:By Aaron Williams.
:mim/edu/2294/2009-2010
1. Executive summary
United State has risen to become the most competitive economic power in the world largely as a result of its superior exploitation and integration of information technology which impacted enormously in every significant sector of its economy Hence the justification for the huge investment in information technology which is one sixth of the country’s gross domestic product(GDP).
2. Introduction
In the near future two major forces name technological and economic forces; the later triggered by the former will transform our lives drastically and realign today’s information industry as we know.
3. The Inefficient Information Industry
Because of the relevance and impact of the information industry and technology in our lives and businesses, inefficiencies in this industry is becoming less tolerable.
4. The Vision
The different forms of information will converge into a single but convertible form which can be transported within a convergent or unified single global network.
5. An Avalanche of Mergers and Alliances
Because of the convergence of the different forms of information, the companies that earlier existed base on the forms of information will have to align and merge in other to remain relevant and support the new convergent trend in information.
6. The Information Industry Today
The definition of today’s information industry which is in terms of three elements namely Computing, Office Technology and Telecommunication will become insufficient and it limit the power of the industry as a result of the blurring of the differences between the forms of information which can sufficient be define in terms five elements namely Create and Collection of Content, Display Devices, Storage Devices, Processing and Transportation.
7. The Form- Based Information Industries of the past
The information industries in the past were base on the forms of information namely text,Images,Voice,Audio/Video, Data primary because of the technology at that time for handling the forms of information were different and not applicable to other forms other than the one they are made for and secondly because of government regulations limiting then to different form of information.
8. Information Functions
What people do with information or it functions are content creation and collection, Display, Storage, processing and distribution or transportation.
9. The Technology of Convergence and Digitazation
The reason while different forms of information can converge into a single form is because they can be converted into digital form that is in terms of 0’s and 1’s and then converted back to their original form.
10. Breakthrough in Computing Technology
The advent of microprocessor and advancement in miniaturization, storage, display and software have made today’s computer powerful than mainframes.
11. Breakthrough in Telecommunication
Reduced hardware cost and almost free unlimited bandwidth will unleash a near infinite power of processing by computers as it relates to telecommunication.
12. The Sociology of Convergent
Just as Technology that made it possible to combine different forms of information is impacting on the information industries so will the social implication of this technology that is the acceptability or otherwise of these technologies will determine it enormous impact in the information industry.
13. A Paradigm shift: The new Information Industry
Information forms will be digitalized and companies in the industry will be base on three main category namely: Information content, appliances and Transport.
14. Where Today’s computing Industry will be
Computing will be diffused into distributed memory and processing consisting of three critical ingredients namely memory, processing and software based manipulation.
15. What will it take to succeed?
It will take alliance formation, specialization, investment and integration of multiple complex technologies.
Review of the New Information Industry.
The information industry though still in it premature stage will be of great significance to every major sector of developing and developed economies of the globe. Countries that seek to develop and to remain competitive in the global economy will have to invest substantial part of its gross domestic product on information infrastructure and build a sizable human capacity to effectively and efficiently exploit and integrate information technology into every aspect of its economy.
Future economic boom and increase in standard of leaving will be triggered by advancements in information technologies managed by activities of information industries and innovations which will become more efficient and reliable.
Because information handling in the future will be digitalized there by making information accessibility and distribution efficient and effective, most of our day to day activities and business transactions will be with the use of information technologies which will solve virtually all our demands because of the enormous increase of computing power precipitated by advance micro processor and memory technology and almost free unlimited bandwidth supported by a single unified global network where what use to be an international transaction will become like every other local transactions. A global village the whole world had become.
The economies of the world will increasingly integrate with each other and mergers and alliances of companies will take place to provide and support services that will transcend boundaries. Hence the need for our nation Nigeria to increase its investment and implement laudable policies in information Technology that will guarantee us a place in the comity of nations.
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