Is the Tech Industry Set to Bounce Back After Falls?

Like every other business sector in the world, the technology industry has been significantly impacted by the emergence of COVID, leading to profits decreasing and production severely disrupted. However, things are starting to look up again for the tech industry. In fact, a new report has announced that 3495 tech roles were advertised in the UK in September 2020, which is nearly as many job listings as there were pre-pandemic. All in all, it looks as though technology will bounce back after its fall. But why exactly is this industry succeeding whilst others fail? Let’s find out.

Staying Connected

The main impact that coronavirus has had on society is keeping humans separate from one another. Technology has been the one way to keep everyone connected – without it, we wouldn’t have been able to see our loved ones for months. Video conferencing software like Zoom has been particularly useful during this pandemic. What’s more, technology has facilitated things like remote working and distance learning. Despite people not being able to attend school or the office, we can still deliver online lessons and use task management systems, keeping the ball rolling for productivity.

Supply Chains

The pandemic caused massive disruptions in supply chains across the world. This is because manufacturers were trying to contend with social distancing and preventing outbreaks, resulting in thousands of factories shutting down. With consumer needs being higher than before for things like food and PPE, this was hugely problematic. Fortunately, technology helped us overcome these barriers in the supply chains. For instance, applied robotics meant we could rely less on human factory workers, whilst cloud computing and big data analytics were useful in kickstarting the efficiency of manufacturers once more.

Global Healthcare

It should come as no surprise that during a global pandemic, healthcare has been of the highest priority. Fortunately, hospitals have been able to sufficiently manage the upsurge of demand for their services thanks to various technological solutions. For instance, telehealth has become increasingly popular during the pandemic. Doctors have utilised online tools to deliver their appointments with patients. Meanwhile, artificial intelligence is being deployed to fast-track the drug development of a vaccine. Tej Kohli, chairman and CEO of Kohli Ventures, has recently invested millions in AI to create new solutions for global health needs, and is only one of many philanthropic organisations investing in health care.

Online Entertainment

During lockdown, all entertainment facilities were forced to close, like the cinemas, music stadiums, arcades, and so on. People couldn’t rely on seeing their friends for fun, either. This meant there was a massive spike in demand for online entertainment. Thankfully, technology was able to deliver. From streaming platforms and multiplayer games to better internet connections and virtual museum tours, technology ensured we weren’t bored during our time in lockdown. As entertainment facilities aren’t going to properly reopen anytime soon, it appears we’ll be relying on online solutions for quite a while.

Now we are entering a world where social-distancing and lockdowns are normal, technology is crucial. As such, the tech industry is certainly set to bounce back after initially being impacted by the pandemic.

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