Prahladrai Dalmia Lions College of Commerce & Economics

• Information Technology (IT) during covid-19 •

Written By: Mr. Shubham Hegde (T.Y.B.Sc.I.T)

The COVID – 19 Pandemic has caused drastic changes in many industries, and the Information Technology (IT) industry is the major among them. The negative impacts during this situation are more compared to positive effects. The significant weaknesses the IT industry is facing now is due to the fall in the economy, as a lot of companies are forced to ask their employees to work from home (remotely) keeping in account of the public health concerns. Due to this, there is a massive loss in opportunity for many companies who have international dealers. For example, Apple Inc. is estimated to have at least a 10% fall in its shares because of the lack of availability of iPhones in the market. The parts that are required to build the iPhones are supposed to come from China, and it is facing a major lockdown.
The spread of this deadly virus has caused a lot of tech conferences to get cancelled, which could have been a great partnership opportunity for many companies to expand their horizons. A few of the meetings were shifted to teleconferences, but this won’t have the same reach, and the conference attendees will not be able to have the networking opportunity as they would be attending the actual conference. Due to the cancellation of these major tech conferences, there is an estimated loss of US$ 1 Billion. Due to the coronavirus, a lot of opportunities opened up in the IT industry, such as the growing need for the 5th generation (5g). This will help increase connections that support the primed remote interactions. This has become the top priority for many organizations due to the pandemic. Telehealth is one of the developing industries in the crises. This could help people to get diagnosed, treated and operated with the need of a physician to be physically present. A lot of apps have been built in the past few months to help achieve this. There are many patients who are in self-quarantine who need medical supervision and medical assistance every day, and these applications could help them achieve that. There are a few threats too, such as after the pandemic is over what would happen to the IT sector? Many exporters in this industry feel that it will not be able to stabilize after the downfall, unlike the 2008 global economic and financial meltdown. Back then, the central banks helped to improve the stability of the market, but now even the central banks are helpless. Businesses around the world are relying on technology to ensure the safety of employees, expedite information distribution, and maintain continuity. In addition, governments have also invested in up-and-coming technology in the fight against COVID-19 pandemic.
Here’s more to it. Financial advisors, utility service providers, retailers, and others who relied on in-person communications, are among the most hit in this pandemic. However, many businesses escaped the slowdown. And much of the credit goes to digital readiness and technology change in business. Companies are adopting collaboration tools to support working from home and retailers are using contactless payment and delivery methods. With social distancing enforced, the use of drones for supplies is on the rise too.


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