Economic downturns don’t cause technology shifts, but they do have a habit of accelerating them. The evolution of any technology follows its own path, as inventors and engineers try to meet customer wants and needs, and this transformation is fairly straightforward when the economy is robust and people feel they can invest time and money in something. But it is different when there is an economic downturn, and it is vital to see and invest in the future when the economy becomes unpredictable, as has happened during the coronavirus pandemic here in 2020.
The pandemic-hit new economy has brought renewed management focus on digital transformation initiatives and consequently IT budgets are being re-evaluated. This is, interestingly enough, a silver lining among the clouds.