COVID-19 has changed many things about life and going virtual has been one of the major changes that could be here to stay. From online school, to internet video chat room dating many are learning to embrace the change. One area that has also been affected is conferences, as many suffered cancellations some are not considering going to virtual summits. Already cancellation costs of over 10 major tech conferences because of COVID-19 has resulted in over $1.1 billion in losses. But digital conferences can help cut those costs. A typical conference uses 20% of their budget on the venue, another 20% on food and beverage costs and another 20% on equipment, usually less than 5% of the cost goes to the program design and speaker fees. Already Google Cloud Next is working on transferring its conference to an entirely virtual experience and many other tech giants are sure to follow suit. Find out more about the future of virtual summits here.