Why Technology Has Become A Necessity During The Pandemic

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COVID 19 has been upon us since March and the world has definitely accused its impact. With companies shutting down and business failing, the only sector who flourished was the technological one, with many new pieces of tech being launched into the mainstream market.

AI: Now Mandatory

According to Accenture and a team of app developers in the UK, “Short-term use cases are clear: workforces desperately need augmentation. Already, human-AI collaboration is playing a role in the race to find a COVID-19 vaccine. Outside the medical field, the pandemic is introducing new constraints and challenges that AI systems can help overcome. AI can help people dream up new solutions and ideas to build a more flexible organization.

Long-term, COVID-19 will enable us to see human-AI collaboration at its best, potentially easing people’s concerns about the technology. A 2019 global Accenture study on AI found that one of the top roadblocks to scaling the technology is lack of employee adoption. But the pandemic could push us past this. If enterprises invest in explainable AI and other tools that support and enable true human-AI partnership—people will experience the technology at its best. Success today could open new possibilities for businesses to reimagine their enterprise and workforce in the future.”

This is the confirmation of the fact that AI has moved from being a very theoretical matter, into something really tangible.

Fintech Going Mainstream

When considering the impact of Covid-19 on the global fintech market, no one measure can truly encapsulate the action taken by the fintech industry to mitigate risk and continue to thrive amid uncertainty. Assessment can only be valid if regions and sectors are examined. But when context is applied – geographical, lifecycle or sector – it can help to identify global solutions through shared insight. This is because fintech offers solutions which are tailored towards the user and not towards a bulky, slow and exploitable bureaucracy. Fintech as a whole has been estimated for over $30 billion in the past semester with a net 50% increase in comparison to 2019, which is yet again the confirmation of the fact that the sector isn’t just a niche “plus”, but a requirement for futuristic financial processes.

To Conclude

The future of the world is in the hands of technology, specifically web based technology. We’ll see what will happen after this pandemic and in 2021 but, for now, we’re safe to say that everything will be automated and tailored towards the users.