In the last few months, COVID-19 has shown the importance of digital maturity and the speed of responding to the emerging digital environment. Companies from industries, such as healthcare, education, finance, or even manufacturing have been forced to start using new technologies to reinvent every aspect of their operations. Without that, we wouldn't be able to continue as usual during the pandemic.
Now, more than ever, businesses need to focus on how to stay competitive on the market, of an already heavily digitized world and keep up to date with the latest tech trends. Let’s take a look at what thrives in a post-COVID world.
Intelligent data processing, face and speech recognition, and a number of other technological innovations have become possible due to AI. It is predicted that by 2030 AI products will have hit a staggering $15.7 trillion share in the global economy.
Also, it is already a fact that people's habits will not revert back to pre-pandemic norms. We have started buying more online, many of us already work remotely full-time. In the post-COVID 19 world, companies will need to adapt to the new reality and the application of artificial intelligence is the way to go to adapt to it. This situation may also work as an incentive for businesses to invest in talent management systems when recruiting talents, such as Lumesse, an app that we have developed at Ready4s.
However, industries like retail and supply chain can benefit from AI the most – machine learning and advanced data analytics can help detect customer purchasing patterns and, therefore, offer a more personalized online buying experience.
That's all thanks to AI systems that analyze immense amounts of data to detect and remember purchasing habits based on which the computer makes decisions. So even if the pandemic is over, these AI tools will keep learning which makes them extremely valuable.
Another technology that the coronavirus is a driver for is the Internet of Things (IoT). It is no wonder – IoT keeps offering us solutions that were unthinkable even a few years ago, such as smart forks that let you know if your food is healthy for you.
Currently, there are 30.78 billion IoT devices and it is predicted that this number will increase to 75.44 in 2025. The pandemic has certainly fueled telemedicine. Now, more than ever, people spend more time at home, IoT devices that make our lives easier and better are becoming more and more popular. Just like SidlyCare, an innovative medical app from the Ready4S portfolio that’s connected with the Sidly Care Band which helps doctors and senior care assistants to monitor their patients' health.
When isolated at home for weeks during the pandemic, many people have started using VR headsets to play games as well as seek human interaction on VR platforms. Companies have turned to VR to train their remote employees, organize conferences, work together on projects, and so on. As a result, the previously underestimated VR technology is celebrating its triumphs like never before. Our vast portfolio of projects at Ready4S also included an Augmented Reality project, the Wow! Stuff game, that allows anyone, especially Harry Potter fans to become a wizard.
Cloud-computing services have perfectly managed to weather the storm caused by the virus. As the pandemic outbreak forced plenty of employees to work from home, the demand for cloud-based video conferencing has surged. This has caused many businesses to upgrade their services to the cloud and the trend continues. Especially educational institutions are predicted to make the most use of cloud technology. It is predicted that more schools will now apply remote information management apps that allow students, teachers, and parents to stay in touch. For example, ClickEdu, an app from the Ready4s portfolio has an internal communication system and an integrated calendar. This trend will only continue, so in order to stay competitive on the market, businesses are advised to implement cloud into their mobile apps.
Last, but not least is cybersecurity. As hundreds of thousands of people were all of a sudden forced to work remotely during the coronavirus outbreak, the volume of private data transmitted over the internet has dramatically increased. Unfortunately, the number of cyberattacks during COVID-19 proves that this data hasn't always been secured the right way. This challenge again may trigger businesses to implement more cybersecurity practices.
The aftermath of COVID-19 is somewhat comparable to a global crisis. It has slowed down some industries but accelerated others that have already been well underway before the pandemic outbreak.
As companies go through recovery, they have to invest in digital transformation initiatives that have been forced upon them by the pandemic. To position themselves on the market and stay up-to-date on the emerging trends, they have to follows the ones listed above. Finally, it is safe to say that we've all witnessed that the most successful companies during the pandemic, and even after it, are the ones that have managed to shift their tech investments to the cloud, AI, VR, and mobile to make sure their business runs smoothly even during the pandemic.