Remember a time when remote working never existed, unless you were a VP of a global corporation that generates \u00a31,000,000+ in revenue in order to even consider receiving such a privileged company perk. Working from home was not always applicable to most professions pre-pandemic, and many companies avoided any hidden risks of migrating their work environment and infrastructure to cloud based services. Businesses who facilitated their digitalisation initiative during this period have been able to mitigate some of the negative economic impacts. Strategic transformation into digital has insured companies in the long run and it has also allowed the continuation of operational activities, bypassing restrictive measures posed physically by the Government.<\/p>\n\n\n\n
Our working lives have become ever more digital after the catastrophic events of COVID-19. Although many people still believe that our digital economy will continue to grow throughout the coming years. In fact, during the United Nations Conference on Trade and Development (UNCTAD) in April 2022, it was understood that the global pandemic had actually accelerated the process of digital transformation<\/a><\/em> and added urgency for Governments to respond, advocating for better international cooperation. <\/p>\n\n\n\n Data-driven digital economies have become a monopoly for major tech companies resulting in an imbalance to the position of developing countries within the global market. In relation to social inequalities and economic opportunities, digital exclusion amongst low income families was accentuated by the pandemic, exposing what is now known as \u2018digital poverty\u2019<\/a><\/em>. The outbreaks were reinforced by multiple lockdowns to control the spread, however collaterally it created an absence of meaningful human connection in both our personal and working life back during 2020\/2021.<\/p>\n\n\n\n A post COVID-19 recovery plan has already been proposed to rebuild a Europe<\/a><\/em> that will be more digital and environmentally friendly. The EU\u2019s long-term budget, combined with NextGenerationEU (NGEU), forms the largest stimulus package ever financed in Europe<\/a><\/em>. A total budget of \u20ac2.018 trillion will be distributed across different priorities over the next 7 years, starting from 2021\u20132027, with digitalisation being an essential criteria.<\/p>\n\n\n\n Limited physical contact thereby transformed our lifestyle behaviour to become more digitally influenced. At the same time, the UK tech industry remained resilient, attracting $15bn of venture capital despite the uncertainty encountered in 2020<\/a><\/em>. Commercially the limitless applications of VR\/AR have the potential to bring additional interactive elements within reality, in addition to the promise in the delivery of exceptional digital experiences to user journeys.<\/p>\n\n\n\n Creative reality agencies are exploring new possibilities of creating digital environments for socialising AR technology, whereby participants can collect virtual drops that can be exchanged with other players. Digital drops can then be converted from virtual into physical rewards, thereby further gamifying the whole retail experience of the customer. It\u2019s an exceptional concept that will hopefully encourage more in person interactions and re-engagement between millennials and Gen Z back into in-store physical shopping.<\/p>\n\n\n\n