Tech and Society: Exploring the New Frontiers of Culture
17 May 2023
The notion that technology and culture interact is a recurring theme in the post that was published yesterday regarding persistent chat rooms. Most of the time, we tell the story that culture makes technology because it seems like the most natural way to explain our history and puts our choices first. However, we also have to think about how technology affects or makes culture.
The industrial society was created by the technology that drove the industrial revolution. A culture of commuters, vacationers, and the suburbs emerged as a result of the mass production of automobiles. Jazz, big band, and fireside chats were all born out of radio, which established a culture of listeners. The culture of Hollywood, MTV, always-on news, and reality television shows was created by television. I’m afraid to use examples that may be out-of-date by the time you read this because the culture being created by the Internet is changing so quickly.
In the same way that culture is woven into technology, culture itself is woven into technology. Technology develops itself if we follow this thread to its logical conclusion. Movies like The Terminator and Marvel’s Avengers are made possible by this awareness that technology is creating itself: Work for Age of Ultron It is true that fiction is stranger than truth.
The discussion of how technology influences culture is frequently led by technologists or historians, which contributes to a sense of extreme abstraction. There is a transition from, say, automobiles to suburbia. Yes, I did it above because it’s helpful to see those extremes. But I think those big leaps also make the conversation seem less personal to us because they are the story of big social changes that we are reacting to, not actively strengthening or co-creating with other people.
Naturally, the group’s behavior can be altered by an individual’s personal behavior for each of those examples. It is just more difficult to do so because so many of those norms are being established so quickly, all over, and unconsciously.
Although it may appear so at times, I am not pessimistic about the direction in which these norms are leading us because they are also facilitating social change such as the Arab Spring, global connectivity, new economic realities and pathways, and improved government. Technology enables us to find or create the relationships and communities that correspond to our preferred model of thriving, whichever that may be. I’m unceasingly confident that we can incline toward the upside, limit the terrible, and deliberately investigate the ill defined situations, which precisely why I talk such a great amount about what innovation is meaning for our lives, connections, networks, and work.
As referenced before, the four elements of a Culture of Development are individuals, information, cycles, and innovation. While all are essential, let’s focus on technology. According to the survey, technology is the area in which organizations in both Asia Pacific and India need to place a high priority in order to guarantee future business performance and resilience. According to the findings of the study, as a response to the crisis, 78% of Indian businesses are accelerating their digitalization efforts.
Paisabazaar.com, India’s largest digital lending product marketplace, is one such story. In order to rethink how loans are distributed in India, the fintech industry is driving technology innovation in their offerings. Using the capabilities of Microsoft Azure AI, they developed Paisabazaar Stack, which has made loan disbursements and credit card issuance entirely digital. Utilizing the computerized Stack, Paisabazaar.com is helping its customers flawlessly benefit recent eye to eye cycles, for example, KYC check, pay and work approval, reimbursement set-up, and assent on-credit understanding. Through presence-less and contactless processes, the platform has made it easier for individuals to access credit and loans, reducing loan disbursement time from three to seven days to three to five hours.
Additionally, their “Chance of Approval” feature makes use of predictive algorithm models and Microsoft Azure Machine Learning to offer customers loans. In the past year, this has increased Paisabazaar approval rates by 25%. Using Microsoft AI and Analytics solutions, Paisabazaar.com also offers “pre-qualified offers” from partner banks on its platform to significantly shorten consumers’ loan approval times.
Companies should not overlook other aspects of creating a Culture of Innovation, particularly People, even though they consider digital transformation to be crucial to business recovery. An equally important priority is cultivating the right culture that encourages innovative ideas and skilled talent. Organizations raced to bring people together despite lockdowns by adopting digital tools like cloud services, mobile technology, and video-conferencing apps as work, school, healthcare, and even social activities shifted to a remote model. In response to the crisis, those who had the technology in place and people who were able to use it to its full potential clearly had the advantage.