INFORMATION INDUSTRY: The transformation

NAME:- KEHINDE R. AFOLAYAN
REG. NO:- MIM/EDUC/9297/2009-2010
Department:- Library and Information Science
FACULTY:- EDUCATION
COURSE TITLE:- ONLINE INFORMATION INDUSTRIES
COURSE CODE:- LIBS 883
QUESTION:- SUMMARISE THE ARTICLE IN ONE HALF PAGE AND CRITICISE IN HALF PAGE 

The information industry is metamorphosing into a vast technological change that would trigger a corresponding change in the economic forces as it has enormous impact in every sector coupled with the changes from narrow-band information transmission to broadband communication. Information related businesses are becoming electronic and digital. As a result of superior integration and exploration of information technology, America is investing trillion of dollars in information related goods and services thereby risen to becoming the most competitive economic power in the world.

Consolidation and Alignment

Reason information industries have traditionally been defined in term of form of information is because the government has actively constrained companies from entering other types of information businesses.  Structural transformation is predicted to result in three major industries (content, devices and networks) instead of five in which the vision is a creation of national – eventually global electronic communication network that connects people and organization together e.g., electronic banking, education, shopping, tax paying, chatting, game playing, video conferencing via Internet connections anytime, anywhere. This will invariably transform the way we work, play and live – a paradigm shift.

Specialization

However, specialization in the information industry is paramount as core competence is needed for service delivery thus industries will develop via equity and partnership.

 In the new era, convergent technologies will lead to worldwide end- to-end voice, data, fax, video and images services and a global network that is both a transparent communications service and a platform for content filled or enhanced services.

Inefficiency in information Industry

Despite the phenomenal change that is taking place in the information industry, there are records of ineffectiveness of low penetration of phone service in a large part of the world, inefficient information distribution. However, the following factors will be essential towards the future of information industry: flexibility, speed, productivity, alliances and partnering, global orientation.

My View
Information can be as important as food, water, shelter or medicine without which can be fatal. The first link in the information link is communication; the ability to disseminate, describe, deliver without physical presence is overwhelming. Information super highway has resulted in proper and timely decision making in organizations where Internet is functioning well. One does not have to waste time printing reports e.g. end of term report, all you need do is to e-mail persons concerned.