Times of crisis often force innovation and change. The COVID-19 pandemic is an excellent example. This caused a physical split and subsequently a digital explosion that made businesses prioritize flexibility and digital solutions as key initiatives.

In fact, IBM study found that as a result of the pandemic, 60% of organizations accelerated their investment in digital technologies and more than half (55%) constantly adjusted their organizational strategies. Today, the wave effects of the pandemic continue to affect inflation, the supply chain and the shrinking labor market, all of which are shaping the digital technologies in which businesses are investing now and in the future.

Technological misconceptions that business overcomes

In order to adapt and succeed in the changing market, companies had to overcome several misconceptions:

Misconception № 1:

Digital transformations take years to complete. According to 2020 McKinsey Global Studyexecutives said that in just the first few months of the pandemic and initial blockades, their companies have accelerated the digitalization of their customers, supply chain interactions and internal operations by three to four years.

Misconception № 2: It is impossible to activate the digitalization of remote labor. The pandemic showed that when employees had to move away completely, they proved their digital maturity by integrating technology into all areas of business with little technical oversight. Decision-making teams, IT and developers strategized digitalisation, but the workforce in all departments was responsible for adopting these changes, new tools and technologies at the level, revolutionizing operations through individual adaptability.

Misconception № 3:

The transition to digital is a one-time phenomenon. Digital transformation is an ongoing process that requires constant review and updating to keep up with trends and competition. Digital tools and technologies need to be improved and updated to meet the ever-changing needs of customers in a highly competitive market.

Misconception # 4: Digital payments are not secure. During the pandemic, the desire to reduce disease transmission changed our attitude towards money and banking. Consumers quickly adopted Google Pay, Apple Pay, Samsung Pay, and similar applications to prioritize fast, secure, and contactless payments, making digital wallets and sales systems the preferred means of financial exchange. New and risky cryptocurrencies and digital assets have also been of interest to both individuals and companies for secure digital exchange.

Technical progress that changed lives forever

Progress in digital connectivity is not possible without internet, broadband and Wi-Fi connections. The pandemic has dramatically increased internet usage, as blocking orders have increased dependence on technology for remote work, education and entertainment. ISPs had to respond quickly to keep up with unprecedented demand, avoid interruptions, and maintain quality and speed for streaming and video calls. Telecommunications organizations such as Verizon, Comcast and AT&T have responded to this evolving scenario by launching new initiatives such as unlimited data and cheap or free service plans for low-income consumers. Companies and individuals continue to invest in the expansion of broadband optical and wireless technologies and infrastructure to maintain quality connections.

When ordinary companies could no longer connect personally with their customers, many created their own digital platforms to engage meaningfully with customers. Business-specific platforms include fitness, online stock trading, entertainment, healthcare and therapy, and large-scale conferences.

Omnichannel trading has increased as businesses seek a multi-channel approach to sales that focuses on providing seamless shopping to customers, both in-store and online, whether directly through the company’s website or through a third-party vendor. Consumer businesses have improved their accessibility through sites such as InstacartGrubhub and Amazon or by shopping on social networks on Instagram or Facebook.

Technology has also changed the way we conduct business and education, with businesses and individuals relying on video software such as Zoom and Skype, as well as cloud technologies such as Microsoft Teams, Slack, Google Hangouts and Discord, which allow easy sharing of information and documents. or other joint materials.

Implications for business and society

Concert work and freelance work have become more common as people strive to continue working from home and specialize in their crafts and experience. Meanwhile, companies affected by the Great Resignation are seeking to take up positions abandoned during the pandemic.

The digital divide is widening as disadvantaged groups or those with limited resources who cannot afford to pay for the internet face exclusion. This digital divide is affecting social equality as technology becomes a necessity for access to basic resources such as health and education.

Concerns about online fraud and privacy are growing as users rely more and more on digital resources, some for the first time, and become targets for fraud, fraud, intrusions and security breaches. As digital fraud is likely to increase, organizations and governments need to implement complex security arrangements and protocols, along with extensive information campaigns such as Settlement of a Zoom class action
and subsequent privacy adjustments.

Digital transformation is not a one-time event

Digital transformation has become a reality for businesses in all industries. In a competitive and open market, it is more important than ever for digital transformation to become an ongoing strategic effort. The question is no longer “Must do we make digital decisions? “rather,”How? ” If nothing else, the pandemic demonstrates the ability to turn quickly in business and society as a whole.

https://www.informationweek.com/it-life/how-the-digital-ecosystem-boomed-during-the-pandemic-and-beyond

Previous articleMeta Cambria, Quest 3: What to expect from Meta’s next VR headphones
Next articleAcquiring skills to meet my ambitions with Simplilearn