UPRETS Research | Digitalization and Coronavirus — How Can It Change Our Lives?
Today, COVID-19 has challenged every company to transform digitally. In some cases, companies have to decide whether to close their doors or to innovate further digitally.
The coronavirus outbreak has far-reaching effects on the economy as an international emergency for public health. The digital sector includes this. Meanwhile, digital technology has played a leading role in the identification, tracking, and treatment of the virus but also in raising its impact on the economy as a whole.
The pandemic has affected consumers and companies, changing how people work, shop, and spend their free time. For customers who need the means to manage their daily tasks efficiently, Digital solutions such as delivery, contactless payments, and mobile banking are now as safe as possible during COVID-19.
Businesses Have to Make Use of Digital Technologies.
As countries move into the freeze, people are pushed from home to keep social distance and work. Digital innovations are becoming more critical in times like these than ever before. We may not be able to remain physically close to each other, but we still have to communicate with each other, both socially and professionally.
Even companies that used to be “digitally lazy” will now need to step up their digital game as a result of the pandemic: video conferencing, document sharing, cloud solutions, information security — businesses across all industries, whether they like it or not, will need to use digital technology to keep their operations running.
Digital Innovation to Combat COVID-19
Digital technologies have captured our imagination amid the global pandemic for their potential to support us in combating COVID-19. Before the current COVID health, education, social and economic crisis, their applications in entertainment, increasing productivity, and convenience were the most visible uses of emerging technologies, such as Artificial Intelligence.
But now the ability of digital technologies to go beyond that has been exposed to the general public. Emerging technologies, such as Artificial Intelligence (AI), can help accelerate vaccine development, forecast the most efficient public-health measures, and maintain public awareness of the science. They have also encouraged us to transfer a lot of our lives online, sustaining economic and educational structures while most people stay home and helping us stay connected.
From Offline to the Digital Realities
We have seen an increased digitalization of human experiences since the advent of digital technology. We have evolved from solely offline and actual encounters to a blend of truth that effortlessly merges both offline and digital environments in our daily lives.
Many of us now have a smartphone, a computer, or a tablet and use it in many daily activities. From town navigation (Google Maps) to finding enterprises (Yelp) and star viewing (SkyView), digital technology is now facilitated and increased.
Indeed, many people are commonly linked and sharing experiences through social media, connecting remotely with others, and using the internet to better understand and communicate with the world around us.
Changing the Balance of Real to Mixed Reality
Importantly, however, the process of digitization of human experience has only been in its early stages in recent years. The pandemic, however, seems to change the game entirely. Even if it doesn’t always ‘feel’ right, many of us are now studying, working, dancing, partying, enjoying art, traveling, and much more, from our homes through digital interfaces.
It has accelerated the planned digitalization of many businesses, educational institutions, and non-profit organizations. In a matter of weeks now, the same process that was going to take place in months or even years is happening. That is a fascinating paradigm shift. The new pandemic is eliminating obstacles to the daily use of digital technology.
We are seeing increased progress in research on robotics and remote 3D printing technologies developed for challenging tasks, including space explorations. While this could make a difference in the future and transform the construction industry, at least not in the same accelerated form as we see in other aspects of our lives, the technologies are not fully ready to be deployed.
What Is the Next Stop for Digital Technologies?
Digital technologies will eventually transform our human experiences, but what lasting effects will emerge from the accelerated digitalization? That remains to be seen, but we do know that future developments will allow us to incorporate technology even more seamlessly into our lives, and we will see an increased symbiosis between humans and machine. We’re not only going to see and hear in digital environments in the future but touch, taste, and smell too. There are endless possibilities.
The COVID-19 pandemic is disrupting the business world, and there is no choice for companies but reviewing their strategies to overcome the crisis. Learning from one another is our most powerful tool to transform our transformations as our ways of working and our workforce are being dramatically reshaped. Digitalization is where the development will be in the coming decades, and the current crisis might give it a huge boost.
About UPRETS:
UPRETS is a platform focused on simplifying investment in real estate by advising on and digitalizing assets and securities.
We are dedicated to providing a convenient, legally compliant and advanced real estate digital securitization platform for property developers, asset owners and investors globally.
By utilizing our UPRETS platform, real estate developers and assets owners can create digital securities for their properties, providing investors with various low-barrier, secure and convenient forms of investments.
Backed by a publicly listed real estate conglomerate (NYSE:XIN) and our award-winning, patented blockchain technology, Xbolt, we bring a network, experience and luxury assets to the platform.
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