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Ict And Its Impact On The Economy - Education - Nairaland

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Ict And Its Impact On The Economy by projectregards: 12:04pm On Sep 18, 2018
Information and communications technology or (ICT) is extensional term for information technology (IT) that stresses the role of unified communications and the integration of telecommunications (telephone lines and wireless signals), computers as well as necessary enterprise software, middleware, storage, and audio-visual systems, which enable users to access, store, transmit, and manipulate information.

In recent years, progress in information and communication technology (ICT) has caused many structural changes such as reorganizing of economics, globalization, and trade extension, which leads to capital flows and enhancing information availability.

Moreover, ICT plays a significant role in development of each economic sector. Growth economists predict that economic growth is driven by investments in ICT. At the present time, ICT has become a serious part of economy. This has led to its reoccurring as a major topic of discuss in most economics undergraduate research topics in diverse institutions in Nigeria.

Almost all firms and consumers use computers and Internet connection for economic purposes, such as providing consumers with some more diversified and customized products, improving product quality, and selling goods and services. Evidently, the extension of ICT and its influences on economic growth in both developed and developing countries has increased very fast during the last two decades.

Election Process: The contribution of ICT to the economy can be visible in its electioneering process. With the use of ICT election process have been modified and electronicised. Hence, making the cumbersome process of election easy. This in a way impacts positively on the economy.

Global Partnership: The introduction of ICT to the economy has encouraged global partnership. In terms of information gathering and dissemination, the wide use of cable and satellite networks has improved the rate of information sharing and reception from media organizations to their audiences.

More so, the use of twitter has so much motivated the citizen journalism. It has inspired the emancipation of user generated content in the idea of global communication. The benefits of ICT to an economy cannot be overemphasized.

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