Technology in an uncertain world

Information technology becomes important in our lives because it helps to deal with every day's dynamic things. Technology offers various tools to boost development and to exchange information. Both these things are the objective of IT to make tasks easier and to solve many problems. The changes that technology has brought in our lives are saving time, enabling instant communication and interaction, a better quality of life, easy access to information, and ensuring safety.

The world is going through a period of almost unprecedented uncertainty, with war returning to Europe, disruptions to global supply chains, shortages of talent across industries, and inflation reaching staggering levels around the world.

The impact of all of this on one area hasn’t received much attention, and that is the technology sector. Technology is human knowledge which involves tools, materials and systems. The application of technology results in arti-facts or products.

Ukraine’s estimated 240,000+ tech workers have been impacted severely. This has added to the Great Resignation, with millions of workers choosing to leave employment. All in all, the global shortage of tech talent has become more and more pronounced. And with uncertainty in almost every domain, the business environment for the tech sector is under pressure too.

At the same time, the ability of technology to help lessen the impact of global disruptions has also shone through in recent months. Business continuity plans have enabled businesses to continue to operate, overcoming the continuing Covid pandemic.

We’ve all read about Elon Musk’s Starlink satellite internet services serving as a lifeline in Ukraine. And to look at the Great Resignation in a positive light, technology has given millions of young people the confidence to chart unconventional career paths.

Actually, it's not technology that is changing so quickly, but rather the way we use it that is transforming our relationship with work. Technology is changing faster than ever. We tell ourselves that the pace of change is breath-taking, forcing us to adapt to shifting conditions more quickly than we've ever had to before. These are interesting times in tech, and the pace of change is frantic.

Dr. Deepak Kumar Sahu, President & CEO, VARINDIA