Question

Discuss the impact of the IT revolution on the poorest countries.

Answer 1

IT revolution has made a positive impact upon the poorest countries, in a way that it has fueled economic growth in these countries. IT revolution has created technology spillovers and companies in the poorest countries, started utilizing technological advancements to increase efficiency and productivity in production and operations process, supply chain and other activities where different components were located far from each other. So, IT revolution helped facilitation of technologies such as automation, ERP implementation, farm mechanization and use of information technology in communication to develop s network in real time. It increased the productivity and income level of people in these poorest countries increased. It started transforming the economy of these countries and growth rate in GDP started to increase in these countries.