15 Dec Technology as a key tool to promote growth

Currently the world is going through inflation, generated by the disturbances caused in the supply chain and productivity that exists, as well as the confinements that have been developing as a result of COVID – 19, other factors which also intervene is the recent event that occurred as is the war between Russia and Ukraine, with this, the price increase of some products such as grains, metals, and other services related to energy occurred.

Another of the global risks to consider for the development of technology, is the commercial tension that exists between the United States and China, with the last-mentioned country, Taiwan has been demanding a democratic government which will allow it to better develop as a small nation.

What we must bear in mind is that before all the events mentioned above, the COVID-19 pandemic occurred, having as an outcome a disastrous result in the weakest people, as well as people were affected by the pandemic, according to data from “CEPAL”, “OCDE” and the Development Bank of Latin America and the European Commission.  several small businesses were too affected resulting in the closure of 2.7 million small businesses, thus  causing the loss of around 9 million jobs, thus generating a more critical situation than the planet had already been going through, according to studies the economies hardest hit by the pandemic were the economies of Latin America and the Caribbean  As a result, 40% of workers did not have access to social security and with the closure of companies and mass layoffs, the percentage of people engaged in informal work increased by 60%.

However, not everything was negative, since thanks to COVID-19, the digital transformation developed, it is worth mentioning that thanks to this crisis the development of technology had to accelerate rapidly, and with it the rapid adaptation of both people and companies.

Since the beginning of the pandemic until today, two years and nine months have passed, so technology has been and has been fundamental to be able to face the challenges that were created as a result of the appearance of the pandemic, some sectors such as health and education are evidence of how the development of technology and knowing how to take advantage of it has its advantage.

In the education sector, the continuation of the development of classes was possible due to the technological platforms with which it allowed students and teachers to keep in touch and without the need to lose perhaps months of teaching, with the good results obtained many study centers, have evaluated the possibility of developing programs online, so flagrantly appeals to students who reside in other countries and who want to register to take classes.

The health sector had to adapt quickly to technology, since it began with the creation of platforms to be able to demonstrate in time the casesand areas where there were from few to many cases of COVID, thus allowing them to counteract infections.

The adaptation to technology was reflected in the commercial industry, since the COVID-19 crisis had to force many stores that physically market to immerse themselves in the world of technology where they offer their products online, and companies that had already been doing so before the pandemic reinforce those points in order to meet the demand that existed at that time.

The phases of the value chain were demonstrated that it had to see a better automation of payments such as customer service in stores, automation in warehouses to improve efforts and be ableto make a better and timely delivery of products as well as supply chain management.

Finally, although it is true before the COVID-19 pandemic, digital transformation had occurred significantly in some economic sectors, the pandemic was an opportunity to accelerate the development of technology and that society in general can adapt to them and take advantage of the advantages it offers us.

Osmar Zavaleta / EGADE Business School. (2022, December 07).  Osmar Zavaleta: Digital transformation as a mechanism to generate growth. The Financial. https://www.elfinanciero.com.mx/monterrey/2022/12/07/osmar-zavaleta-la-transformacion-digital-como-mecanismo-para-generar-crecimiento/