Y2K Crisis
Illustration★★★According to an article in USA Today, good will likely occur out of the gloom and doom of the Y2K computer crisis. There are three reasons suggested by professors at the School of Business at the University of Maryland. First, it will lead companies to develop more efficiency through innovations and restructuring. Second, the problem will promote economic globalization.
Governments and industry are being forced to discover that international cooperation is required to solve the problem and the impending deadline is producing cross-border teamwork which had previously been unimaginable. Finally, the crisis will lead to the acceleration of information technology, as the new emphasis will have many positive ramifications including better cost-management systems.
While there is certain to be some short-term crisis caused by computer glitches, in the long term the creativity of humankind is likely to result in many significant benefits.
The point
The Y2K computer crisis, despite its dangers, prompted international cooperation and innovation that accelerated technology and efficiency.