Mónica Taher teaches a Hispanicize attendee how to fly a drone.
A drone is the colloquial name we give to unmanned aerial vehicles (UAV) or aircrafts without pilots. Just a few years ago, it was extremely expensive for people like you and me to own one. Nowadays, you can purchase one for even $40. – camera included. You’ve seen them flying. Some people even fly them for fun.
Why do we need to pay attention to drones?
Because of three important reasons:
- Drones collect data and data collection and analysis are the future.
- A lot of careers and industries will depend on drones simply because they will help us save a lot of money.
- Drones will have an effect on the amount of money you and I will earn in our respective careers and therefore, will have an impact on our personal finances.
These are only some of the industries that will soon depend on drones.
- Delivering food
- Humanitarian efforts: rescue operations such as fire departments can use drones to map and contain wild fires.
- Expanding Internet access
- Farming: farmers are currently using drones to monitor livestock on vast areas of land
- Architecture/Engineering: companies can monitor buildings and heavy infrastructures such as manufacturing plants, power lines, towers and pipelines
- The movie & television industries: shots that would have used expensive methods such as a helicopter are now more affordable
- Real estate (imagine the quality photography & videography)
- Exploration: oil and gas
For instance, according to former Defense Secretary Leon Panetta, our government is planning on saving $487 billion in the next decade. These saving include deploying more drones rather than soldiers in areas of conflict. Right now, the Air Force is currently flying 65 drone daily, but as of this year, we will see an increase of 30% in these missions.
Another clear example is the delivery of parcels. UPS has started delivering packages and plans on cutting one mile for each of its 66,000 drivers a day. That means savings of at least $50 million a year for the company.
In the same way, drones will help farmers save an estimated $1.3 billion annually by increasing the monitoring of vast lands. the savings translate into $11. 58 per acre.
Another big shift will take place in the photography/videography industry. Content sales will decline simply because it will be cheaper to capture great shots with drones as opposed to using helicopters and other expensive and traditional equipment. Both Photographers and image banks will be affected.
The most important takeaway I would like us to remember is the impact that drones will have on our personal finances. Since a great number of tasks will now be more affordable because of the use of drones, our finances will either decrease or increase. Hence, why it is extremely important to understand technology from a personal finance standpoint. Technology and money – our money – are incredibly intertwined and I want us, women, to think about them as opportunities, not challenges.