While some sectors are significantly deprived, it is the prime time for others. As everything moves online due to the virus, business follows suit where we notice an increase in demand for online products and services. Relevant to education, there have been many tools, apps and methods introduced to mitigate the current conditions. Some are highlighted below.
As teaching is moved online, schools and universities around the world follow pursuit doing assessments online as campuses close. A transition to digital education is occurring very fast, and pushing institutions and businesses to embrace their creativity. Chinese start-ups and technology companies have raised more than $2.5bn during the month to invest in sectors, including biotechnology an online education. Read the Financial Times article here.
Artificial Intelligence (AI)
AI is playing a large part in finding a cure for coronavirus. It is also increasingly being used in educational methods as we are prompted to think critically and creatively. AI-based tech is a London based online learning platform that uses AI, which creates learning pathways tailored and adapted for each student. Read more here.
Read about changes to education with artificial intelligence and the future of innovative technology in education here.
What are the businesses booming at the lockdown?
The 2008 financial crisis brought about the boom of many multi-million dollar businesses including Instagram, Uber, Airbnb, Whatsapp, Groupon and Dropbox. Read more on this here
Zoom is an online conference calling service that has augmented in value rapidly since the move to the online world. The zoom share price had soared from under $70 a share in January, before the coronavirus struck western countries, to $150 on Monday reaching a total market value of $42bn. The boom in Zoom Video Communication’s share price has turned its founder and chief executive, Eric Yuan, into one of the world’s wealthiest people.
Read more on the success of Zoom here.
Tutoring is an already highly demanded service that is equally high in price. The uncertainty caused by a coronavirus, especially for students aiming to achieve certain grades to get into their University of choice, has drastically increased. Tutors can demand as much as $300 for 45 minutes of work. It is pursued around the world as more tutors are available to hold classes with the resources and technology to make it virtually such as conference calling, interactive games and screen sharing.
Read more on the rapid rise of private tutoring in China here.
These applications are everywhere and are taking over online platforms and social media. An interest in fitness equipment is also increasing, which is dubbed as ‘dumbbells are the new toilet paper’ referring to the drastic panic buying of toilet roll.
Property Market :
The Blind Sales of home and viewing continuing during the lockdown using the technology like Skype, Zoom and whats App video call. If the buyer or tenant like the location and know the size and other local facilities, then they are putting the offer to the property. The government lockdown eases with come up with a new set of rules for the property market, and the rental market will be the first to recover.
What are they offering?
Many large tech companies have been offering free trials, free access, and overall lowering their barriers to accessing their products.
- Google is allowing free access to advanced features that generally have a fee every month for Hangouts Meet to all G Suite and G Suite Education customers for several months.
- Microsoft offered a free six-month trial of its top tier of Microsoft Teams to enable schools, hospitals, and businesses in China to keep operating even with the restrictions of coronavirus.
- Zoom offers member benefits to non-members
Read the Forbes article to see what other companies are getting involved here.
Finally, the future of technology in education, real estate and other sectors will rely on data safety and equal accessibility to all. Some families can not afford laptops or smartphone. So the education and tech industry should consider coming with a new plan to help the pooper in society.