How COVID – 19 Could Be An accelerant To Digital Transformation
Over the past few months, the world has slowly come to a standstill. As the COVID -19 pandemic continues to rage on, it has brought every significant world power to its knees, changed lives, and the world as we know it for good. With many major countries under partial or complete lockdown and social distancing the need of the hour, businesses have taken massive hits, some running the risk of going bankrupt. The world economy is crashing at an unprecedented rate, and the only companies that would make it out of this even barely functional are the ones that are willing to step up their game and change their model overall.
COVID – 19: Worst Affected Sectors
- Travel and Tourism
From aviation to hospitality, over the course of months, many major players have taken severe hits. People are forced to stay indoors, which has rendered many hotels, restaurants, recreation, and amusement parks indefinitely closed with the businesses risking going bankrupt and mass unemployment looming on the horizon.
- Education and Service
Schools, colleges, universities have been forced to shut down in the face of this crisis, with all examinations being canceled. To bridge the gap, many institutions are turning to virtual learning solutions. Most companies have offered work from home facilities to its employees in compliance with the social distancing norm.
- Health and Wellness
Everything from gymnasiums to playgrounds has shut down to curb the spread of the virus. As a result, fitness freaks have formed online support groups on several digital platforms, sharing home workout videos, tips, healthy recipes, etc. to get through this time.
- Recreation and Entertainment
Film theatres have shut down, and employees are losing jobs by the number. Also, production work across all channels has been postponed, except for news and information media. This has led to a rise in Netflix and other digital subscriptions.
