The events of recent months associated with the coronavirus’s rapid spread have forced many people in business to change their priorities. Even local companies that used to traditionally provide offline services have tried to adapt their services to the new reality conditions. Despite the pandemic’s disastrous impact on the global economy, the virus may become more a plus than a minus for its digital component.
With the spread of COVID-19 in the world, more and more people work remotely using video conferencing services and instant messengers. Demand for software such as Microsoft Teams, Skype, Cisco’s Webex, and Zoom has increased. In China, the use of telecommuting services from WeChat, Tencent, and Ding rose significantly in late January 2020 when COVID-19 restrictions came into effect.
The use of online platforms drives the development of cloud technologies for storing and analyzing data, increasing the demand for renting such services from technology companies: Amazon Web Services, Microsoft, Tencent, and Alibaba (Dwivedi 10). The crisis also contributed to the transition of schools and universities to distance learning. Digital tools and online coaching enable teachers and educators to stay connected with students. The COVID-19 crisis has negatively impacted digital platforms, primarily in the areas of mobility and travel. This group includes transportation-related services: Uber, Lyft, Didi Chuxing, and rental services Airbnb, Booking.com (Dwivedi 11). This trend reflects the overall decline in the travel and tourism industries during the pandemic.
The accelerating pace of digitalization is helping to strengthen their position in the markets. The network benefit effect and their ability to track, extract, and analyze information have given these companies an edge. Subsequently, the obtained data can be transformed into digital knowledge and monetized in various ways. Changes in social behavior during the spread of COVID19 will have long-term consequences. Many organizations and users will be more active in using digital solutions to develop a particular habit during a crisis.
Work Cited
Dwivedi, Yogesh K., et al. “Impact of COVID-19 Pandemic on Information Management Research and Practice: Transforming Education, Work and Life.” International Journal of Information Management, vol. 55, 2020, pp. 1-25.