Looking back as the curtains fall for 2020, we can only say this has been one challenging year. So much that the TIME’s December 14th cover crosses out the bane of the year that is 2020 itself with a red “X”. However, there is some good in all this, nature is thriving, humanity is still alive, OTT platforms have soared, and remote work is the new normal; although I am not sure if every call still needs to be a video call. Read along to find out how a pandemic could achieve something in a matter of months what years convincing could not.
Quantum leaps in Digital adoption
Who would have thought, a crisis such as a global pandemic could tip companies to go digital? Sometimes facts can be stranger than fiction. A survey from McKinsey & Company reveals a speedup in creating digital or digitally enhanced offerings these past few months. The results suggest a seven-year increase, on average, in the rate at which companies are developing these products and services. The leap is even greater, 10 years, in developed Asian countries. Investments in data security and artificial intelligence has also seen a significant rise. In general companies are investing and refocusing around digital technology for competitive edge. What previously weren’t a top business priority is being taking center stage.
It is to be noted that these crisis related changes are being made keeping long term in mind.
Acceleration in Cloud Adoption by several years
Enterprises are usually reluctant or skeptical about moving to the public cloud. Lac of real movement on part of customers about moving to the cloud is nothing new. However, surprisingly, there has been a surge in the number of queries we received where customers have gone from talking to having a real plan about cloud adoption. As such it’s no surprise when market-intelligence firm CB Insights reported that investors have spent nearly $3 billion on cloud-computing funding between April and June in 2020.
May be when we look back, cloud history will mention how a pandemic accelerated cloud adoption by several years.
Online health consultations increase by three times in India
As per a report published by the Telemedicine Society of India and Practo, the number of people opting for online health consultations have increased 3 folds in the pandemic (March 2020 and November 2020). Meanwhile, physical health appointments went down by 32 per cent during this period. This is a global trend, there has been a significant growth in telemedicine with the on-going lockdown restrictions. It’s good to see technology and people rising to the occasion to provide convenient, accessible, and safe healthcare to those in need. This sure will open doors to collaborations among stakeholders and advancements in the field of telemedicine in a post pandemic world.
In conclusion, it will not be wrong to say, with most offices being forced to go remote, organizations are realizing the need to speed up their strategy to become truly digital and be better prepared for the challenges of a post-pandemic world. A word of caution, don’t just digitalize your process, reimagine then go digital. It’s true no business is 100% resilient; however, those fortressed with digital data capabilities are found to be better.