The pandemic was earth-shattering. Every business process we used changed in a matter of weeks. Now, almost a year and a half later, we will begin to see the changes affect significant trends that were already underway before March 2020 but now will be even more critical in the business world.
The pandemic has forced many businesses to accelerate changes they had already planned. In this change, a few emerging technologies stand out for their connections with the evolving business model.
These are the technologies that stand to have breakout growth in the post-COVID-19 world:
Financial Markets
Due to the pandemic, people are no longer spending everything they earn. The stock market has grown exponentially and stocks have increased in value and improved the dividends they pay out. Businesses are more transparent and investors savvier with their investment money. For example, the NRZ dividend has grown its services to investors and its dividend has increased an average of 36% per year. That may be enough for investors to eventually quit their jobs and simply live off of the investments they made today.
The Growth of AI
Over the next ten years, the AI industry will grow to about $15.8 trillion. Facial recognition, intelligent data processing, and speech recognition will be a new go-to tool used by consumers and businesses alike.
AI technology will be beneficial to online businesses that cater to consumers purchasing online. The number of people who work remotely will also increase. Hence, as the economy slowly begins to grow again, the application of artificial intelligence to keep information safe will continue to grow. AI will also help determine the new purchasing patterns and help businesses develop custom experiences for online consumers.
AI tools will continue to be used to understand patterns and connect computer systems and industries that need to rely on each other.
Cloud Technology
Despite the massive increase in workload, cloud technology has been able to thrive under the new situation. For example, Microsoft has reported more than a 700% increase in the use of cloud technology.
In the world after COVID-19, cloud technology will continue to grow through the connection it makes with apps. People working from home will need more cloud-based video conferencing apps and businesses will continue to use these new apps that have been so useful during these trying times.
Blockchain Technology
COVID-19 seems to have consumers scrambling to find a stable currency and place to invest their hard-earned cash. No longer are we a spending society. After COVID-19, people realize how important it is to invest their money and create resilient but connective networks. Blockchain and the stock market are growing and supporting world efforts to control the virus and improve the transparency of the way we do business.
Virtual Reality
The number of people using VR headsets has also increased, and the industry will continue to grow for consumers looking for entertainment and business people who need to travel but don’t want to leave the safety of their homes.
Businesses now use VR platforms to train employees to collaborate on projects and connect virtually. For example, scientists are currently collaborating on molecular design and virus research and potential treatments through VR in science and technology.
5G Network
Although there has been a lot of debate about the upcoming 5G and its potential health risks, experts acknowledge it as the future of communication and consider its cutting-edge technology for the mobile industry. This new technology is set to roll out from 2020 to 2030. It will give consumers super fast download and upload speeds and better connections through mobile devices.
These technologies are but a few ways that we have grown globally and adapted to situations like a global pandemic. These technologies have taken the world by storm and will continue to expand post-COVID-19.
Businesses small and large need to compete in a highly developed technological world that has become even more important now that people work from home, manage households, and shop from home. It is important that technology grows to support these very real needs.
