Advantage: Cost Efficiency
Cost efficiency is an advantage in some ways and a disadvantage in others. As technology improves on existing processes and showcases new ways to accomplish tasks, machines are able to produce the same -- if not more -- output than humans in certain industries. This results in cost savings for business owners, allowing them to invest in growth in other areas of the business, which contributes on a positive level to the economy as a whole.
Disadvantage: Less Value In Human Workers
At the same time, human workers retain less value, which is a disadvantage of technological advances. Because machines automate processes and do the work of 10 people with one computer, companies find they don't need to employ as many people to get the job done. As machines and computers become even more advanced and efficient, this will continue to be a growing disadvantage of technology and an issue that has a global impact.