![]() It’s present in home appliances, on phones, in hospitals, agriculture, military, government, and the list goes on. People are exposed to artificial intelligence on a daily basis, a testament to its wide range of applications. The answer is that from the first AI program in the 1950s, it has since found application in every facet of human activity and industry, from consumer to industrial hardware and software. How is a projection of value contribution so massive? Straight from the pandemic and into 2030, artificial intelligence is projected to contribute $15.7 trillion to the global economy, representing 26% of global GDP for the same period (World Economic Forum, 2020). Finally, IDC predicts that 70% of all organizations will have accelerated use of digital technologies in areas of business resiliency, employee productivity, and customer engagement. The result is that even with the pandemic, direct digital transformation (DX) is on target to reach $6.8 trillion by 2023, at a healthy CAGR of 15.5% from 2020 to 2023 (IDC, 2020). In order to keep up with the pandemic, organizations had to shift funds from other initiatives and invest those in crucial digitalization campaigns. While it’s still an open question how Zoom’s fate will pan out post-pandemic, there is no strong reason to assume that it is not ready for the opening of the global economy. Around February 2021, it was trading at $361 for a gain of 531%. In 2019 when Zoom went public, it traded at $68 around January. In the end, it did manage well to handle the upsurge in clients. It is not every day that we can hear a company bemoan the sudden deluge of customers, but Zoom gave us that opportunity for posterity. The massive explosion of users created substantial logistical problems for the company. At around April, that number had swelled to 300 million (Engadget, 2020). Perhaps nothing better encapsulates the onrush of digital transformation activities during the pandemic than what happened at Zoom during the episode.Īt the end of December 2019, the maximum number of daily meeting participants on its platforms, both free and paid, stood at around 10 million. ![]() The ones that chose the former had to plunge ahead, installing Zoom, Slack, Microsoft Teams, and others to facilitate communications and manage work at home. When lockdowns sent workers to their homes, organizations were forced to shape up quickly or shut down. ![]() In many cases, it meant prioritizing specific processes and functions. ![]() However, they were deploying it at their own pace. It’s not that industries were ignoring digital transformation before the pandemic. To answer that, we’ve updated our IT trends and predictions to give you a clear picture of how the whole pandemic will impact these industries in the short and long term. While industries coped with the pandemic with varying degrees of success, the agreed solution is to speed up digital transformation, which encompasses all the core information technologies. Then the pandemic struck, creating a whirlwind affair of lockdowns, quarantines, social distancing rules, and strict sanitation guidelines. Months before 2020, leaders of these industries were looking to present their report portfolios and their visions for the future ahead. Combining for a global market value of $5 trillion by 2021, these industries account for the bulk of the world’s economic output (Statista, 2020).
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