Article | August 10, 2020
Article | August 10, 2020
Data insights are a critical element to success and businesses strive to use what they've learned Despite it still being a struggle—90% of data and analytics decision makers see increasing the use of data insights in business decision making as a priority, according to a Forrester report, "Data Literacy Matters: The Writing's On The Wall." "Organizations need to invest in data literacy, and by that we don't mean just improving the skills of business analysts or data scientists," said Forrester principal analyst Jennifer Belissent, who wrote the report. "Data literacy programs must start with basic skills and general awareness of what is data today, how it can be used, the value that it brings to the organization, and their role in collecting and protecting it. That's the only way to ensure that everyone in the organization is doing their part," Belissent added.
Article | August 10, 2020
When the Covid 19 Pandemic hit the world in March 2020, little did we know that it would bring the world to a standstill. When the trials of eliminating the pandemic seemed to be in vain, people started adapting to the “new normal.” Organizations from all sectors bought the best minds together to resume their functioning. Digitalization became compulsory. Thus, instead of waiting for the pandemic to end, people started finding out innovative ways to begin functioning with it.
When organizations resumed their functions, they started building flexible ways for the work to continue immaculately. From managing work from home to flexible working hours for individuals, everything was tried. Technologies in pandemic management emerged to support the changing functionalities.
1. Technology Adoption During Covid - 19
It was noted that;
● There was a 775% rise in cloud services.
● 58% of companies adopted digitalization by July 2020 (It was 36% in December 2019).
● 93% of organizations adapted remote working or collaborative technologies.
● 52% of educational institutions are operational remotely.
The above statistics are proof that technology in Covid 19 has emerged and is a catalyst for organizations to work remotely.
Let us look at some of the digital transformations and technologies that have been there for some time, but their use has been accelerated in the post covid world. And also at the emerging technologies that are here to stay for long.
2. Technologies In The Post Covid World
2.1 Generative Design
Generative Design is a manufacturing technology wherein AI & ML come together and create algorithms to produce a design and multiple iterations based on the specific requirements. When a particular design of the part is generated, an idea is fed into the system. Then the algorithm works out the best permutations and combinations of materials to be used, different designs, and specifications of the part. This assists the designers in choosing the best time and cost-saving combination.
Airbus has used generative design to build partition parts for A320 passenger aircraft. The generative design feature resulted in delivering a partition design that was 45% lighter than the previous ones.
2.2 Cloud Computing
With more and more organizations working remotely, cloud computing is on the rise. Of course, this technology has been there for a long time, but it is an accelerated technology in Covid 19.
As organizations adopted remote working, flexibility and reliability became important. Cloud services promised both at the best costs. Even small-scale businesses adopted cloud services to implement applications. Cloud services are cost-effective and easy to implement. Conferences, meetings, teaching, LMS, and work from home can be easily managed by cloud computing.
This technology in Covid 19 has seen a sky-touching rise and is here to stay for a long time.
2.3 Collaborative Tools
With work from home being so active, security of data, ease of communication, and resource management are the challenges to be handled. Organizations need tools that provide ease of access, communications, and coordination between all the departments. This is where collaborative tools play an important role in technology in Covid.
Collaborative tools assure that all the employees work on one platform. For example, communication, meetings, sales, HR, and all the departments work on one system. These tools synchronize the work of the company and make management effortless.
Microsoft has introduced Fluid Components to support their hybrid working system. Creating a one-of-a-kind meeting room experience to seamlessly streamlining all processes, fluid components will assist them in all possible ways.
2.4 Digitization of Businesses
As said earlier, the stats portray an impeccable increase in the digitization of organizations in the initial 6-month phase of the pandemic. And it increased every day. Businesses in the post coronavirus realize that an online presence is the most efficient and easy way to reach their target audience. Also, it requires limited resources.
The digital conversion of business happened in the post-Covid world, but it will not be a conversion for new companies but a compulsion for new businesses. For businesses to run profitable, technology-driven solutions are a must. This shift of businesses is guaranteed profitable and customer-centric. Digitization helps in removing geographical barriers and cater customers on a broader scale.
With the comprehensive support of AI, automation has gained momentum and promises a bright future for companies. From customer retention to generating sales, the software is developed to give an automated process. Even industries are employing AI and ML to automate their processes from manufacturing to delivery.
The automation industry was developing rapidly in the pre-Covid world but this technology in Covid 19 has seen a boom. Examples of automation are planting sensors, 3D printers, embedded metrology, etc.
China is the world leader in manufacturing due to its low labor charges, but things could change and are changing in the post-Covid world. Japanese companies have been into automation for a long time. These companies can mark their global footprints in these changing times.
IoT (Internet of Things) is a technology in Covid 19 that has gained tremendous momentum. As a result, the prices for sensors, software, and internet-connected things have gone down reasonably. IoT assists with endless possibilities to collect, transfer, and store data for a seamless working environment with minimal or no human intervention.
From home appliances to fleet management, each and everything can be managed remotely. The devices can be controlled remotely when the engineer at the other end has accurate information. IoT has proved to be a success in all sectors.
IoT has played an important role in recovering businesses while fighting the pandemic. In addition, IoT technology in Covid 19 has been implemented for smart homes, smart buildings and is paving the way for a brighter future by implementation in smart cities.
3. Advantages Of Adopting Technology In Covid 19
If you want to be a part of an industrial revolution, you need to adapt to the new ways of doing business. As the human race adapts to the ‘new normal,’ so do the businesses.
The technologies that have emerged in the post covid world promise the answer to most of the challenges. These new technologies promise a more innovative and profitable business with minimum flaws.
Here are some of the advantages of introducing the technologies in your business.
● Cost reduction, speed, and resilience
● Top-notch crisis management
● Top graded data security
● 100% customer satisfaction
● Unprecedented revenue growth
It sounds unbelievable but adopting emerging technologies does deliver more than it asks. For example, the pandemic tried to bring life to a standstill, but the alternate routes to survive proved more fruitful.
4. To Sum It All Up
Technology in Covid 19 addresses all the challenges from planning to execution. Employees are adapting quickly to the new trends as they are employee-centric. These technologies provide the necessary transparency and comfort for employees. Employers benefit as they have the best ROI, and the management of employees is no more an issue.
The adoption of technology in Covid 19 promises a brighter and more innovative future. These post covid technologies already have a host of success stories.
Thanks to the innovation of the above technologies, functions of collaboration, communication, and interconnectedness of devices are stable, continuous, and consistent. However, when all the sectors are required to work simultaneously, which is critical in moving forward, specific changes have to be implemented.
It is high time that companies accelerate their digitization process and implement the required technologies to benefit the employer and the employees.
5. Frequently Asked Questions
5.1 What technologies are used in business?
Businesses use technology depending on their operations and uses. But collaborative tools with implementation of IoT, AI, and other productivity tools are used in collaboration.
Every sector has its set of technologies to be used. So there are technologies for computers, software, networking, manufacturing systems, and more.
5.2 Why should businesses use technology?
Businesses should use technology to accelerate ROI and improve operations. Technology eases the day-to-day operations of the organization and promises minimum errors. In addition, there is productivity, transparent communication, and guaranteed security.
5.3 What are the most important types of technology?
AI is the most crucial type of technology that is groundbreaking and promising in challenging times. AI & ML, combined, can create wonders for any organization.
"name": "What technologies are used in business?",
"text": "Businesses use technology depending on their operations and uses. But collaborative tools with implementation of IoT, AI, and other productivity tools are used in collaboration.
Every sector has its set of technologies to be used. So there are technologies for computers, software, networking, manufacturing systems, and more."
"name": "Why should businesses use technology?",
"text": "Businesses should use technology to accelerate ROI and improve operations. Technology eases the day-to-day operations of the organization and promises minimum errors. In addition, there is productivity, transparent communication, and guaranteed security."
"name": "What are the most important types of technology?",
"text": "AI is the most crucial type of technology that is groundbreaking and promising in challenging times. AI & ML, combined, can create wonders for any organization."
Article | August 10, 2020