Article | July 2, 2021
When things seem to be falling apart, something needs to hold them together. So in the Covid 19 pandemic, humanity faces its biggest challenges, and technology has come to its rescue. In every other way, technology has kept the world from falling apart.
In April 2020, 119 countries announced total lockdown bringing everything to a standstill. Around 1.57 billion students were impacted. They had to adapt themselves to remote learning. The brighter side to this was that the learning process did not stop. Thanks to the evolving technology, students learned remotely through digital classrooms.
This is the perfect example to portray that these tech trends in Covid are the hope in these challenging times.
Technology needs to be adapted to overcome the hurdles that businesses, learning institutions, remote working, logistics, and everyone faces.
There have been emerging tech trends in Covid 19 that have supported and accelerated businesses in all departments. The correct implementation of these tech trends in Covid 19 has granted companies the required boost.
Let us look at some of the tech trends in Covid-19 that have assured that the supply and demand management remains consistent and are here to stay for a long time.
Tech Trends in Covid 19 World
Artificial Intelligence was slowly making its way into the world, but the pandemic became its catalyst. As a result, a boost was predicted for the AI industry from 2020 to 2030. But due to the emerging demands, the growth shifted from a decade to a few months.
All the sectors implemented AI technologies in their industries. This may support remote working, keep the supply and demand chain seamless, or cater to patients in the hospitals. AI platforms include machine learning, chatbots, deep learning, behaviors technologies, and analytics. The cross combination of these transformative technologies can be implemented to provide solutions to the business.
77% of consumers use AI services directly or indirectly. Moreover, AI is the best tech trend in Covid 19 as it is available 24x7 and operates error-free.
Due to its efficiency, speed, and accuracy, AI is the future of all industries. The areas of retail, healthcare, telecommunication, banking, finance, insurance, government, and IT have seen comprehensive growth by implementing AI.
With the emergence of IoT, it is possible to think of an utterly digitized future. The Internet of Things has peaked wherein connection between devices is not limited to smartphones and computers.
By implementing IoT devices like lights, curtains, ACs, microwaves, etc, can be operated. A smart home is not a dream but a reality. A smart home is also affordable, thanks to the seamless connections of one device connected to all the smart appliances. IoT is playing a considerable role in the emergence of smart cities.
IoT is one of the tech trends in Covid 19, which has made the stay at home an easy task. From inbuilt technologies, functional software, voice tech growth to wearable technologies and safety monitoring, IoT ensures that remote working and remote staying are productive, entertaining, and secure.
It is estimated that there are 30.73 billion IoT devices in 2020, and their number is increasing tremendously to reach 70.45 billion in 2025.
Extended Reality (XR)
VR, AR, MR, and XR were the technologies that were highly anticipated to gain momentum in the coming years. But the increase of e-commerce in the pandemic fueled technological innovations.
E-commerce websites saw a boost in sales as more and more people started relying on online shopping for their daily needs. This led to the digitization of businesses. As a result, every business company wanted to sell its services uniquely and personalized.
This is where AR (Augmented Reality), VR (Virtual Reality), MR (Mixed Reality), and XR (Extended Reality) played their roles. These immersive digital technologies played a vital role in providing the customer’s new ways of shopping and interaction.
Customers can virtually sit in a car or visit a real estate property that they wish to buy. And for this, there is no necessity for stepping out of the house. Wearable technologies place you in a virtual world and access everything. For example, they put you on the field to play cricket and give you the natural feeling of playing on the ground while sitting on your sofa.
At workplaces, these tech trends in Covid 19 enable employees to hold a meeting together in a conference room even when they are in different parts of the world.
With so much happening online, security systems for transactions and financial data need ‘extra trust and care.’ Blockchain technology is a type of DLT (Distributed Ledger Technology) wherein transactions are duplicated and distributed across all the networks on the blockchain.
Blockchain technology makes it impossible to breach, change or cheat the data on the system. These data-driven technologies have made sectors like finance, healthcare, and online payments secure.
Bitcoin uses blockchain technology. Thus, this technology has given rise to digital currencies with limitations of the currency to be used, transferred, and stored.
This decentralized system revolutionizes the financial and healthcare market by providing the much-needed security for databases and transactions. In addition, these tech trends in Covid provide enhanced security, which is the need of the hour!
This tech trend is here to provide cutting-edge technology. For example, 5G connectivity is claimed to be five times faster than 4G. This technology brings forth an unimaginable experience for cloud services, IoT, mobile devices, and anything that requires the internet.
In 2019, 5G prices were high and in the pipeline for general usage. But due to the rise in remote working and collaborative technologies for efficient working, 5G is coming up with affordable plans.
5G has made it possible to convert the dream of smart cities to reality. The increased bandwidth will boost informational technologies, AI, IoT, etc., and confirm that they work efficiently in different geographical terrains.
Evolution Due to Technology Trends in Covid-19
These emerging technologies in Covid have brought complete changes in various sectors. Here are a few examples.
● The US and China are utilizing robots and drones for contactless deliveries. Soon this type of service will be prevalent globally.
● Technologies are constantly emerging to support remote work and hybrid work systems.
● VR, AR, MR are utilized to enhance online and distance learning.
● The healthcare sector is assisted by blockchain technology and chatbots for security and easy access.
● Despite theatres and stages being shut, there is no stop to entertainment. Online entertainment experiences are more enhancing.
● IoT, Big data, Blockchain, and other collaborative technologies build a flexible and reliable supply chain management system.
And so We Conclude
The pandemic is disastrous, but it bought forth the loopholes in the system. It has changed the thinking from “what if?” to “what now?”. It has made adapting to change a lot more easy and flexible. The companies that were adamant about changing and had the age-old processes had to update to tech trends in Covid for seamless functioning.
The pandemic should never have occurred, but now that it did, the human race knows that being updated is the necessity of the hour. Furthermore, it has taught us that change is the only permanent thing, and you need to be future-ready by accepting the change.
Frequently Asked Questions
How is technology changing the world during Covid-19?
Technology is evolving rapidly in the Covid-19 phase. This evolution has caused the world to change with it. Robots are delivering goods, and remote working is successful among employees and employers. Technology has changed the world to look beyond the traditional ways and adapt to the new ones, which involve adapting to agility and precision.
How the use of technology is creating business value?
The use of technology guarantees convenience, speed, and personalization. The businesses that adapted digitalization sustained the Covid period better than others. Technology is helping create business values through increased sales, improved customer efficiency, streamlined processes, meeting changing expectations and demands, and gaining profits.
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"text": "Technology is evolving rapidly in the Covid-19 phase. This evolution has caused the world to change with it. Robots are delivering goods, and remote working is successful among employees and employers. Technology has changed the world to look beyond the traditional ways and adapt to the new ones, which involve adapting to agility and precision."
"name": "How the use of technology is creating business value?",
"text": "The use of technology guarantees convenience, speed, and personalization. The businesses that adapted digitalization sustained the Covid period better than others. Technology is helping create business values through increased sales, improved customer efficiency, streamlined processes, meeting changing expectations and demands, and gaining profits."
Article | July 2, 2021
As the coronavirus (COVID-19) outbreak continues to impact the world at large, it magnifies the need to support our closest communities. At Kira Systems, the legal, professional services and corporate customer communities that we work with every day are dealing with profound changes and challenges. Termination and breach clauses are now top of mind, as a significant portion of the world’s businesses need to determine what contracts may be terminated to reduce spend. This issue alone is creating significant workload increases for legal teams and additional pressure to find efficient, scalable ways to work through them.
Article | July 2, 2021
When you work with data, the most prominent challenge is picking the right manner to represent data in a readable format. With proper visualization, it becomes easier to convey the message present in the analyzed data. The best choice, in this case, is to use Data Visualization.
By definition, data visualization is the graphical representation of the data and information. Using elements like maps, charts, graphs, etc. gives an easier view to understanding the patterns, trends, outliers, and performance.
Combination Chart or C3 is based on D3 and provides reusable chart libraries for applications. C3 offers a class to each element to help in defining a custom style that can later extend structure from D3. One of the major benefits of using C3js is that you can even update the rendered chart.
Similar to C3, ReCharts also uses D3 while expressing declarative components. Being lightweight and rendering on SVG elements, it helps in creating stunning charts. The library consists of some beautiful chart examples. Moreover, the charts here can also be customized according to needs. It is great for static charts but can lag with multiple animations. With an intuitive API, it becomes highly powerful and responsive.
Based on SVG JS library charts, Highcharts is quite popular among large organizations. Highcharts comes with the entire ecosystem for various project templates. It is even compatible with old browsers. Even the non-developers can use it with ease because of its interactive chart editor. It is being used by popular brands like Microsoft.
Article | July 2, 2021
The main objective of demand planning is to help businesses prepare to meet future demand. The forecasts are largely based on historical, seasonal demand patterns, not current demand signals. In fact, the main driver for future forecasting is historic sales during the same time period in prior years. The inaccuracy of demand forecasts that are based on historical data alone has often resulted in gaps between past and present situations, which, in turn, create significant business challenges. For example, seasonal supply needs based on the events of previous years and on marketing trends can lead to overstocks and increased inventory costs, stock-outs and missed sales opportunities.