COVID-19 crisis has created many challenges across industries, which lead to a reduction in technology spending. Due to this, COVID-19 companies are focusing on exploring innovative ways to service their customers with the adoption of AI and Big Data.
During the crisis, global IT spending could go down 3-4%, resulting in a slowdown in the software and services business and a severe impact on hardware.
Software vendors such as IBM, SAP, and Microsoft are giving the public free access to some of its software. These include IBM’s AI platform ‘Watson Assistant for Citizens‘, SAP’s various solutions including SAP Ariba Discovery, Tripit from Concur, and SAP Litmos, and Microsoft’s AI-featuring Microsoft 365. Eka Software Solutions, a relatively smaller company, has also launched an AI-based, free app called ‘COVID-19 Risk Monitoring‘. To help customers get a clear insight into supply chain risks and provide business with the ability to identify alternative suppliers, so the business continuity isn’t affected.
Government, public sectors, healthcare, and research companies are in urgent need of adopting AI solutions to find an effective treatment. Banking, insurance, and the retail industry also need to use AI-driven analytics to automate their services.
The COVID-19 crisis is an opportunity for IT vendors to build and improve their capabilities and deploy emerging use cases to detect, track, and prevent diseases and help the clients in hard times like these.
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