Industry Overview

At its most fundamental, technology is the purposeful application of information in the design, production, and utilization of goods and services, and in the organization of human activities. There are many types of technology, for example, tangible technology concerns blueprints, models, operating manuals, and prototypes, while intangible technology includes consultancy, problem-solving, and training methods. At its very core, technology is about methodology. High technology, such as computers and robots, are entirely or almost entirely automated and intelligent technology that manipulates ever finer matter and ever powerful forces. Low technology, refers to simple, often traditional or mechanical, technology; for example, a calculator is a low-tech calculating device. Technology can also be divided into types based on purpose. There’s industrial and manufacturing technology, medical technology, communications technology, and others. Industrial and manufacturing technology is technology with the goal of either producing a product on a large scale, or performing another large-scale function where customers are not directly present. Medical technology, for example, is technology that serves the purpose of diagnosing, treating, or preventing disease including MRI scanners, which take images of the inside of the human body; ventilators, which breathe for people; or even simply drugs and medicines that people take to make them better.

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