How was technology changed in the modern era and what impact has this had on global trade and standards of living?

In the modern era, technology has advanced rapidly, particularly with the rise of the internet, mobile communication, and automation, which have transformed how businesses operate and communicate. This technological evolution has facilitated global trade by enabling faster transactions, improved logistics, and access to international markets for small businesses. As a result, these advancements have contributed to higher standards of living by increasing economic opportunities, reducing costs of goods and services, and fostering innovation across various sectors. However, this shift has also led to challenges such as job displacement and income inequality that need to be addressed.