The Covid-19 pandemic has brought about significant changes in the world as we know it. It has deepened our perspective on a couple of things, like health and well-being; while putting some things out of style like the 9 to 5 work culture.
Technology is another aspect that the pandemic has widely influenced. Experts say that the pandemic has hastened the pace of technological advancements by at least a few decades. Some advancements needed some getting-used-to, some were already existent which were made better, and some became obsolete to disappear shortly.
So, as people living in these changing times, we all need to be aware of the trends in technology. Be it businesses who need to plan out their investments, or employees who need to skill up in order to stay relevant, everyone needs to know what we’re getting into as we step into the post-pandemic era.
BARC Studies show that, upon employing big data, 64% of the organizations make better strategic decisions, 54% of them have furthered their operational process control, 52% have a better understanding of consumers, and most importantly, 47% of the organizations have perfected effective cost reduction.
Various industries including healthcare, logistics, business services, education, manufacturing, and communication use big data to dig up the potential that is lying dormant in piles of unstructured data.
According to Statista, as of 2020, the total amount of data being consumed globally was 64.2 zettabytes and this is estimated to reach 79 zettabytes in 2021 and further to 180 zettabytes by 2025. Consequently, the big data market is forecasted to grow to USD 274.3 billion by 2022 with a five-year CAGR of 13.2%.
Covid-19 introduced us to a new digital culture that will only flourish going forward. With the massive influx of digital appliances and applications, data is going to grow bigger and bigger; so are the prospects of big data.
After the pandemic hit, artificial intelligence became a major utility. It helped forecast the infection rate and dispense early warning signs by extracting information from multiple sources like social media, calls, news, etc. AI aided in gathering crucial information about vulnerable sections, mortality, and morbidity rates.
However, the applications of AI cannot be limited to that. Even before the pandemic, we would pull up our mobiles and call out Siri or Google Assistant. We’d sometimes ask random, irrelevant things and get a good laugh out of it. Like so, AI has transpired every inch of our lifestyle. From giving simple map directions to assisting in critical planning and research, AI can do it all.
The advent of AI will transform the current job landscape. It is estimated that 85 million jobs will be eliminated and 97 million new jobs will come into being. Statistics forecast that the global AI market value will reach USD 267 billion by 2027. Apart from garnering such huge investment, AI will also contribute USD 15.7 trillion to the global economy by 2030.
According to GSMA, the 5G network will build 1.2 billion connections by 2025. Thereby covering one-third of the world population.
5G tech’s features like increased speed, reduced latency, faster connection, ability to support millions of connected devices in a mile radius, all contribute to its relevance in the present world. Such aspects make it a primary requirement in uncovering further advancements in fields like blockchain, artificial intelligence, big data, robotics, and the like.
The most advanced mobile technology is here, the fifth generation or 5G. It will revolutionize our digital habits and better our digital quotient as a whole. Using 5G will apportion better backing to many current technologies and future ones.
Telehealth is the confluence of technology and healthcare. Its applications use technology to help bridge the physical divide between patients and healthcare providers.
The Telehealth market is now worth USD 3 billion and is forecasted to reach a whopping USD 250 billion. A survey done by Mckinsey shows that, as of 2019, only 11% of the global population used telehealth. Fast forward to 2021, there is a drastic spike to around 76%. We owe this to the pandemic.
The pandemic has opened our eyes to the boon of telemedicine, but fortunately, emergencies are not the only time when telemedicine can be used. Studies show that 55% of patients appreciate telemedicine for improving their involvement in the process.
The many benefits of Telehealth like cost and time savings, easy access, no risk of traveling have made it a trend that will soon become a norm.
We’re in a world where we crave instant results with cost-effective investments; automation provides just that. An oxford report states that the world can save 749 billion work hours by automating 64% of manufacturing tasks. Imagine the amount of labor costs it will save, and the inefficiency and human errors it will reduce!
There is a lot of debate surrounding automation these days. Some say we will fall prey to it and lose our jobs, while others claim it will open up a new world of job opportunities. Only time can tell which one is true, but so far, automation has not harmed us. Rather, it helped us in the dire times of the covid-19 pandemic when the manufacturing demand was sky high but the supply bottomed out.
So, inspite of the feeble opposition, the post-pandemic world will see a rise in the automation industry. Statistics prove this, 7 out of 10 workers believe that adopting automation in their organization will create better opportunities for them in higher-skilled jobs. Also, a PwC study states that the use of automation will contribute $15.7 trillion to the global economy by 2030.
Automation can be used in manufacturing, healthcare, sales, marketing, finance, IT, agriculture, e-commerce, etc.
Did you know, with every passing minute, $2.9 million is lost to cybercrime!!
In 2020, as people were battling the overpowering pandemic, something else, more harmful, less tangible, was crouching at their back door. The year marked a record-breaking amount of cybersecurity attacks including, phishing attacks, loss of data due to breaches, ransomware attacks, and the like.
As the world progressed to remote working, these attacks became more consistent. Studies show that most cyberattacks are induced via emails and it is unfortunate that employees are not trained enough to recognize a phishing mail.
As such, the corporate world is in a poor state of cybersecurity readiness. A survey shows that more than 77% of the companies lack an incident response plan in case of an attack. So, the future of cyber security is a prospectus one. Qualified cyber specialists, awareness regarding the volume of threats, infrastructure, and solutions, are all the lack of today, i.e., the opportunities of tomorrow!
The world shaped by the pandemic is one filled with possibilities. Covid-19 has magnified the flaws in every industry pointing out the weak links and showing us where we can optimize. All the above technologies have immense potential to become the pillars of the future, a future that is prepared for the worst while offering the best!