GENERAL KNOWLEDGE

Detailed explanation-1: -Is technology growing exponentially? Yes, technology is growing exponentially. Computers’ speed and power have generally been doubling every one and a half to two years since the 1960s and 70s. This is exponential growth, and while some experts doubt this rate is sustainable for much longer, it’s true for now.

Detailed explanation-2: -Technological progress allows for the more efficient production of more and better goods and services, which is what prosperity depends on. However, the mechanisms through which technology is developed, adopted and used in production are complex.

Detailed explanation-3: -Technological evolution speeds up exponentially Because each generation of technology improves over the last, the rate of progress from version to version speeds up. To see this, imagine making a chair with hand tools, power tools, and finally assembly lines. Production gets faster after each step.

Detailed explanation-4: -Rapid technological change involves, among others, technologies like big data, the Internet of things, machine learning, artificial intelligence, robotics, 3D printing, biotechnology, nanotechnology, renewable energy technologies, and satellite and drone technologies.