Which industries have benefited most from the technological boom?

Technology has been a real game-changer in all sorts of ways. From the way in which it has given people the chance to enjoy more choice when it comes to getting around town or the way it aggregates so much information in the form of price comparison sites; all kinds of sectors have changed. This article will explore just what the exact consequences of the shift to digital has been.

Price comparison sites

One of the main victors of the internet revolution has, of course, been the numerous price comparison sites which have emerged in recent years. Take the example of property: buying, selling and renting properties has long been considered a difficult task. Tiny adverts in estate agents’ windows or in newspaper columns meant that buyers were less well-informed, and that agents had to go to greater lengths to get property details communicated. But the ease with which visual media and information can be shared on the internet means that sites like Rightmove and Zoopla have emerged victorious. The same goes for price comparison sites in sectors like energy, telecoms and more.

Stock trading

The stereotypical image of a stockbroker is of a person in a suit and bowler hat – or, perhaps more recently, the so-called “barrow boys” of the City of London. They were younger men from Essex and similar areas who spotted an opportunity to make a lot of cash through share dealing. In the modern age, however, those who trade stocks and shares on a day to day basis are more diverse than that. Thanks to platforms based on the web, anyone with a bank card and an internet connection can open a trading account and make a deposit. As this review eToro shows it’s possible to profit from the rise and fall in shares in firms like Facebook and Amazon.

Taxi drivers

Take a walk around any major city street, and it’s likely you’ll find that at least a few of the cars going past are being driven in the name of Uber, Lyft or another major ride-hailing app. That’s because it’s now so easy to simply order a cab no matter where you are and have it come straight to your door. But while ride-hailing companies may have benefitted, it’s certainly the case that traditional taxi driving firms have not – and many are now going out of business as they cannot compete with the low prices of the ride-hailing app services.

Stock traders, taxi drivers and even buyers of homes – nobody has been exempted from the technological revolution, and it’s unlikely that this will be about to change soon. Finance in particular has been a long-running beneficiary of this shift, and it’s now much more democratised and easier to access financial services such as trading and investment. Over the long term, this could well lead to a situation in which people are able to grow their wealth in a much more efficient and accessible manner.

Elliot Preece