Technology & Innovation

Needless to say, the Covid-10 pandemic has disrupted many industries across the globe. It has also reshaped the way we work and educate ourselves and the way we communicate and socialize. At the same time, the ongoing Covid-19 pandemic has paved the way for a major global digital transformation in the workplace. After countries enforced a series of restrictions to protect everyone’s wellbeing, there was a major increase in individuals working from their homes. Studies conducted on remote work statistics, including this one from FindStack, show that sixteen percent of companies operating across the globe are 100% remote. According to the same report, around 44% of companies in the world do not or cannot allow remote work due to their line of business. Around 77% of workers who were forced to leave offices and work from home say they feel more productive when working remotely. Around 85% of company managers strongly believe that remote work will eventually transform into the new working norm. In the last twelve years, the number of individuals working from their home offices has increased by almost 160%. Digital Transformation and Adoption During the Pandemic Now, we are living in a rather interesting, unusual time, in a time where the ongoing coronavirus pandemic reshapes and revolutionizes the way of working. The pandemic has already transformed the present and the future of business. Companies and businesses involved in many different sectors across the globe have jumped on the greater digital transformation and adoption bandwagon. Many companies and businesses that were not focused on digitalization before the pandemic transformed their business operations to meet the needs of their employees and customers. The move from working from offices to working remotely has been rather abrupt, but at the same time vital for companies and businesses that wanted to survive through the pandemic. At the beginning of the pandemic, we saw a major rise in the popularity of video conferencing that allowed companies and businesses to keep operating even though they shut down their offices and ordered their employees to work from their homes. Most global industries have been affected by the ongoing pandemic and many of them, have seen a rather instant digital transformation. Industries that are most impacted by the pandemic are restaurants, gas, and oil drilling. Similar trends can be seen in the leisure and manufacturing industries. Industries that were least impacted by the pandemic are the health insurance, multi-line insurance, and life insurance sectors according to this report by S & P Global Market Intelligence report. However, even those industries that were not overly impacted by the ongoing pandemic have embraced the power of digitalization, and by all accounts, the post-pandemic world will be digital. Digital Transformation Post-Pandemic Many years before the Covid-19 pandemic, amazing technological advancements had become one of the most crucial workforce components. During the pandemic, businesses and companies embraced digital transformation to survive through those extremely difficult times. Once the pandemic is over, digital transformation will definitely continue to thrive in many global industries. The pandemic has doubtlessly accelerated digital transformation and adoption, but the digital transformation will not stop once the pandemic is over. Businesses and companies involved in different industries will continue looking for new technologically-advanced options and services to boost their customer engagement, bring more flexibility to their workplace, boost automation, and of course, make production and distribution faster and more cost-effective. During the pandemic, companies and businesses were forced to look for new creative solutions to continue working. The same trends will continue post-pandemic as digital transformation is here to last fueled by machine learning and automation, more personal customer engagement and experience, the Internet of Things, and other technologies that guarantee greater operational performance.