Moving from an IRL world to a URL world

In this age, transformation – technological, social, and mental – is the key to survival and growth. Technological transformations, in particular, are on the rise and adapting to them is the need of the hour.

The transition from a time when there was relatively less dependence on technology to today’s world has been rapid and breathtaking. We are not only observers of this change but contributing to new waves of it, and the generations to come will only extend it further.

As things stand, every aspect of life has a digital component to it – not least marketing and consumption. Engineers, entrepreneurs, marketers and consumers are constantly evolving and upgrading the digital world, and these restructurings are shared and adopted around the globe at unbelievable speed. Every sector, from e-commerce to healthcare and banking now has digital foundations.

While digital growth was consistent over the years, it kicked into high gear after the COVID-19 pandemic hit in 2020. That year, it is estimated that roughly 25 billion objects were connected to the internet because it had become vital to communicate and carry on with work. The world depended on digitisation more than ever.

Every business, new and old and across sectors, was quick to adapt to these transformations – it was a matter of survival as new, fully-digitised players stormed the market. The digital umbrella-covered every aspect of the operation, from product promotion to meetings and product development to virtual reality.

According to World Business Economics, an estimated 70% of the new value created in the economy over the next decade will be based on digitally-enabled platform business models. So, digital transformations are vital to the survival of any business; it helps meet challenging customer demands and equips it with tools to evolve faster in a constantly changing digital economic landscape.

As individuals, we live in a digital cocoon, accustomed to dependence on digital gadgets that we can no longer live without. Some argue that it amounts to digital slavery but it has been a boon, making work quicker, convenient and easier in ways unimaginable earlier.

Almost every query can be solved immediately online. Simple things like watching sports are now accompanied by an array of tools like instant statistics, game analyses and highlights that are new and different. Digital footprints of nearly everything are recorded, stored and analysed by public and private entities, with or without consumer awareness or permission. Digital cameras are everywhere, and consumers themselves record and publicly post more data than can ever possibly be viewed or appreciated. Even interpersonal interaction, ?nding a mate or job, seeking out information and leisure are enabled by a few clicks.

So, the shift from IRL to URL has made life easier and has come to the rescue during tough times – even if it’s not without a few downsides. In time, we will find a balance between the positives and the negatives.