Impact of COVID-19 on IT Industry

No doubt COVID-19 has thrashed the economy completely. But as always there are two sides of the same coin; it has proved a BOON for the IT Industry.

There have been basically four breakthroughs for the Indian IT Industry.

  • 1995- Discovery of the Internet
  • 2000- Reprogramming of the World's Computer systems
  • 2008- Banks switched to IT solutions for Cost Savings after the Financial crush
  • 2020- and now again 12 years later, suddenly a huge demand for digital solutions 
As the governments of the World have imposed lock down, Social Distancing is a must for all the people to slow down the virus from spreading. And as a result-businesses are struggling. This has called for the digitisation.
As the governments have been stressing on E-Ids, E-Passes, and Digital Tokens for Wine Shops, there has to be someone who provides the solutions- and here comes the IT-INDUSTRY.

The IT Industry says it has seen huge demands in basically 4 sectors- SCAM
  • Social
  • Cloud
  • Analytics
  • Mobility
The Automobiles and the related industries have been demanding for an INNOVATIVE UI-
  • Automated
  • Contact less
  • Digital
Various industries- for instance Consumer Goods Industries- where many workers work- they have been demanding for a system- more specifically a Precautionary System- which works on a Bluetooth system -such that if any two workers come near each other within 2 metres radius- the buzzer alarm goes- thus warning them to stay away from each other.

Similarly Bots have been used for a variety of reasons including-
  • Keeping the track of Sales
  • Booking Online Appointments
Challenges for the IT Industry-
Besides so many positive signs of growth; there are many challenges for the IT Industry-
  • Security
  • Software Rollouts- Software Rollouts require complex Computer Systems- which can't be executed from the home PCs. So in this respect WORK FROM HOME fails!
  • Computing Heavy Tasks- Computing Heavy Tasks too require Complex Systems which are available only in the office.
  • Reluctant to Invest- Certain Companies and Businesses are reluctant to invest in It solutions because of two reasons-
    • Lack of Belief on IT solutions
    • Lack of Capital due to low business
Although the Software Rollouts and Heavy Calculations can be conducted in the office in small groups; the businesses should believe on the capability of the IT Solutions. This will lead to a Two-Way Beneficiary- both for the IT Industry as well as the businesses.

By-Siddheshwar Panda
Sources and figures- 
  • Economic Times
  • The Economists

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