With the advent of new technologies, people are now able to do things in an efficient way. The use of computers and other devices has helped education sector in many ways. The use of equipment and machines have made manual labour easy in the agricultural sector. The advancement in medical equipment and other devices has made hospital industry advance in many areas.
Another advantage that is coming with technology transfer is the cost saving factors. When new equipment and machinery are used in place of old ones and new technology is being applied for making process running in the industries becomes less costly. Money can be saved in many ways which is beneficial for the business owners. The overall economy of the industry also gets boosted with technology transfer.
The dependency of people over machinery will be increased in long term. When there is any breakage or stoppage of machines people will reach a helpless situation until the problem is solved. The amount of self-reliance for people will become less and people will try to find an alternative in technology for every problem they face.
Another disadvantage of technology transfer is the number of workers who become jobless. Automation of many jobs will make the human labour cheaper and more people will find it difficult to get a job.