Digitization began shortly before the introduction of the internet and ushered in a new radical change in terms of the way we work, shop, bank, travel, learn and govern.
Digitization is fundamentally the technology that enables the conversion of traditional sources of information such as papers and photographs into binary code – which are technically ones and zeros, the universal computing language. This expression of data in terms of ones and zeros enables the generation, replication, compression and dissemination of data and takes key business procedures to the next level.
All types of enterprises from small businesses and startups to corporations and conglomerates are jumping on the bandwagon of digital transformation.
It is important to note that prior to the Coronavirus pandemic, digitization was not receiving the same level of attention. The pandemic helped individuals and organizations realize the importance of developing digital operations as current conditions redirect the way we work and operate.
Several digitization trends have emerged amid the pandemic.
Pandemic pushes 5G implementation
The pandemic has emphasized the importance of better internet speeds, connectivity and services. Telcos and MNOs are literally working around the clock to deliver and implement 5G to their subscribers. Several are already underway, and some have even hit remarkable milestones
- 380+ operators globally that are investing in 5G technologies
- 80 operators in 35+ countries launched commercial 5G services
- Qatar achieves 90% 5G adoption
- South Korea’s 5G users hit 7.86 million in July
Work from home adoption and e-learning
Fundamental aspects of life needed to continue despite nationwide lockdowns. As such, the world witnessed a global shift towards remote work, work from home (WFH), and e-learning. Businesses and schools simply had to adapt.
The digital shift ushered in opportunities such as diversifying the workforce and presenting new possibilities of learning to more people from different backgrounds.
Contactless payments
Contactless payments – a virtual payment made via phones or specific devices – have been the most effective way for businesses to overcome the crippling effects of the pandemic. Digital payments are expected to triple by 2024, amounting to a whopping $6 trillion globally.