What is technology

Technology refers to the application of scientific knowledge, tools, and techniques to solve practical problems and achieve specific objectives. It encompasses a wide range of processes, skills, methods, and devices that are used to produce goods or services or to accomplish tasks efficiently. Technology can be found in various fields such as communication, healthcare, transportation, education, entertainment, and more.

    Advances in computer processing power, data storage, and communication technologies have aided the growth of technology. It has also been fueled by a growing need for faster, more efficient, and more accessible modes of communication and information transmission.

    The use of mobile banking is an example of technology in action. Customers can use their mobile devices to access their bank accounts and complete operations such as deposits, withdrawals, and bill payments. Banking has become more convenient and accessible, particularly for persons who live in distant locations or have limited access to traditional banking services. Mobile banking has also decreased the need for physical bank branches, resulting in cost savings for banks and enhanced banking industry efficiency.