HOW TECHNOLOGY COMPANIES LEADING US ECONOMY

            HOW TECHNOLOGY COMPANIES                                          LEADING US ECONOMY

       The developed world has traditionally been driven mostly by technology, and the Fourth Industrial Revolution is currently being fuelled by digital technologies. Everything from live streaming to big data analytics, 5G, blockchain technology, AI, and the Internet of Things are increasingly integral to business and peoples' everyday lives. In practically every area of technology, the US is the global leader. The largest modern tech companies are drawn to centres like Silicon Valley, and the industry has grown to be a significant driver of the US economy thanks to favourable tax and regulatory environments.

According to the ZD Net Report, the US high-tech industry contributes around 29% of manufactured exports to local economies, more than 50% of congressional districts receive at least $50 million in federal R&D support, and each congressional district has about 400 high-tech firms and 3,400 employment. According to Jijun Ran of The Diplomatist, the previous administration was on course to undermine the basis of America's global dominance, but due to the impact of the IT sector, it has held strong. These are the industries that are still driving the US economy.

      ENTERTAINMENT MEDIA TECH

        Over the past few years, entertainment has been forced to become more technologically focused, and over the next two years, both new and established technologies will continue to advance. The Deloitte Media Technology sheet outlines that video streaming will move to being lifetime oriented as opposed to subscriber count centred and that NFTs are poised to generate new models of customer interaction in entertainment. However, online gambling, which has been around for a while in Europe, is one of the greatest newcomers to the US economy. States can now designate their own regulated online gaming spaces, and Delaware, Nevada, New Jersey, and Pennsylvania have all welcomed online casino entertainment platforms since the regulation change in 2018. Play is now permitted in the US on platforms like the Betway Online Casino.

They provide both the most recent video slots, which have features much beyond those of your traditional one-armed bandits, and live-streamed table games. According to market analysts like the iGaming Business Website, New Jersey's online casino revenue reached $133.2 million in December 2021. The state then taxes this revenue at a rate of 14.25 percent to fund other initiatives and the creation of jobs. Of course, many of the biggest international entertainment corporations who dabble in the genre's traditional genres are based in the US. The Walt Disney Co., which has an ever-expanding portfolio of properties, is second in size behind Comcast Corp., which has a net income of $11.5 billion, and both companies significantly rely on technology to improve their offerings.

      BIG DATA TECH AND AI

  

      Software is required to compile and interpret all of the data in a world controlled by applications and services that can and will continuously gather information about people's specifics, preferences, and behaviours. Big data is therefore becoming increasingly important in the commercial world. In fact, Wired's Big Data analysis suggests that using the technology in slow-growing regions of the world can hasten economic growth since it is already a huge force in the industrialised world. Apple's Siri Assistant is one of the most prevalent examples of the technology in use; it uses voice recognition to gather data and enhance the product so that it is then better at detecting speech, with big data fueling this process.

One of the more prevalent instances of big data being used in customer-facing applications is Siri and voice-recognition technology. Big data is being utilised to its fullest potential by the profitable and growing internet advertising sector as well as marketing firms that fork out large sums to have data processed using big data. According to a recent projection by the McKinsey Global Institute, big data could add $3 trillion in value across just seven industries, with the US benefiting by $1.3 trillion. Artificial intelligence is a key component of technology that complements big data.It is employed widely, particularly in Asian Health Care. Big data can help AI applications be even more productive. According to Notified's Globe Newswire, the AI market is anticipated to reach $360 billion by 2028. US big data and AI companies like iTechArt, ScienceSoft, Uptake, and Aurora Innovation are well-positioned to lead this vital and lucrative industry.

The US IT sector, particularly high-tech, is bringing about significant changes throughout business and will continue to be a key driver of the economy.