This year, the world was hit with a pandemic. It’s been rough across all businesses and the only way forward is through adaptation of technologies. Here at Salt, we believe that technology and digitalization is the future. With businesses back in gear to recover from the pandemic that affected us, what exactly is the way forward?
In this blog, we will cover some of the technology trends that spiked in popularity since the pandemic and how businesses are utilizing them to ensure recovery and sustainability in their business.
Hello boss, I am working from home today
As we all know, Covid has disrupted the way we do our work. This year, we were all stuck at home for a solid 3 months (in Malaysia at least!) which led to the norm of working from home. Around half of the businesses in Malaysia are either extending their WFH until early next year or are working from home/office on a rotational basis. This led to a huge demand in remote-working solution that would be the driving factor of businesses post Covid-19. Due to this, businesses are investing in solutions such as cloud-based databases, virtual meeting solutions, HR Technology, FinTech and others to ensure that employees can have access to all the things they were able to before, straight from the comfort of your homes. HR professionals are able to process payroll or even track performance and productivity through HR Technology and sales experts are able to conduct meetings and presentations via Zoom or Microsoft Teams. This is all to ensure convenience, efficiency and sustainability.
5G and Internet of Things…again
5G and IoT are not new. We all know 5G is here and IoT has been something that’s been thrown around for the last couple of years. But how is it any different now? With high demand in remote access, IoT allows things like manufacturing and supply chain to continue operations. Thermal scanning has been one of the demands in IoT with the rise of scanners being implemented across retail, residential areas, schools and offices. Most manufacturing organizations can even operate their entire production cycle straight via remote access.
Data and Analytics, our hero
Now, this is important. I believe businesses that do not invest in data and analytics in 2020, most probably won’t survive in 2021. Data and analytics have been the way forward since people started talking about IR4.0 but Covid-19 exponentially continues to increase that demand. Companies like SAS created Covid-19 dashboard that complied data from plethora of sources to assist governments and businesses to make life saving decisions. Analytics used for contact tracing is crucial to us as it allows decisions to be made around health and strategic business initiatives.
SkyNet is not here but it kinda is
When we talk about the movie Terminator, we think of futuristic Artificial Intelligence (AI) that would come back in time to wipe the entire existence of humanity. But let’s not get carried away with science fiction (I’m sorry!). By now, we know how crucial data and analytics are but there is no point to having data if we don’t have technologies to analyze it. This is where AI and ML come into play. The demand in AI and ML have increased as businesses rely on technologies to gain insights on their data. As shared by Daniel Newman, Principal Analyst of Futurum Research and CEO of Broadsuite Media Group;
“The value of AI and machine learning to data analytics can be distilled into three separate value propositions: speed, scale, and convenience.”
In conclusion, there are plenty more trends that are on the rise due to the Covid-19 pandemic but in this blog, I would like to target the big technology trends that companies should be investing to ensure survivability. Investments come with a price and it’s usually a big one but the whole idea of these trends is to ensure a small price is paid for efficiency and continuity of business processes. And surviving this situation would also mean that everyone gets to keep their jobs! So, the question you should be asking isn’t “How do we recover from the losses due to Covid-19?” but more about “How do we survive this and ensure everyone is retained?”.
If you would like to have a more in depth conversation around technology trends or even trends in hiring, feel free to reach out to Shalini (email@example.com) or myself (firstname.lastname@example.org) and we would be more than happy to arrange a meet or phone call.