Due to the Coronavirus outbreak, global recession has become a major topic of discussion, which makes upskilling a priority for the professionals.

1. How Technology is helping
to combat Coronavirus?
- Global Knowledge Technologies

2. Mankind across the world was quite busy and working at their own pace
towards respective personal and professional goals, until Coronavirus (COVID-
19) outbreak became the headline of almost every National and International
news. A virus that is said to be originated from Wuhan, China started spreading
in several countries like wildfire in no time, leaving people baffled and
distressed. Amid all these, what stood as a positive factor is that we are living in
a time when technological development is at its peak, enabling researchers and
organizations to leverage technology to fight against the spread of COVID-19.

3. How Technology is helping to combat
Coronavirus?

4. Setbacks
Emerged as a global calamity and declared as a pandemic by WHO, the virus is resulting in
numerous cities pounder lockdown across more than 100 countries, collapsed supply lines,
economies derailed and impacting millions of lives. In this hour of pandemic, no matter how much
developed a country is, probably none of them are prepared enough for this unanticipated disaster.
The global economic impact is so grave that, recently UN Conference on Trade and Development
has predicted that the coronavirus outbreak might cost the global economy upto $1–2 trillion in
2020.
“The Chinese economy went down by 10 percent of GDP in the first quarter of 2020. The estimates for the US
and Europe will be in the same magnitude. There will be a double-digit drop in the first quarter.”
– Raghuram Rajan, Former RBI governor and Professor of Finance, University of Chicago’s Booth School of
Business

5. Setbacks
• And particularly in a developing country like India, which also happens to be the fifth-largest economy in the
world, the ‘stay at home’ or social distancing solution may not leave a favorable impact on the overall economy
of the country.
• In India, apparently, over 50 percent companies are experiencing impact on their operations and nearly 80
percent have witnessed a decline in cash flows. This clearly depicts the upcoming struggles that the job market in
India is going to experience.
“There was a strong hope of (economic recovery) in the last quarter of the current fiscal. However, the coronavirus epidemic has made the
recovery extremely difficult in the near to medium term.”
-The Federation of Indian Chambers of Commerce and Industry (FICCI)
• Considering all the research and predictions made, it is clear that the pandemic will have a devastating impact on
all sectors or industries making economic loss utterly uncertain.

6. Global Recession
• As per theInternational Monetary Fund, a global recession caused by coronavirus pandemic in 2020 could be far
worse than the one triggered by the global financial crisis of 2008–2009.
• International Labour Organization (ILO) forecasted that the COVID-19 pandemic might increase global
unemployment by almost 25 million jobs, considering the ongoing economic and labor crisis. It also said that
there could be an intensification of underemployment on a large scale.
• Employees may have to face delayed increments and bonuses as employers are subjected to confront the huge
loss caused by the outbreak.
• Recruitment of top executives is likely to be delayed or pushed back by at least a quarter, as the pandemic is
forcing companies to postpone projects and instead look for ways to recover the loss caused in business.
“This is no longer only a global health crisis, it is also a major labor market and economic crisis that is having a huge impact on people.”
-ILO Director — General Guy Ryder

7. Technology as the Ray of Hope
• Advanced analytics is helping considerably in tracking the spread of disease despite the vulnerable
populations through which it is traveling. In fact, with the help of technology, renowned social media
platforms like Facebook, Google, and Twitter is helping to understand and eliminate misinformation about
the virus.
• Robotics or automated technologies has been deployed in several locations of China for contactless
delivery, performing basic diagnostic functions and distributing essentials among the public, with the aim of
minimizing the risk of cross-infection. In Kerala too, the use of robots was seen for distributing masks and
sanitizers.
• The White House’s Office of Science and Technology Policy recently asked researchers to utilize AI and
analyze about 29,000 scholarly articles for answering pivotal questions about the coronavirus.

8. Make the Shift to Virtual Learning
• In this scenario, nothing will help well than taking up online IT Courses and Professional
Certifications that will strengthen the value of IT professionals’ resume. Post, the withdrawal
of the lockdown, companies can also take the plunge of organizing Corporate Training for its
employees so that they remain updated with the new-age technical skills and bring more
productivity to work.
• Understanding the ongoing crisis and keeping the spirit high that everything is going to be
alright soon, Global Knowledge Technologies is offering a wide-range of online training
courses on in-demand skills by top OEMs which can be pursued by working IT
professionals while completing their work commitments from the comfort of their homes.

9. Thank you!