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BW Businessworld

Acceleration In Digitization Due To COVID-19 And The Growth Hereafter

With the rapid technology adoption, neo cultures such as remote work, telehealth, and distance learning have transcended from being temporary measures to almost permanent solutions. Let’s look at the transition of each of them in detail.

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The COVID-19 pandemic has accelerated the rate of technology adoption. As companies across the world continued to leverage technology to maintain business continuity, there also emerged a strong need for services that can enable this rapid digitization. In this regard, organizations had to strap up their offerings. In fact, many of them leveraged the use of emerging technologies like AI/ML to serve their customers better. In a global study conducted by PwC India, the highest increase in the use of artificial intelligence (AI) during COVID-19 times has been witnessed in India. 

With this rapid technology adoption, neo cultures such as remote work, telehealth, and distance learning have transcended from being temporary measures to almost permanent solutions. Let’s look at the transition of each of them in detail.

Remote work

Remote working is one of the most disruptive organizational shifts of our times. It has enabled a culture of convenience, uncompromised productivity and an employee-friendly structure. An outcome of this rapid shift is that companies are now more reliant on technology than ever, and this model is here to stay. As reported by Gartner, IT spending related to WFH will total $332.9 billion in 2021, showing an increase of 4.9% from 2020. 

The core of a successful strategy for empowering work anywhere is comprised of three pillars: communication, collaboration, and security. Organizations, therefore, are making investments to deploy efficient PCs, secure VPN networks, and virtual collaborative spaces. Moreover, they are actively working towards building a virtual workspace as they envision remote work to be the primary way of working in the future. 

Telehealth 

Telehealth in India has changed the ways Indians seek professional medical advice. What expanded as a pandemic-induced shift has now solidified itself as a convenient, fast and quality solution to a wide range of medical needs. Healthcare providers are searching for new and better ways of delivering healthcare in the form of teleconsultation, telepathology, teleradiology and e–pharmacy. 

As the world continues to battle the prospect of a possible third wave, remote-consultation and virtual visits are only expected to increase.  According to an EY-IPA study, the domestic telemedicine market is expected to grow at a CAGR of 31% and reach USD 5.5 billion by 2025. As further pointed out by the study, India's e-pharmacy market is projected to reach 10-12% of the overall pharmaceutical sales. Responding to the growth curve, the Union Health Ministry of India rolled out the eSanjeevani scheme which serves around 40,000 patients daily across the country with its contactless and risk-free modality of healthcare services.

Distance learning

The pandemic created a new path for schools to solve a multitude of distance learning challenges, including how to deliver a high-stake proctored assessment. As a result, they embraced the use of technology to ensure that learning doesn’t stop. Schools, academies, colleges, and universities quickly digitized content and educators learned new skills and engagement strategies to support students. In addition to this, many young professionals are also signing up for online courses in order to upskill themselves for a job market that now mandates digital literacy. These factors in combination have expanded the scope of distance learning. 

With an addressable market worth $700-800 million, the online education sector is expected to become $30 billion in size in the next 10 years, according to a recent study. As these figures suggest, the online education market is brimming with opportunities at the center of which lies the consumer who is now more than ever ready and willing to make the most of this tech-enabled knowledge ecosystem.

As we continue to navigate the new normal, technology will play a critical role in driving business growth for companies across sectors. Emerging technologies like AI, ML, Cloud will play a central role in creating more agile and efficient operations. Moreover, threat protection and endpoint security will be paramount in the era of digital transformation. Will see more organizations, hospitals, schools adopt the concept of Zero Trust Network Access (ZTNA) which determines if a user or device is suspicious by looking at several factors, including the user, device, network, and access request at a particular moment in time.
 
 




 

Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house. Unless otherwise noted, the author is writing in his/her personal capacity. They are not intended and should not be thought to represent official ideas, attitudes, or policies of any agency or institution.


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Prakash Maharaj

The Author is the regional sales manager for JAMF

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