Over the past few weeks, the coronavirus outbreak has made us realise how interconnected the whole world is. With an increasing number of cases of the deadly illness raising fears of a global pandemic among people, the impact of the shutdown across the world has started to hit the tech industry of the country.
At the time of writing, there have been more than 400,000 confirmed cases of COVID-19 with more than 21,000 deaths; along with more than 140 countries and territories have reported coronavirus cases, and the international stock market has witnessed the biggest dip since 2008.
While we are talking about the reeling impact of the virus on human life, the massive disruption in the analytics industry is also worth mentioning. According to Pravin Rao, Nasscom vice-chairman, also the COO of Infosys, the IT sector is going to see some indirect impact with the sudden outbreak of this global pandemic — COVID-19. In fact, economists have estimated that this virus outbreak could potentially reduce the global GDP by almost 0.3%.
This coronavirus outbreak is acting as a reality check of the fragility in the systems of doing business and the uncertainty associated with it. It has already caused significant disruption throughout the tech industry, with huge tech conferences and trade shows cancelled and companies expecting to miss their revenue forecasts. Additionally, the virus is shaking up business and consumer behaviour on a massive scale.
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