Technology in 2020 Recap

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Technology in 2020 Recap

Technology in 2020 Recap 768 487 Exist Software Labs

Sky’s the limit with technology

Technology was the biggest thing that happened during this pandemic for the business industry. When everything was paused because of the lockdown, everything became online. Considering the safety protocols, people had to stay home and buy food, pay their bills, have their health check-ups, and etc online.

The challenges that 2020 has brought affected people from around the world. It has forced most of us to change our way of living. Most businesses suffered because of the threat that COVID-19 has placed upon us. Nearly all of the activities that people did from day-to-day stopped, but most of it has shifted online. With the continuous innovation of technology, it has helped most people in coping with the struggles that the year has presented.

Here are some of the advancements in technology that stood out in 2020 and why they are a WIN during these losing times:

Online Retail

E-Commerce is a business model that lets a business’s target audience purchase their products/services online. A form of e-commerce that really made a great impact during the pandemic is online retailing. Due to the forced closure of most brick and mortar businesses this 2020, a lot of them took their shops online and engaged in online retail. Most businesses who struggled financially have definitely got by through online retailing. Even aspiring entrepreneurs who lost jobs due to the pandemic started online businesses.

Online Retail might have even improved the finances of businesses who decided to offer their products and/or services through the internet.  Platforms for online retail have also increased their popularity during 2020. Online retailing has become so popular in 2020 that anybody with a digital presence became familiar with the term “Add to Cart.” With the continuous trend of online retailing, this form of E-Commerce can be projected to be one of the leading industries in the near future.

Retail E-Commerce will grow up to $4.88 trillion in 2021 according to Statistica.

Online Retail is surely the future as everything is turning digital at a very fast pace. With just one click in the app or web, you can reach anything without even putting an effort into going out. No need to go store hopping just trying to find the item or food you want or need. Just search and click buy.

Online Payment

Safety is the priority of most customers during the pandemic. As for banks or retailers, they would not want to be left out during these times. With the evolution of technology, contactless payment methods are now possible.

With the rise of online retail, the number of digital transactions greatly increased; this required online, stable, and reliable methods of payment. Although online payment has been readily available before 2020,

the finance companies who offered this had to innovate their ways so that they could accommodate the sudden surge of businesses and people opting to use online methods of payment. 

Nowadays, nearly all banks have brought their services online. There have also been banks that mainly catered to online banking services. In the coming years, the growth of online payment methods will continue to develop. It is also possible that it will be the most preferred payment method for future transactions.

Digital Health

Digital technology is the use of information technology to make healthcare more accessible. It basically helps healthcare providers to treat patients or facilitate care by using device whenever and wherever the patient is. It also helps the healthcare industry to keep track of data online. Patients can now inquire about medications, medical prescriptions, medical prescriptions, and check-ups for any concerns.

Its benefits include convenience, money-saving, and time-saving.

Also, at this time of a pandemic, you would not want to leave your house and risk going to hospitals or other places. So with this technology, it helps you reach a doctor just with your phone or computer.

Why is digital health a huge win during the 2020 pandemic and will continue to grow as the future of healthcare?

Digital health technology can facilitate pandemic strategy and response in ways that are difficult to achieve manually according to The Lancet Digital Health. During the pandemic, digital technology was a big help with the planning, database, and response with the patients. It also made contact tracing and screening for infections easier to execute.

The BIG 3 during the Pandemic in 2020!

Online payment, online retail, and digital health are the big wins during the pandemic in 2020. It is mainly because of the revival they made possible for all businesses during the lockdown. They made it more convenient and safer for everyone, plus it was more accessible for almost every individual. 

Digital health was a huge help in tracking the virus. Meanwhile, online retail and online payment kept a lot of people inside their houses by allowing them to get their needs and wants through cashless and almost contactless transactions.

What a way to step up your game during the pandemic!

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