by Adrian Savarese
Coronavirus has challenged all businesses during the first 6 months of 2020, in fact, it is possible to agree that it was responsible for the biggest digital transformation boost during this century.
This scenario had a tremendous impact on the tech landscape as a whole, but, naturally, the effects were very different in the different industries’ sectors.
The global COVID-19 lockdown has unprecedented impacts and this chaotic situation is forcing companies across the globe to rethink and accelerate their business strategies. Here are the five biggest changes in industries to consider.
Online consultation is here to stay. Lots of health companies, like Clinics and hospitals, are offering and deployed digital channels: online doctor booking and patients consulting via secure video calls. Mobile apps and web platforms are at the edge and, also some companies are working with AI agents for the initial diagnosis based on patient symptoms.
Benefits for the patients, besides the safety factor, it also saves their time and energy. For sure we have to wait for the “new normal”.
People will keep using it? For all the health specialties? For the first diagnosis, clinics and hospitals will force online consulting?
Moving to work from home was a struggle for many companies, but after the first weeks of adjustments, most seem to be adapting well. What’s more trending companies (like Google for example) said to employees that they can work from home forever.
It’s highly likely that remote work is here to stay and collaboration tools like video conferencing, chat, docs and files sharing are hotter than ever. People that have the chance to work remotely (like we do here at SimTLiX) enjoy several benefits, like a better balance between private and professional life and the possibility to save time traffic.
COVID forced schools and universities to close their doors indefinitely. Thus, educational systems from virtually all countries faced the possibility of losing a school year. These changes led to a boom in the adoption of educational platforms.
For University careers and post-high school, the 100% online model might not become dominant shortly, but the pandemic helped it grow and reach new people that might now consider it a valid option.
On the other hand, for primary and secondary education the situation is more complex. The impact has been dramatic and transformative as educators scramble to put in place workable short-term solutions for remote teaching and learning, particularly in emerging markets, where students and schools face additional challenges related to financing and available infrastructure. Around the world 1.5 billion students are no longer able to physically go to school according to World Economic Forum.
It’s true that e-commerce was running up before coronavirus but, the lockdown helped it grow even more. The online shopping phenomenon during the pandemic saw how the already-established big players grew even more, but be careful…there’s so much room for new online shoppers that even new players could take a piece of the pie. Is this the end of physical stores? Waiting anxiously for the new normal.
Fintech & Banks
Three things conspired for the recent rise in digital and contactless payments:
- On the one hand, the growth of online shopping naturally drove to an increase in digital payments.
- The fact of not carrying the virus from/to anyone.
- The new and old generations want all on their mobile phone: no more wallets, no more physical cards. One device, all the services.
A lot of people and small business got their first experience using digital payments. However, there is a big challenge ahead for the adoption of digital and contactless payments to be more widespread – the fact that there are more than 1.7 billion unbanked people in the world. Mobile apps and digital wallets should provide a simple, secure and faster End to End-user experience; from digital onboarding to payment complaints.
The COVID is shaking all businesses and organizations. Is your company struggling with digital transformation? The time to market is crucial and, in some cases, not all the technical know-how are available in-house. You should consider a company to team up for the deployment and, work as one team.