Technology is a broadly defined term that applies scientific knowledge to the practical aims of human life or, as the more specific term suggests, to the change and manipulation of the environment. Technological advancements can contribute to political and social progress but they can also disrupt existing hierarchies or harm individuals and groups. As such, the effects of technology are highly dependent on extraneous factors and can be either beneficial or harmful depending on how they are interpreted, used, or wielded.
Modern technological tools are typically complex machines that require substantial investment in their design, construction, and maintenance. They often involve a step-by-step process of research, development, and innovation – each step validating the underlying principles and testing them against reality. Consequently, it is rare for a new invention to be fully realized at first – apparently promising technologies frequently stall midway through their development cycle and must endure considerable painstaking effort before reaching full potential.
Increasingly, technology is being applied to non-physical realms as well – such as in computer software and networks or in data processing and management. It is a highly complex field of inquiry that demands a sophisticated, multidisciplinary approach to its study.
Technology can be a lucrative area in which to invest, with companies that develop cutting-edge solutions being handsomely rewarded by the stock market. However, investors should be aware that the ebb and flow of tech stocks can be volatile and they should seek out diversified investment options that include other sectors as well.