Is Coronavirus the Last Alarm for Digitalization? – Bojan Dimov

The global crises caused by the COVID-19 pandemic has geared many companies and individuals to embrace the digital world. At the moment, there is a strong need for the development of digitalization in many economies today.

However, the digital landscape has evolved since the 2008/09 global financial crises that subjected the whole world to a halt. The gradual change to a digital world has worked for the majority, but not all equally.

The COVID-19 crises, in just a few months, halted many business operations. But it has also pushed us to acknowledge digital solutions and services, thus accelerating the global transition towards a digital world.

Additionally, the recent pandemic has also revealed the wide chasm between developed and undeveloped countries, exposing how backward many are in terms of digitization. The disparities in digital preparedness still hinder many economies to leverage digitalized tools that could help us manage the present pandemic by staying at home.

The Need for Digitalization Revealed

Technology is now a critical tool to maintain life amidst the coronavirus crises. Measures to also contain the pandemic have pushed the operation of businesses and economies online. The need for digitalization is now vital. Hence, we can say that digitalization has found a new meaning. It is the lever to success, and it has come to stay.

Just like in the past, humans will always find a way to counter crises like this, but the new World is not going be the way it was anymore – daily business operations and relationships that involve emotions will change, thus paving the way for digital relationships.

Even though Coronavirus has created ruckus in our daily lives, it can also change our business model, work operations, and journey towards a digital transformation for the future.

Digitalization is a journey that involves embracing more technologies, innovations, and discoveries globally, but the concept of a complete digitalized world is still far from certainty.

Besides the fact that physical goods need to be moved from one place to another, all other underlying work operations will need to be digitized to avoid human-to-human contacts. Drones and robots with sensors can also be used to move and deliver goods. For heavier machinery that needs to be delivered, contactless digitized mechanisms can also be used.

Furthermore, while large offices are likely to decrease as a result of digitalization, with contactless digital environments with tech tools and services offered at home for employees, there will be fewer cars on the streets and a big reduction in air pollution which could salvage our environmental problems that have long-existed.

A complete global digitalization creates value, productivity, and innovation. The process for a digital change is complicated and it needs resources. To make sure companies and businesses achieve their digital goals, the need for good governance is necessary all through the journey.

A Development Prospect?

Technology is now a vital pivot to maintain business and life continuity during the coronavirus pandemic. Digitalization is now allowing teleworking and telemedicine. Additionally, there has been an increase in teleworking, enlarging the need for online conferencing tools such as Skype, Cisco, Zoom, Microsoft Teams, etc.

According to Microsoft, the number of individuals that use its tool for online conferencing nearly reached 40 percent in a week. Because of this, many companies and individuals are beginning to acknowledge digitalization.

Additionally, there are no doubts that coronavirus will trigger a demand for innovations in different economic sectors. Business and company models that are digital are triumphing and circumnavigating the current disruption, while others that lack digital quotients are struggling to be relevant, and may cease to exist after the pandemic is over.

Information Technology Industry got itself in a vantage position and it is also benefiting from the change.

With all these in mind, more attention should be given to digitalization globally. Also, new policies need to be enforced to ensure a fair circulation of the gains from digital disruptions.

There is a popular saying that goes like this: “necessity is the mother of invention.” Coronavirus pandemic produced a digital change that was proceeding at a very slow pace. Acknowledging the essence of digitalization early is necessary to survive in today’s world.

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