Things changed during the lockdown. Quarantine, social isolation, and social distancing restrictions were implemented across the globe, a myriad of businesses shut down their operations while others worked safely from the convenience of their own homes, and changes in consumer behaviour impacted the economy in a number of ways. A good number of these changes directly impacted the IT industry. Here we will briefly discuss 5 changes that we have seen impact technology and the future of digital innovation.
Economic impact was inevitable. Data suggests that if economic trends continue as they have been since governments enacted lockdowns in their respective nations, we are likely to see significant hits to the global economy. Global trade may experience a reduction of 13% – 32% and global economy growth will experience a 2% loss each month.
Digital innovation has been the lifeline keeping our economies afloat. Innovations targeted towards improving the human experience have been put on an accelerated timeline, due to increases in their value during this time.
Increased Digitization of Communication
Digitization has improved the way we communicate. While it is not news that digital communication is a popular trend, it is news that it is a trend that is not likely to go anywhere anytime soon. The use of digital forms of communication has increased exponentially during lockdown periods. It is now twice as important for companies to digitally interact with their target markets as it allows the needs of consumers to be met much faster than non-digital methods would allow.
Shifts in Production
If your organization can do something to aid the less fortunate during this time, it should. Statistics show that consumers are more likely to support your organization if you rearrange your means of production to aid in pandemic-related needs. That could mean focusing staffing needs on health-related IT projects. Experts suggest hearing from thought leaders on how to restructure your organization to assist humanity during these trying times.
Increase in Tech Trends
In addition to an increase in digital communication, we are likely to see durable trends in the following industries: E-commerce, Digital Media (Streaming services), E-learning, Remote Work Software Tools, Robotics and Drones, 3D Printing, Fintech, and Telehealth. While this list is non-exhaustive, it does suggest that digital innovation is on the rise and is likely to remain so. As a job-seeker, you may want to consider organizations specializing in the aforementioned industries if you are seeking a career that is more likely to survive the pandemic. That is not to say that careers outside of these industries will not live to see the other side of this pandemic. Remember – Anything could happen!