This article explores how the Coronavirus COVID-19 worldwide pandemic will impact technology? It looks at changes to how hardware and software products are developed, launched, and sold as well as security. The conclusion is that there will be losers as well as winners. We are now at a technology breakpoint, and things will never go back to “normal.”
Have you ever wondered how life will be different after Coronavirus? Read on to see how the worldwide pandemic is going to change technology and touch you too.
COVID 19: A Deadly Game Changer
The current Coronavirus COVID-19 pandemic will change our lives forever. As well as affecting us personally, it will affect the whole technology industry, though – as well will see – not always necessarily in a terrible way. The world is not coming to an end. There are different strategies technology companies will use to deal with the pandemic. In the current pandemic and life afterward, information technology is going to be essential.
Read on to find out why and how technology will change, and so your life will change too.
How Product Development will change
Do you know that cool tech you are looking forward to seeing? Well, it might be a little late. Or it might even get canned because some products and maybe even some companies (including some big ones) will downsize or die due to the current crisis.
It’s not all bad, though, because technology manufacturers of Software products may experience limited impact. It’s already usual to have developer teams who sometimes (or permanently) work remotely, if they no longer need to commute. So, in theory, they have extra time to sit at home in their socks, drinking coffee but working (of course pets and kids are going to get some spare time with mom and dad too).
So there will initially be some adjustment and disruption, but it should all settle down. Security will remain vital to prevent IP from being stolen.
The younger age of most software developers means it’s less likely many be severely hit. That said, some key workers might be out of action. Which, of course, means that remote working technology will be accessible. It’s possible after the pandemic ends that remote information technology will boom.
Upcoming Tech Releases of Hardware
Hardware products are a more mixed story – for example, reports are mixed about Apple’s latest iPhone developments. Forbes Magazine is, for instance, at odds with TechRadar. If you are an Apple fan, maybe the rollout will still be OK. You can pay to see Tim Cook’s team of turtlenecked Californian’s latest quest for world domination.
However, hardware developers often need to be in the place the hardware is being developed. That is because of security but also for practical reasons – like dude, where’s that screwdriver I left?. Added to that, lockdowns worldwide disrupt component supply. Production and distribution will get hit too. So, overall, technology news for hardware is currently mixed or bad. Hardware will, of course, recover in time. There is always a demand for fresh new technology. You and I will still want it, and if we have the money, we will pay. Remember the banking crisis? Did that stop people buy newly emerging smartphones or tablet computers? Not a bit of it.
How Products will get Launched
Some products will get release-delayed launches. Those products still launching are likely to be launched online, according to the New York Times. That’s terrible news for the taxi drivers in Vegas, of course. Information Technology will be king in launching products. There is no sign of physical trade shows or start events being practical, maybe for the rest of this year.
Once the pandemic is over, marketing departments might realize that there are ways to launch products without the massive costs of shows like CEX or Mobile World Congress. So, don’t book that trip to Vegas or Barcelona next year just yet.
How Products will be Bought and used by Consumers
Retail closures will drive even more business in online shopping. Amazon is going to have a great year. Jeff Bezos doesn’t need more money, but – what the heck?
However, lots of people are suddenly not working. They might not want to risk making a purchase, and even for those working, current fears of a vast worldwide recession – much worse than the 2008 /2009 banking crisis, may make even consumers with money wary. They will feel a lack of financial security and that lack of security will make them reluctant to spend on non-essential items.
Against that, if people are working but not spending, they are building up cash, lots of money in some cases. That means, once the virus dies out (and it will), there will be a huge opportunity to profit from all that pent up consumer demand and the cash to back it up. Once the consumer’s feelings of security return, there could be a boom in spending. So, if you have got cabin fever, once things end, you might be in the mood to splash that cash.
Remote working and social distances might change attitudes too – because consumers might be more interested in new trends in future technology. If working from home or on the move increases, there are significant opportunities, like in wearable technology. One technique that will benefit is the 5G rollout. It is a critical enabling technology for wearable technology and remote working, shopping, socializing, and playing.
It’s also Christmas, Thanksgiving and Birthdays all rolled into one for Games Console manufacturers and games software vendors will do well. If you like Fortnite and other e-sports, expect to see more kids with very pale skin and bad hats walking away with huge prizes. It’s showtime for a sport to move into the virtual world.
People will be stuck at home, and a lot of TV sport and entertainment are being canceled.
Conclusion – the World after the Pandemic
The COVID-19 Pandemic is a unique event in our lifetimes. Nothing like it has happened for more than 100 years. The closest thing to it was Spanish Flu in 1918 – 1920. The results of that pandemic were mixed up in World War 1, so it’s hard to make an exact comparison. What we can learn from it is that there will be long-term losers but also winners. The dice are being rolled right now, and we don’t know the exact result, but we can see some dice look like they are loaded.
Take the Travel and Retail sector, which will be down or simply look different. Theatres, music venues, bars, and Cinemas might take a long time to recover. Technology that aids online working, shopping, and entertainment will be up. Healthcare technology should benefit, as people realize once again, that wealth without health is sometimes meaningless.
Author Biography
Thomas Glare is a former technology CEO who now runs Crossfire consulting. He specializes in business change management and company turnaround, for tech hardware and software companies and internet-based business, including work in online betting. You can see a typical profile of his work at a mobile app development project recently.
