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Pandemic effects on businesses today vs 20 years ago | Open Minds

Pandemic effects on businesses today vs 20 years ago

Humans have thrived and have become technology-driven majorly in the past few years. Everything is now available at our finger-tips. With just one click, a lot of manual work gets accomplished in fractions of seconds. But, no matter how much we have advanced, the spread of Epidemics and Pandemics influence living beings adversely. Such viruses affect multiple factors in the economy and are capable of producing some enduring changes.

Business organisations across the world have been forced to shut-down to contain the virus efficiently and with utmost care. Hence, the concept of work-from-home has been implemented globally.

Representation of all the outbreaks in the last 20 years

Effects of COVID-19 on businesses

As billions of people and businesses are under lock-down, the world is speeding towards an unprecedented economic recession. Lock-down is having negative impacts on start-ups and other companies. The disruption in the supply chain has hit the stock markets worldwide. Existing continuity plans for business may be incapable of coping up with the breakneck and unknown variables of this outbreak.

Use of Technology

Twenty years ago

Back in the time, the use of technology was limited and primitive. Even though technology had the internet, only a few devices could be connected to it. Computers were used majorly by clients and scientists. These devices used floppy disks and required a telephone to dial a connection.

Use of Dial-up internet to communicate and carry on essential operations was typical back then. However, the process was slower because it used much less bandwidth in comparison to DSL. DSL’s modem used Megahertz (MHz) which was 1000 times swifter than kilohertz (kHz) of dial-up.

So, we can consider that even when technology was available, the process was still sedate.

Today

Due to a significant technology-shift, the internet runs at a robust speed enabling us to get access to multiple sources. 5G is around the corner; however, these networks will continue to co-exist with 4G ones for a longer tenure.

In this age of digitalisation, it is possible to operate remotely from anywhere in seconds. People can connect via virtual meetings from home and conduct their daily operations. Businesses which have their systems integrated with multi-cloud platforms can function uninterrupted. Server failures at this point of time will not majorly affect the services due to the benefits of cloud platforms.

The COVID-19 pandemic has accelerated an automated future which is already on its way. It has also exposed some problems in Artificial Intelligence (AI) which existed for a long time. Possibly, in future, ML will help in implementing extensive changes in businesses across various sectors. Work from home (WFH) practices in future may enable the companies to function efficiently with cost minimisation and higher productivity. However, during the uncertain present, making determinations about the future will require wisdom along with competence.

How can Open Minds help?

We have experience of serving businesses across multiple sectors for more than two decades now. We are amongst the most well-known names in the whole of the UK and the Middle East. Open Minds HAS solutions can help your business to grow exponentially and reduce downtime considerably.

To know more about how our solutions can help you hasten your business with ease, reach out to us today by clicking here.



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