For the purpose of this article, “Tech” refers to any of the following: computer technology, information technology, computer software, engineering technology, communications technology, and related technologies. Technological change is a dynamic phenomenon, constantly changing the fundamental principles upon which contemporary technological systems are based. Technological change is an essential component of modern life and is one of the key drivers of economic growth and societal development.
One way to categorize a country’s tech sector is by using the acronym ITI (International Technological Index). IITI divides technology-related activities into three separate categories Computer technology, Information technology, and engineering technology. In the United States, the term tech is often used to refer to these three technologies, but it is not an accurate term since there are many overlapping subcategories within these three areas. This can be illustrated by the fact that in many ways, computer technology and information technology overlap, but information technology has slightly more depth and is more focused on applications.
A brief history of tech terminology is important to understand the dynamics of technological change and the reasons why it is important to consider the definitions of existing terms. The industrial revolution also called the technological revolution, is considered the start of the modern era of computer science and computing. At the beginning, the industrial revolution affected many different sectors of the economy including textiles, pottery, gun powder, tobacco, iron, railroads, and manufacturing. The impact of the industrial revolution was profound because it disrupted work and income patterns across the board. This disruption was later generalized to the country as a whole and contributed to the increasing divide between urban and rural life.
A big data analysis will highlight the need for tech professionals to understand how society and industry have been impacted by the technological advances of the past few decades and what implications these advances might have for society today. Technological change is not only impacting the business world. Technological change is also impacting the education system, the government, and even the personal lives of individuals.
The Future of IT Industry
In response to the need for more up-to-date definitions of terms like TCO (the Total Cost Of Ownership) and HCO (cost or cost of ownership), recently published definitions from the Oxford study “The Future of IT Industry”, are helpful. According to the Oxford study, “IT firms must define and guarantee customer needs.” The need for accurate TCO and HCO measurements is especially important for businesses engaged in managing the enormous amounts of data that are generated daily. According to the recently published definitions, IT firms are required to “assess the value of IT” and “establish and maintain accurate business value chains.” The definition also indicates that IT managers are responsible for providing the customers with “a high quality IT service and product, at an affordable price.”
Other definitions are available from the Association for Information Technology and Management (AITM) and the Center for Technology Evaluation (CTE). These definitions provide detailed criteria for defining and measuring tech support. According to AITM, a measure of value can be derived by defining a target quality and defining key performance indicators to be used by a business. The definition states that the metrics should include three core components: technical benefits, financial benefits, and business impact.
On the other hand, according to the CTE, a definition of a tech career may include any occupation in which the person works in which utilizes computers, technology, software, networks, digital communications, math, engineering, social media, or physical products. According to the CTE, “any occupation that enhances the quality, productivity, and service provided by humans.” A new entry-level position in a tech career may require training in business software and augmented reality technologies. Companies looking to fill open jobs in IT departments may consider hiring individuals who are skilled in both business software and augmented reality technologies.
Both Oxford Institute and AITM define IT jobs as “an overview of information systems, networks, data centers, computer hardware, software, and virtualization technologies.” According to Oxford Institute, “The chief aim of an IT job is to improve the quality of information systems and to maintain the competitiveness of a company.” AITM on the other hand defines technology jobs as those that “operate and manage information systems and networks; prepare network solutions; evaluate information systems and new applications.” Both definitions state that IT professionals use various computer software programs and devices to implement business processes. These may include application software, desktop software, laptops, smartphones, tablet computers, networking technologies, storage devices, desktop management software, server management software, web server software, voice, image processing technologies, visual computing technologies, and other forms of information technology.