The pandemic has reshaped the technological world leaving some big winners and losers in its wake
Picture used for illustrative purpose only.
Many tools and technologies which suddenly popped up during COVID-19 pandemic were being used in home streaming during the world lockdown, and the world still remains heavily dependent on those tools, even after the gradual opening for business and economic activities.
Some of the big tech companies were in the right place at the right time in full COVID-19 lockdown, while others have seen the real-world trade they rely on, shut down completely.
Top winners:
Video-conferencing platforms: Video conferencing programmes and platforms technologies have become the fastest and safest solution to curb the spread of COVID-19 epidemic. Where schools, universities, companies, and governments have relied heavily on these technologies and tools.
The pandemic is also likely to accelerate digital transformations and investments in new technology as those companies that do not have this as part of their strategy are likely to suffer competitively. This is not just in terms of productivity efficiencies, but also in enterprises getting closer to their customers through insights and analytics to generate growth. We are also likely to see an acceleration in the adoption of artificial intelligence, analytics, customer behaviour services, video conferencing and distributed workflow.
Media and content: Global demands of content and Video on Demand (VOD) services have increased due to COVID-19 global lockdown, where the main content streaming players gained billions of dollars.
For instance, streaming websites such as YouTube, Netflix, and increasingly DIY video website TikTok have seen a huge rise in usage in recent weeks, likely because more people are at home finding new ways to keep busy and entertained.
As millions of people go online for entertainment and more, total internet hits have surged by 50% and 70%, according to preliminary statistics. Streaming has also jumped by at least 12%, estimates show.
Video gaming providers: The video gaming industry has seen a huge growth this year, as hundreds of millions of people have been forced to work and stay at home due to spread of COVID-19.
The gaming world has seen sales hit records in the last few months with millions of people turning to their entertainment and gaming services.
Industry giants ranging from Microsoft to Steam have all reported major increases in user numbers, with US video game sales hitting the highest level in over a decade in March.
AI and Smart Manufacturers: As COVID-19 has spread, the world has relied on many technological tools, solutions and artificial intelligence in different sectors: health care, education, laboratories, hospitals, shopping malls, even in monitoring of streets, airports, and cities during the lockdown.
Artificial intelligence has been immensely valuable in helping governments, companies and people adapt to COVID-19 daily issues. For instance, the advanced robots have handled operation of factories and other facilities, in more locations and with little added cost, even monitoring streets during the lockdown.
Top losers:
Tech middlemen Companies: Middleman companies are working as providers that facilitate the business relationship between a buyer and a seller, such as Yelp and AirBnB
For example, AirBnB relies on people paying fees when they stay with ordinary people. But the company dismissed a quarter of its staff, about 1,900 people. Also, Yelp company has cut a third of its workforce, just a few weeks into the crisis, after restaurants and bars shut their doors.
Advertising industry technologies: The COVID-19 pandemic has hit the global advertising industry, as the big advertising players have slashed marketing budgets amid deteriorating economic conditions. Advertising industry has faced many problems after a huge nosedive in global consumer spending, and the cancellation of many events and conferences all over the world.
