There is a sector that has remarkably weathered the storm of Coronavirus quite well. This industry is the technology sector, which is not quite surprising given the wholesale move to the retail supply everything was based on the new era digital solutions. The pandemic has prompted many businesses to start investing in the new age technology solutions and in digital transformation. The companies that are planning for growth in 2021 are relying on the digital world. This is according to new research as done by an agency company named Studio Graphene.
Technology That Is Bound To Boost Businesses In The Pandemic Era
In the various business leaders’ survey, many found that 70% of the companies are expected to increase their IT expenditures this year. 69% of companies are planning to launch new digital projects, initiatives or tools. 65% are intending to invest newly in the field of technology.
Some of these things include the Internet of Things (IoT), artificial intelligence (AI), cybersecurity and big data. In the technology sector, cloud technologies are the next big thing in which the company wants to invest, while 64% of the businesses are planning to invest in 2021. 67% are intending to buy new tools to collaborate for staff, while 68% are planning to increase their customer’s digital experience.
Almost half of the businesses, i.e., 49% of those surveyed, said the pandemic era has exposed their IT infrastructure weaknesses. 48% of the companies have eliminated older software that wasn’t fit to use since the pandemic era began.
The founder and current director of Studio Graphene, Ritam Gandhi, said that 2021 will be bringing in a huge digital transformation in the business modules. It is great to see the enthusiasm in the companies to find them responding positively to the challenges. Since last year, they have been making bold decisions to invest in and use newer technology as part of their long-term venture for growth and survival.
Tech companies are themselves investing in newer plans and bringing them to a new level. The companies are shifting from manual processes to newer technologies like automation and machine learning, which involves managing a big block of apartments.
Sam Taylor’s company has also been partnering with CMU Insights, a research and insight providing company specializing in the copyright of music and ecosystem streaming. It also works as a marketing delivering consultant and offers growth advice to startups.
Although coronavirus hit their revenues and impacted badly on some of the aspects of the business policy. It also forced them to adapt quickly, while the drop in work gave businesses some space to focus on their improvement, as said by him.
Investment in digital solutions has become a key. In the past year, Taylor has been investing in machine learning, automation and no-code development. It is being done to automate and simplify more and more spheres of the business, which previously had to be done manually.
He describes low code or no-code development as the game-changer in the industry. This made it easier for him to build a prototype of the simplebuilding.io without hiring any developer or writing codes with a few simple code lines.
Even after a couple years ago, he wouldn’t be able to design something that sought without any investment in thousands of pounds in software engineers, as said by Taylor.
After seeing small scale implementations in 2020, the businesses in the U.S. are expected to make triple investments in these sectors in 2021. The companies have already attached consultancy clients. So, if businesses implement new-age technology ideas, they can succeed and overcome the hurdles through technology.