Technology, while apparently aimed to simplify our lives, only makes our lives more complicated.Write a response in which you discuss the extent to which you agree or disagree with the statement and explain your reasoning for the position you take. In dev

The technology developed by Wright Brothers during 18th century for enabling people to fly like birds and travel across the world within few hours has made the business travels and leisure travels not only possible, but also comfortable and less time consuming. While there are no reservations that technology has been improving and making lives of many people easy, there are reasons to believe that it is also making lives of regulators, such as financial or banking, complex and difficult to endure. The recent raucous of election meddling in USA that erupted in 2018 confirms that the technology, such as of gathering data from people without their consent and using it for illicit purpose, making the life of federal agencies tough since hackers are cleverly finding their way out of their grips.

The first reason that supports the idea of technology is bane is that with the advent of high frequency trading, which is nothing but another technology innovation of stock market, the money of investors are not safe, since traders are creating and using complex algorithms which are recondite to these investors. Moreover, federal agencies, such as Securities Exchange Boards and Federal Reserve, are not in a position to comprehend the underlying structure of securities which is convolutedly interlinked with other securities of the world markets. A good example of this is the ban of high frequency trading that was implemented by Government of India in 2018, since traders were using illicit hacking of the market information by using the technology that was delivering the relevant information to these traders before information released to public. Therefore, technology is creating a problem by superseding and deceiving the regulators.

Another reason that buttresses the thought of restricting the use of technology is that it is exacerbating the problem of bank frauds while conducting transactions on internet. With the advent of technology of sending or transferring money within fraction of seconds, the money of depositors are more vulnerable than ever. It is widely believed that hackers can intrude in the banking circles, despite several steps taken by banks to prevent such moves, with advanced technology such as by creating by fake internet links and website. This can be illustrated by the incident that was occurred in 2014 in India when Banks in India offered seamless transfer of money without going or coming to the bank. The result was that a group of internet hackers created a fake website, pretending to be a bank, and deceived people by transacting their money through this fake bank. Hence, technology is deceiving people more than helping them.

However, one reason that argues that technology is making life easier is that with the advent of technology the agriculture production is increasing. Earlier, farmers in India were reluctant to store their produce, since no technology was there to inform them about the patterns of rainfall in the coming months that made them to sell immediately their produce lest unprecedented rain would damage the crops. However, with the introduction of live feeds through satellite images of clouds and analysis of past data, the farmers are acting prudently now and deciding which crop to harvest depending on the predicted amount of rainfall. For instance, before 1980, the amount of production of crops was worth 800 million rupees, however, when the technology was introduced, the production reached to 2100 million rupees in 1994. Hence, technology is filling the gap in the information that is necessary for people to live happily.

As can be seen from above paragraphs that although technology helping people to enjoy the prosperity now, it is creating unprecedented problems for regulators and fleecing people of money. Therefore, technology must be restricted only to the fields where advantages outweigh the problems.