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Role of ICT Applications in Everyday Life - Task 1

Information and communication technology (ICT) plays a crucial role in finance, banking, industries, and commerce by facilitating online transactions, automating production processes, and enhancing communication. In finance, it enables rapid data processing and electronic money transfers, while in industries, it streamlines production planning and data analysis. In commerce, ICT improves productivity and global expansion, with a significant increase in e-commerce app usage from 2017 to 2021.

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26 views1 page

Role of ICT Applications in Everyday Life - Task 1

Information and communication technology (ICT) plays a crucial role in finance, banking, industries, and commerce by facilitating online transactions, automating production processes, and enhancing communication. In finance, it enables rapid data processing and electronic money transfers, while in industries, it streamlines production planning and data analysis. In commerce, ICT improves productivity and global expansion, with a significant increase in e-commerce app usage from 2017 to 2021.

Uploaded by

ompmujeeb
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Role of ICT Applications in Everyday Life

1. ICT IN FINANCE AND BANKING Information and communication technology is used daily by financial
companies, to trade financial instruments, to report a business's earnings, and to keep records of
personal budgets. ICT allows rapid calculation of financial data and provides financial services companies
with strategic and innovative benefits as well as electronic transfer of money, through the use of credit
cards, or e-commerce, which includes the purchase and payment via the Internet and others. ICT helps
deal with security concerns, legal issues and access to global markets. ICT is applied in the banking
sector in the following ways:

1. Banks use computers to control the entire banking system.

2. On-line transactions by customers are possible 24 hour.

3. Accessing company account by businessmen On-line. 4. Supervision of banking activities by bank


administrators.

4. ICT IN INDUSTRIES IT plays an important role in various sectors and industries. Similarly, IT strives to
make things simpler in the manufacturing sector as well. In an industry that automates things for the
benefit of humankind, IT helps to make the manufacturing process less cumbersome and more
automated. ICT is applied in the industries in the following ways:

1. Computers are used to facilitate production planning and control system.

2. Automation in the production of goods.

3. Researchers use computers to analyse and collect data for future reference.

4. Computers are used by administrators to oversee the entire operations in the factory.

2. ICT IN COMMERCE The role of ICT in business is seen in however it will facilitate your company
become a lot of productive, increase performance, save money, improve the client expertise, streamline
communications and enhance social control decision- creating. It additionally play a task in serving to
corporations expand globally and in providing workers access to company data where and whenever
they have. From 2017 to 2021, e-commerce app sessions have increased by 92%, while downloads have
only increased by 11%.

1. ICT makes buying and selling easier.

2. Computers are used by customers to connect On-line with Suppliers.

3. Computers are used to keep record of transaction.

4. ICT is applied as a means of communication between customers and the producers

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