Understanding the Impact of COVID-19 on the IT Industry

By - Mahima Kainthola

The outbreak of COVID-19 has affected a sizeable number of countries all around the world and forced organizations to adopt digital methods in facilitating work, as well as amplify the use of new-age technologies for better convenience. Several companies had to adopt remote working or work from home in order to oblige the government precautions of mass gathering. A number of predictable challenges are excepted regarding changes in working methods of companies. One such prediction is replacing long-distance travel for meeting with the use of video conferencing services like Zoom. Virtual collaboration environments – as well as a variety of unified technologies widely implemented within several companies to work in collaboration and share projects at once.

covid19 impact on IT industry

The change in habits of people and growing awareness of technologies and its beneficial applications are boosting the IT sector, the effects of which are already being witnessed worldwide. Our team of analysts has briefed below the impact of COVID-19 on the following IT sectors:

Cloud Computing: The Remote Working Facilitator

Cloud computing is one of the technologies that is making work from home a possibility. The world is witnessing a shift in ways businesses function, and its scope is not just limited to remote management of work. The significance of cloud IT solutions is mostly highlighted in companies that depend on cloud capabilities for their back-office work, and IT system needs. This has leveraged the awareness among businesses regarding the need to adopt cloud computing and its various advantages that create a resilient system. This trend is expected to boost the cloud computing sector in both the short-and-medium-term.

5G: Taking a Step Back

Earlier this year, it was estimated by Omdia 5G Practice Leader Dario Talmesio, that 2020 would be the year that brings in dividends for the 5G sector. But the current circumstances have turned the depiction entirely, and the sector now expects to witness a slowdown, thanks to the shift in priority towards network strains and security. In the mobile industry, 5G is projected to be hit the hardest, with the slowdown faced by the global supply chain that will delay the availability of crucial parts and equipment needed by companies working in the sector.

Robots and Apple Devices

The current situation in China suggests that the deployment of 5G has increased substantially since the pandemic’s effect has been contained in the country. In Wuhan, a hospital had set up 5G-enabled robots to reduce the time medical personnel spent while taking care of patients. Another attribute that can help to revive the sector could be the launch of Apple’s flagship devices that are built to operate on 5G. New applications in healthcare, such as remote monitoring of patients, will also help to increase the priority towards 5G.

AI: Intelligence to Beat the Virus Today, and Business Issues Tomorrow

AI is playing the role of a catalyst in finding solutions to beat the virus. With the application of AI techniques, data is being mined to derive possible solutions on curbing the COVID-19 spread and beat the pandemic. The use of virtual healthcare assistance in the form of chatbots and providing diagnostic assistance through medical data analysis and fever detection AI has made healthcare more efficient to face global crises. Several companies are using AI-based algorithms and other such applications to analyze information from varied sources and track more than a hundred infectious diseases.

Eliminating Fees

Datarobot is offering its software that is used for deployment, monitoring, and management of AI models, free of cost. Following the same league, NVIDIA is providing a 90-day license for its software Parabrics, which enables the use of AI for genomics purposes. Also, the University of Waterloo’s VIP Lab and DarvinAI have collaborated to develop a convolutional neural network that detects COVID-19, called the COVID-Net, this open-source technology operated with the use of chest radiography.

3D Printing: The Answer to Supply Issues

The buzz around 3D printing has been positive amidst the global pandemic. Headlines on how 3D printing is helping save lives by printing valves for reanimation devices have been circulating on the web. In times of broken supply chain, 3D printing is making valves, masks, nasal swabs, and protective gearing available and cementing its place as a useful technology. Its usage for PPE has grown, thanks to the constant effort of 3D suppliers and large manufacturers. Several start-ups are trying their hands on developing products that will assist during the pandemic. For instance, a 3D printing start-up based in Mumbai name Boson Machines, collaborated with Dr. Parikh, an alumnus of Jaslok Hospital. With the 3D printing technology, Boson Machines supplied nearly 5,000 face shields to Mumbai hospitals for the use of doctors and nurses. The Municipal Corporation of Mumbai has also backed the project, and soon, a bigger factory for Boson Machines may open where more machines and labor could operate.

Sourcing of materials is now set to be more complicated than before, and in such times 3D printing is helping in maintaining the continuity in production, which is a spurt in demand. In addition, its cost and time-saving ability, logistic viability and ease of customization ensure the opportunities to the sector.

Printing Valves to Save Lives

A hospital in Brescia, Italy, which is one of the hardest-hit cities with Coronavirus, urgently needed valves for an intensive care device and was unable to procure it from the suppliers. The hospital reached out to Issinova, a 3D printing company, who redesigned and printed the missing pieces desperately needed by the hospital, which in turn, helped save many lives.

Thus it can be said,

IT technologies have helped organizations around the globe to stay productive in the face of this global pandemic. People are adopting newer technologies and experiencing its benefits, which is paving the way for the high growth of the IT Industry.

Inkwood research has created in-depth reports taking into account the economic impact, as well as, the diversion of resources due to the global crises. These reports will equip you with global and regional data that will enable you to capitalize on the changes in the market. You can request a sample for the reports through the link mentioned below or access our website for more information.