As the Covid-19 outbreak has forced us to take shelter at our homes, IT technology is creating ways to bring us together. We have all witnessed this change, where all our labor force has gone online within three weeks. Even schools and supermarkets are delivering education and goods online, broadcasters are providing entertaining or educating materials to people from their own respective homes, and even parliament has shifted to online. Thus, everyone is shopping, working, or playing online while being quarantined. Hence it would be difficult to earn and survive in this pandemic era without IT technology and its accessibility.

It is no doubt that IT companies and internet platforms have become true winners in this pandemic era, creating and changing sources of our bread earning in this crisis.
In this article, we will discuss how IT technologies are proving to be the savior of our economy and are re-shaping our lives during this era of the Covid-19 outbreak.

World Economy Crisis Due to COVID19

The world’s most top economies are on the verge of collapse as the Covid-19 outbreak is disrupting the social, economic, political, religious, and financial infrastructures worldwide. Among these top economies, the USA, China, Japan, and France take the tops place as the most affected by a global pandemic.

Even investors that were predicting the rise in the bull business, at the start of 2020, are now in shock to see the fall of Dow in a matter of three weeks. Not to mention the oil prices have also fallen drastically in the last few weeks. Now 6 million people have become jobless in just three weeks. The pandemic situation has become even worse for daily wagers. Unfortunately, this virus will cause more chaos and destruction as experts predicted both economically and socially in the upcoming months.

How Information Technology is Helping Economy Amidst COVID-19

Coronavirus infections are spreading rapidly, causing the rise in deaths in every nook and corner of the world. Covid-19 crisis has caused the economies of many countries to stand still with many sectors on the brink of extinction. This is unsettling to both the businesses and consumers. To resume normalcy and to ensure that financial situation stays on top, people are depending on gaining access to their investments, bank account, credit card services, and insurance proactively and this can only be done when both the telecommunications and financial sectors will shift to IT and new infrastructure.

That being said, digital technologies such as e-commerce platforms are quickly becoming famous in many countries worldwide. Digital platforms such as Amazon, Shopee, and Tokopedia, and other online stores have experienced a sudden boost in their sales in the last couple of months. Sellers are opting for Livestream e-commerce since they cannot sell their products face to face to their customers which previously they used to do.

Hence, digital technologies have shown great potential in encountering the ongoing Covid-19 lockdown by proving to be both efficient and convenient in this crisis, acting as an important role in maintaining both economic and social endeavors. It is up to countries to take measures in implementing IT technologies by embracing a more malleable and broad-minded approach. Only those countries who do so will emerge victoriously and will gain benefits for all society and themselves.

Work-from-Home Setting

As social distance is being imposed by the government in many countries due to the fear of rising mortality, earning has become more challenging for millions of workers around the globe.
On the other hand, digital platforms and IT technologies have created ways to earn from the isolation of their homes. Many popular apps such as Zoom and Skype have become the bread earning app for many employers.
Youngsters, however, are opting to utilize more popular chat apps and video apps, resulting in providing jobs to many. Many private and government organizations are now providing computer devices and necessary resources to workers to easily continue their work from home.

Rise in Use Mobile Applications

The Covid-19 outbreak has caused a surge in the utilization of mobile applications. Several companies and organizations are now transforming their mode of services to be available through mobile applications. Hence, everything from shopping to banking can be achieved through online, which were options before, has now become a necessity.

Online Trainings and Bootcamps

In this pandemic, companies such as Amazon, Google, Facebook, and YouTube will emerge strongly, as people working from homes can easily watch videos, shop online, and socialize virtually, making these digital companies come out as a success.
Therefore, if you are seeking a job in these aforementioned companies or any other for that matter, you must possess the IT skills that they are looking for. Fortunately for you, these skills can be achieved and honed through online courses. Online IT Bootcamp in Colorado provides training and lectures through GitHub, Zoom Video, VS Code Live Share, and Slack to connect students with their respective instructors. In response to lock down in the Covid-19 crisis, many IT boot camps are providing the option of in-person training to their customers. Therefore, if you are seeking a career change or polishing existing skills, online training Bootcamp is the best option to go after.

The Future of Economy amid Covid19

With the world economy dreading so high, it is high time to adapt and invent new IT paradigms. Within weeks the market has gone from soaring high to steep low. That being said, regardless of whichever the market shifts, strategies are to be made and implemented on that grant to offer everyone to earn a living.

With many organizations encouraging employees and students to work and earn from home online, companies should spend more on inventing more specialized software and smoothing the cloud infrastructure which is bound to increase during this pandemic crisis.

Industries that refuse to make changes in this pandemic era will likely fall behind as compared to those who are implementing IT technologies. The best chance of reducing the risk and coming up stronger is in the hands of those who will react promptly and tactically.

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