The corona virus outbreak is first and foremost a human tragedy throwing lives of millions of people in disarray. The effects of COVID-19 have been felt around the world and its having a significant impact on the technology sector. From supply chain disruptions to inflationary risk on products, the whole balance of the economy has been impacted. From a positive perspective, the disruption has caused a rapid increase in remote working and re-calibrating the priorities for businesses in terms of sustainability practices.
During the COVID-19 pandemic, technologies are playing a crucial role in keeping our society functional in a time of lock down and quarantine. And these technologies may have a long-lasting impact beyond COVID-19.
10 Technology Trends to Watch Out For
Here are some of the technology trends noticed during this pandemic and may emerge as the new normal in upcoming times:
- Remote Work
Many companies have asked employees to work from home. Remote work is enabled by technologies including virtual private networks (VPNs), voice over internet protocols (VoIPs), virtual meetings, cloud technology, work collaboration tools and even facial recognition technologies that enable a person to appear before a virtual background to preserve the privacy of the home. In addition to preventing the spread of viruses, remote work also saves commute time and provides more flexibility. The flip side to this is security concerns which has exacerbated companies to look for stable platforms like Cisco WebEx and Microsoft Teams.
- Digital and Contact-less Payments
Cash may carry the virus hence countries have implemented various measures to ensure banknotes are clean before they go into circulation. Now, contact-less digital payments, either in the form of cards or e-wallets, are the recommended payment method to avoid the spread of COVID-19. Digital payments enable people to make online purchases and payments of goods, services and even utility payments. Apple, Google and Samsung are already vying for the top spots in this space.
- Online Shopping
In late 2002, the SARS outbreak led to a tremendous growth of both business-to-business and business-to-consumer online marketplace platforms in China. Similarly, COVID-19 has transformed online shopping from a nice-to-have to a must-have around the world. Amazon and Alibaba have been quick to grab on this opportunity which has forced brick and mortar retail chains like Lulu and Carrefour to play catch up.
- Distance Learning
As of mid-April, 191 countries announced or implemented school or university closures, impacting 1.57 billion students. Many educational institutions started offering courses online to ensure education was not disrupted by quarantine measures. Technologies involved in distant learning are similar to those for remote work and also include virtual reality, augmented reality, 3D printing and artificial-intelligence-enabled robot teachers.
- Telehealth
Telehealth can be an effective way to contain the spread of COVID-19 while still providing essential primary care. Wearable personal IoT devices can track vital signs. Chatbots can make initial diagnoses based on symptoms identified by patients.
- Online Entertainment
Cloud steaming platforms such as Netflix and Amazon Prime have seen their stocks surge during this pandemic due to substantial increase in subscriptions. Due to the limitations in public movement, such services will see a boost in their earnings.
- Supply Chain 4.0
The COVID-19 pandemic has created disruptions to the global supply chain. With distancing and quarantine orders, some factories are completely shut down. Core technologies of the Fourth Industrial Revolution, such as Big Data, cloud computing, Internet-of-Things (IoT) and Blockchain are building a more resilient supply chain management system for the future by enhancing the accuracy of data and encouraging data sharing.
- 3D Printing/Additive Manufacturing
3D printing technology or additive manufacturing has been deployed to mitigate shocks to the supply chain and export bans on personal protective equipment. 3D printing offers flexibility in production, the same printer can produce different products based on different design files and materials, and simple parts can be made onsite quickly without requiring a lengthy procurement process and a long wait for the shipment to arrive.
- Robotics and Drones
COVID-19 makes the world realize how heavily we rely on human interactions to make things work. Labor intensive businesses, such as retail, food, manufacturing and logistics are the worst hit. COVID-19 provided a strong push to roll-out the usage of robots and research on robotics. In recent weeks, robots have been used to disinfect areas and to deliver food to those in quarantine.
- 5G and Information and Communications Technology (ICT)
All the aforementioned technology trends rely on a stable, high-speed and affordable internet. 5G has demonstrated its importance in remote monitoring and healthcare consultation. The adoption of 5G will increase the cost of compatible devices and the cost of data plans. Addressing these issues to ensure inclusive access to internet will continue to be a challenge as the 5G network expands globally.
The Importance of Digital Readiness
COVID-19 has demonstrated the importance of digital readiness, which allows business and life to continue as usual – as much as possible – during pandemics. Building the necessary infrastructure to support a digitized world and stay current in the latest technology will be essential for any business or country to remain competitive in a post-COVID-19 world, as well as take a human-centered and inclusive approach to technology governance.
Digitization and pandemics have accelerated changes to jobs available to humans. How to mitigate the impact on the larger workforce and the most vulnerable is the issue across all industries and countries that deserves not only attention but also a timely and human-centered solution.
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