As industrial technologies enable people to do more work in less time, there is a general monetary profitability for companies. While there are a few disadvantages, discover the importance of industrial technologies.
Cost efficiency
The introduction of machines to do work comes with a great advantage for owners and managers of firms. As most machines can accomplish a task faster than a human being, the machine does not tire. As long as it has supply of fuel, it can continue working for long after a human being retires to bed.
Managers can inject the money saved here into other areas such as research and extension. Additionally, companies can save huge costs, as technology provides results that are more accurate. For example, weighing machines can use advanced applied industrial technologies to measure materials accurately and store data efficiently.
Discovery of new ideas
Industrial technologies have led scientists to discover new ways of doing things. For example, the oil drilling industry benefits from modern machines that are more intuitive and efficient than their predecessors. With the current trend, technology will surpass human resource in most industries.
Elimination of injuries
With industrial technologies, companies and industries can greatly reduce or eliminate accidents. When they employ machines to perform difficult or dangerous tasks, fewer people are involved. If something goes wrong, managers know they face fewer cases of bodily injuries and death. In addition, they will pay cheaper insurance premiums since few people are involved in the work at hand.
Increased productivity
The fact that machines perform more work than humans cannot be overemphasized. This is perhaps the biggest reason companies employ machines in their industries. The convenience and efficiency of using industrial technology is also desirable.
Encourages creativity and growth of the intellect
Creation of jobs
Students in technological fields know they will have jobs, as there is great demand for their talents and knowledge. At the same time, experts in technology have steady supply of work when these machines need maintenance, repair, and upgrading.
Disadvantages of industrial technologies
Even with innumerable advantages, these technologies have their fair share of drawbacks. For example, a company can cripple due to increased dependency on technology. For example, if the machines develop technical faults, a manufacturing company cannot produce as it usually does.
The fact that fewer people are needed to operate most industrial technologies leads to a loss of jobs. Even in industries where people are involved, there is a general loss of value for the work they do.
These technologies need people to operate them. However, as companies become over-reliant on machines, people's talents and natural ability is limited because there are few places to exercise these.
