There’s more to the coronavirus pandemic than meets the eye. While this global health crisis has wreaked havoc on economies and industries, it has also driven the transition to remote working and services. In fact, this pandemic is going to have a long-lasting impact on several businesses.
In the past few months, lockdowns imposed to curb the COVID-19 widespread have driven innovation. This has created a trend, which is defined byworking from home, online education, digital health, and has also boosted demand for online retail.
As we know, crisis breeds innovation. As during a war, innovation in machine guns, aircraft, communication line are at the forefront, this pandemic has led to radical changes in every facet of human life.
With social-distancing orders in place, technology has helped provide flexibility in retail. While chatbots help address customer queries, AI gathers data to enhance relationship with customers. In fact, technology can now analyze the requirement of a specific product and notify operators about the inventory requirements. Furthermore, contactless delivery with the help of robots and virtual assistance sessions incurb-side pickup points are helping retails operate efficiently, even with minimum staff.
COVID-19 has changed the way businesses operate, leading employers to rely more on the remote working tools to maintain business continuity. The boost in remote working has led to technological innovation in various video-conferencing apps and cloud-based software. Additionally, companies are now looking for technologies that are faster, more cost effective and productive, and allows for more creativity.
Meanwhile, as businesses are going online and cloud is helping connect employees across the globe, security is of primary concern. Digital infrastructure protection companies like ZScaler Inc. ZS are seeing significant demand during the crisis, with its shares rising more than 100% in the last three months.
From telehealth to remote monitoring tools, digital health is developing at warp speed. These days, insurance companies are paying customers to use digital health services and thus hospitals are reporting a massive rise in virtual visits. Some even claim that remote health care and monitoring, which were nearly a decade away, is now just a matter of a few months.
Given the current scenario, technologieswhich can address pressing issues erupting from the pandemic, are poised to grow. We have shortlisted five stocks that are expected to return well.
The Zacks Consensus Estimate for its current-year earnings has climbed 33.3%over the past 60 days. Boxlight holds a Zacks Rank #1.