Technology Trends With Staying Power

Technology has never been as influential as it is right now. Many new initiatives initially identified as trends have now become integrated into our everyday lives. Technology giant Ericsson explains: “The past 18 months have been full of unexpected technological advances, as the whole world shifted to meet the demands of a new reality. But are these innovations just a product of the pandemic or here to stay?” Here are some lockdown trends with staying power:

1. Remote Working

Working From Home (WFH) received a mixed reaction when first becoming mandatory wherever possible. Employees were wary of the lack of ‘in person’ communication with others; organisations had concerns about productivity and security. Happily, the reality has been largely positive (read our tips for reducing human cyber risk).

Ericsson reports: “60 percent of decision makers are very satisfied with the ability to cut down on office space, with 43 percent strongly believing they will have no office at all by 2030. Early indications also show remote workers are up to 40 percent more productive than their in-office counterparts.”

2. Online Learning

Video conferencing tools, educational apps and e-learning software have become essential everyday tools for many people. Demand for these services has soared. For example, Zoom Video Communications achieved annual revenue growth of 326% in the year ended 31 January 2021. A further 43% growth is forecast for the current year. As 5G networks enable faster internet and more reliable connectivity than ever before, online learning will continue to grow.

3. Telehealth

Healthcare practices embraced telehealth during the first lockdown period (they were able to open with safety procedures in place during subsequent lockdowns). Many have kept the service as an option for clients and this has been valued by vulnerable patients and those unable to access clinic locations. Telehealth also benefits mental health by enabling greater socialisation and practitioner collaboration.

4. Contactless Payments

Increased transaction limits for contactless payments and more online shopping have drastically reduced the use of cash. The UK has moved a big step closer to becoming a cashless society after official data showed that the number of payments made using notes and coins fell by 35% in 2020. Five in six payments now involve no notes or coins, compared with half of all transactions a decade ago.

5. AI-Generated Content

The global AI market is predicted to snowball in the next few years, reaching a $190.61 billion market value in 2025. The top three most significant challenges companies face when considering the implementation of AI are:

• A lack of appropriately trained staff (56%),
•  the fear of the unknown (42%), and
• finding a starting point (26%).

The most prominent use case for AI in the retail industry is customer engagement (chatbots, predictive behaviour analysis, personalisation). 20% of businesses say automating tasks such as invoicing and contract validation is the second most crucial use of AI. (SEMrush research 2021.)

“We’ve seen greater reliance on technology than ever before with some businesses operating completely virtually,” says Eric Hughes of EMH Technology. “This creates exciting opportunities, embracing the potential of cloud services and bespoke applications for example. Robust internet connectivity offers additional options such as VOIP telephony for ongoing remote operations. There are so many possibilities!”

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