalization.

I'm a big fan of digitalization and looking forward to the new evolution that will follow in this regard. Take, for instance, in recent science fiction movies, we've seen screens pop up out of watches and other devices like a projector, and yet they're able to interact with the floating screen. I'm looking forward to that and other technologies that are in store. Being someone in the field of science myself, as a computer scientist, I see these as a good improvement in the right direction.


All photos are mine.


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With time, evolve is necessary, otherwise lose the momentum is expected. Nokia brand is the best example of it. In that time if Nokia didn't resist to change Samsung, Redmi type brand might not get the opportunity to shine like now.