Technology has been the 21 Century ‘great connector’ for people and business across the world. We are all increasingly connected to every device and every place, giving access and a voice to every individual to be heard around the world.
The puzzle lies in the dichotomy of the technology role in connecting and dividing. The world is increasingly divided into areas where technology is connecting and enhancing the life experience of individuals and businesses, and working against traditional career and business opportunities around the world, creating a new generation of haves and have-nots.
From people perspective, literally everyone can connect to anyone globally and a community of global citizenship has placed the world at our fingertips. Technology has not only connected us, but also enabled the use of financial services, social connections, professional networking and purchasing opportunities worldwide.
From a business perspective, geographical boundaries disappeared leading to global opportunities regardless of the size of the market. In a typical pyramid model, with the entry level workforce being the largest base supporting business enterprises, technology has enabled business services eliminate entry level jobs, consolidated mid-level positions and demand increasingly higher level of education to qualify for jobs and maintain career growth in order to stay competitive.
Relentless penetration of niche markets by large businesses enabled by technology is resulting in a shorter life span for small and medium scale businesses. This is requiring small businesses to grow market share or close shop due to the fading profit models in traditional brick and mortar models.
Dichotomy in the economy continues to be more evident with an increasingly small percentage of the population having a disproportionately higher level of incomes, while growth of middle class families has not only stalled but is demonstrating a very evident decrease in earning capabilities. Lack of wage growth can be attributed to factors such as pressure on profit margins in traditional brick & mortar industries and businesses.
End result: Earning power gap has been widening over the past two decades. Normal upward trajectory of earnings for low and middle income families hit a wall of stagnation. This connected world is now resonating this discontent and negativism at the local, regional, national and global level triggering events that continue to spiral perception negatively.
It is time to make technology work for the people. It is time for an intelligent design that promotes a building block model of economic self reliance for individuals and institutions to succeed locally, regionally, nationally and globally.