These Businesses Are Thriving Amid COVID-19 Crisis
COVID-19 has created major havoc both in terms of health casualties and economic crisis across the globe and has brought most businesses to a standstill. It has majorly impacted productivity and overall economic growth. While the world is still coping up with its wrath, there are certain tech businesses that may have found an opportunity amid the looming crisis. In this article, we list a few businesses that may thrive in the coming few months. AR/VR With the lockdown in effect, many businesses are now functioning online. Even conferences and meetings are witnessing an online transition, which has called for the rising demand for AR/VR technologies. There is a newfound love for these technologies to facilitate business while ensuring optimal comfort and productivity. Looking at the increased interest, many companies including Digital Jalebi are moving towards web AR and VR so that these experiences are just a click away. For instance, they are working on bringing an experience where users can have an AR/VR experience without installing a new application. They are also working on photorealistic shaders and rendering techniques with the browsers. Fawaz Syed, Co-founder & Director of Digital Jalebi believes that almost all the businesses around the world have been affected, especially the visualisation or Simulation techniques. He shares that there has been a significant increase in interest among the customers who would like to get the visualisation of the product or apartments sitting at their homes without the need to actually visit the showroom. “Photorealistic visualisation techniques and seamless interactions will make the experience as close to the real one,” he says. Some of the areas where AR/VR can be used tremendously are furniture visualisation, apartment interactive walkthroughs, home interior customisation, among others. There has also been a surge in the requirement for virtual events platforms as many events are getting cancelled because of the lockdown. The company has been working on developing a platform that can allow users to carry all the aspects of a physical event such as registration, audience engagement and immersive presentations, fun activities and analytics. Facial Recognition Given the risk of human to human transmission of the coronavirus, many companies are looking to find an alternative for fingerprint scanners. Facial recognition comes as the most suitable option. Many countries such as China and Russia are already pitching for facial recognition to tackle COVID-19 as it avoids the need for many people touching the same surface. With this boost to the facial recognition industry, many companies such as DERMALOG in Germany and Telpo in China have started working on it. Many other companies such as Hanvon is also facilitating facial recognition technology connected to a temperature sensor that could measure the body temperature in people. The scenario in India is no different with many companies already working to replace fingerprint-based attendance systems with facial recognition systems. Companies such as Ramco Systems and Secureye are already observing an increase in the number of enquiries about facial recognition systems. Indian police such as Pune state has also developed a facial recognition software system for surveillance of home quarantine persons. It lets the person upload registration details using the app. They are using AI-based face recognition and GPS algorithms to compare against the registered information. Other governments such as the Rajasthan government and Karnataka state are also using similar strategies. While the rush to implement facial recognition may call for privacy concerns, the fact that it can help with containment is giving it a major boost. Many companies are customizing their solutions to make it better equipped to even track positive patients. While the COVID-19 pandemic has made the situation worrisome, businesses are looking to thrive in the current scenario. Technologies such as augmented reality, virtual reality and facial recognition are definitely a means to accomplish it. Cloud Storage and Cloud Computing Many companies are moving applications, data and other business elements to the cloud. This is to primarily ensure accessibility of data as the teams are working remotely during the lockdown. It has become the need of an hour for companies to have a centralised location that can be accessed anywhere in the world. While cloud storage is gaining prominence to save files in cloud-based servers, cloud computing is also being looked up to complete projects. There is a visible increase in the demand for cloud storage and computing especially in software and data analytics firms that work with large amounts of data. The increased demand could be attributed to the fact that it brings about an ease of universal accessibility, makes work smarter and faster and ensures hassle-free data storage. Chipmakers For Cloud Computing It is interesting to note that the stock market for chipmakers that serve cloud computing data centres have observed a surge in the last few days. As cloud computing services are providing an infrastructure to handle the increasing work from home and homeschooling markets, it has given rise to the makers of chips that bring about high-performance computing. For instance, companies such as Nvidia and Inphi that provide GPUs and products critical for moving large amounts of digital information quickly between and within data centres are seeing an increase in demand. Cyber Security Given the turn of events in the current scenario, digitisation has dramatically increased which in turn calls for greater cybersecurity and privacy measures to be in place. With work from home becoming the new normal, there are chances of increased cybersecurity threats if proper security measures are not in place. To ensure proper security, users may turn to cybersecurity companies to use mitigation tools against any possible threats, especially as remote access and work from home become common.
COVID-19 has created major havoc both in terms of health casualties and economic crisis across the globe and has brought most businesses to a standstill. It has majorly impacted productivity and overall economic growth. While the world is still coping up with its wrath, there are certain tech businesses that may have found an opportunity […]
While the world is still coping up with its wrath, there are certain tech businesses that may have found an opportunity amid the looming crisis.
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["Go", "programming_languages:R", "cloud computing", "AI", "ML", "Git", "RAG", "ViT", "analytics", "R"]
["AI", "ML", "analytics", "RAG", "cloud computing", "R", "Go", "Git", "ViT", "programming_languages:R"]
Srishti currently works as Associate Editor at Analytics India Magazine. When not covering the analytics news, editing and writing articles, she could be found reading or capturing thoughts into pictures.