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As we are all aware that, COVID-19 has created a global crisis across Countries, Industries, and all sections of people. We also agree that the situation is not going to become normal until we get a Vaccine. So the entire world needs to adapt to the "New Normal".
Technology is playing a key role in our day to day lives, a lot of innovation is happening in Industrial/Process Automation, Healthcare, Mobility, and other sectors. Especially during the crisis, a lot of new services and products are going to emerge to handle various problems and ease our life.
During 2008 recession period, lot of new startups founded/services started to address various challenges/ease our life. Some of successful companies are WhatsApp, Groupon, Uber, Slack etc., just to name few
A need or problem encourages creative efforts to meet the need or solve the problem. As we are all going through this crisis created by COVID-19, what technologies and services are we going to consider seriously in the current situation. Here are some of my thoughts :
Cloud usage is going to increase:
Most companies would shift their deployments to the Cloud, to better manage the current situation and also reduce cost/other headaches. As more and more people are doing WFH and also companies are seeing more "productivity" now, so Desktop as a Service would be used more. Amazon's Workspaces or other Virtual Desktop Services would capture this opportunity.
AI is going to be everywhere:
Artificial Intelligence(AI) technologies(Machine Learning, Deep Learning) are going to be used extensively everywhere. We are all seeing how AI is playing a crucial role in combating COVID-19. Scientists are using Deep Learning to crack the novel coronavirus genome. So, the overall usage of AI would be everywhere. So, acquiring these skills would give more opportunities for Analysts/Engineers/Scientists.
Over The Top (OTT) media service consumption and Content:
Especially in India, the primary way of entertainment is Cinema(Movie), that's the reason India has around 9600 screens to screen various movies(Hindi, Telugu, Tamil, etc.). But as part of "New Normal" emerged due to COVID-19, most of the people(especially people in Cities and Towns) are not going to visit theaters to watch movies, instead, they prefer OTT media services. So there is a huge opportunity for OTT players to capture the market in India with quality service, competitive pricing, and original content. Also, there would be a lot of new content directly released through the OTT/Web Series.
Increased Usage of Business/Robotic Process Automation(RPA):
Due to economic slowdown, most businesses would adapt to new ways to increase efficiency to meet their revenue targets and better customer service. Chatbots are helping to spread about Coronavirus and fight depression of people during Pandemic. Overall, companies like UIPath, Automation Anywhere, PEGA just to name a few, would surely benefit.
As WFH becoming a common practice especially in the IT industry and with COVID-19, most employees forced to do WFH. As per the recent updates from major companies, productivity is more now, hence even Post COVID-19, some of the major players are willing to allow their employees(certain %) to continue to do WFH. so with increased WFH and Online education, current bandwidth(both Broadband and Telecom internet providers) and quality of service need to be proper. Also, the availability of the 5G network needs to be early to handle the demand/expectations. Hence, service providers need to scale their infrastructure and also improve customer support.
The surge in eCommerce:
As the majority of people are not going to visit any physical stores for shopping/eating/entertainment even after lock-down ends. The majority of us worried about infection. Hence most of our essentials like Groceries, Food, Clothes, and other household materials would be availed through online services and gets delivered at our doorstep. More and more services go online going forward, but the major challenges are, cybersecurity and the quality of goods delivered. From the past 50 days, I personally not went outside from my community/home, and everything is phone call/WhatsApp message away. Even Kirana shop(small Grocery shop) near your road corner would allow orders through WhatsApp or they are going to use some of the eCommerce platforms to serve their customer in their locality. Even in the USA, in April 2020, eCommerce sales increased by 49%(majority groceries)
Contactless Payments are going to adapt widely:
Though its already adopted by most of the people, due to COVID-19 precautionary measures, more and more people are going to use these services. Services like PayTM, PhonePe, Google Pay, Apple Pay, NFC based card payments, etc.
Health Apps usage would be higher:
As people looking for more and more safety kits, procedures, best practices to make themselves fit and immune, so this is a great opportunity for innovators/startups to come-up with better services/apps to handle this. We are going to see a lot of new products for quick testing of various infections on our own(self-testing) similar to the pregnancy test kit. Even after COVID-19, we are going to see some other viruses attaching human. Due to globalization, people tend to travel everywhere, so there would be a demand for these kinds of instant test kits to test either for a specific infection or multiple infections by a single device/kit. These are going to be widely followed/imposed by Airlines, Tourist centers, Big tech symposiums, etc.
Demand for Cyber Security Services is higher:
As per a recent research report, cyber attacks got increased by around 86% during the lock-down period, hence we could imagine the demand for professionals in this domain. The problem with most Indian professionals is, people always look for certification, and once certified people think that they would get the job easily. Certifications are going to help some extent(even some of the companies are not trusting these certificates/scores), but hands-on practical experience matters a lot.
So, overall, this is an unprecedented crisis for humanity, and as usual, we are going to see a lot of new services and innovations emerging during(or after) this Pandemic.
Be Positive, Stay Safe, and Up-Skill / Re-Skill to cope-up with the current global situation.
Things change and they are never the same again. This looks like one, of those times, Hem. That's life! Life moves on. And so should we.”― Spencer Johnson, Who Moved My Cheese