“How might COVID-19 impact our future?” is the simple question Adil Najam asked global experts across a variety of fields ranging from finance to literature. On January 13th, Pakastani academic Adil Najam published a Fast Company article entitled “I spoke to 99 big thinkers about what our world after coronavirus might look like: This is what I learned”. Based on his conversations, Najam pointed to four distinct reasons why life as we know it will not be “going back to normal” following the pandemic. Najam concluded that disruption will accelerate, politics will become more turbulent, pandemic habits will persist, and the crisis will create opportunities moving forward following COVID-19.
Business, like all other parts of life, was not immune to the hardships that arrived with the onset of the pandemic, nor will it face an easy return to normalcy after COVID-19. In this article, Turbine Labs’ VP of Strategy Jason Moriber reflects on how companies can navigate each of these four lasting impacts the Coronavirus may have on the future of business.
Disruption Will Accelerate
The article asserts that the global impact of the crisis will accelerate pre-existing transitions. Whether in the journalism or education field, each of Najam’s interviewees agreed that global change is imminent. Jason asserts that one key disruption is how and when people process information.
QUESTION: In a year marked with many firsts and transitions for companies on a global scale, what has been the most welcome disruption to the business world? What transitions already in place did you feel were accelerated by the Coronavirus outbreak?
“[The pandemic] has given people more time to think, meaning there is more data to process and there is more available to them. When you have that extra time, because, say commuting time is now cut away… people now have more time to process information so I think the world has has has suddenly gotten smarter”
“And so I think for us, for Turbine support and because our whole job is to make smart people smarter. And with all this explosion of information and people sharing ideas. I think you still need a way to filter it at all and that’s kind of what we’ve done.”
Politics Will Become More Turbulent
Najam also predicts that politics will become more turbulent in a post-pandemic world.
There is a grand scale of uncertainty as to what the global political landscape will look like in the future. COVID-19 has drawn attention to questions surrounding government competence, unilateralism, and the state of democracy amongst other topics.
QUESTION: How can Turbine Labs enable businesses to address and navigate political turbulence as they advance into the post-pandemic era?
“When companies started to put their servers, right next to the New York Stock Market, so they could have the 100,000,000th of a second faster connection to the stock information than somebody on an ISDN line, or a wireless connection in Kansas City.….so that they could get that information and they can make their trade faster by the millisecond than anybody else.”
“I would say that Turbine Labs provides that function on a whole host of questions and answers in data. I think that our process, our methodology, a mix between our artificial intelligence and our digital journalists enables us to get our customers the information they need faster than anybody else”
Pandemic Habits Will Persist
The Fast Company article predicts that habits developed during the pandemic will persist long after the pandemic has subsided. Vala Afshar, chief digital evangelist at Salesforce software company argues that in the post-COVID-19 world “every business will be[come] a digital business”
QUESTION: Do you agree that every business will become a digital business in some aspect? What adaptations to business taken during the Coronavirus do you envision persisting as we return to a new normalcy?
Jason comments that coming out of the pandemic, we will see growth businesses at all different levels in their development. “If you [want to] get digital and do it smartly, we think you probably want to be in the growth business”
Hypothetically, if “you have not yet undertaken digital transformation. We can empower you with tons of information on how to do that”
Turbine Labs AI-powered platform can identify “Opportunities, risks, competitors steps you need to take. If you’re more mature in that we can say, well, let’s do it let’s look and see what you’ve accomplished and what some of the gaps were maybe things you missed and now, some opportunities that you might have not have considered going forward”
The Crisis Will Create Opportunities
The last section of the article mentions key opportunities for environmental, social, and public health reform coming out of the COVID-19 pandemic.
QUESTION: From a business executive’s standpoint, What opportunities do you see for businesses to continue to grow and enable growth and equality in these sectors moving forward?
Moriber advocates that each business has the opportunity to impact change, but must make the choice to do so. “I think the pandemic has shown a lot of the problems that can be solved. Food infrastructure, medical med health care infrastructure, etc.” and, “I think there’s a lot of opportunities for companies to step up, step in and lead in these spaces”
“Our intelligence can help these entrepreneurs, social innovators social entrepreneurship, figure out those opportunities, but for sure the pandemic has uncovered tons of them now”
“We are giving you information faster, better information faster so you can make quicker decisions, meaningful decisions without guesses or errors. So we can, we can truly empower businesses to make those decisions that matter”
“We need to ask ourselves what world will come out of this…What is the world we want to live in?” -Noam Chomsky.
Across all industries, change in response to COVID-19 is inevitable and occurring rapidly. Whether it be brand new entrepreneurs building on ideas hatched in quarantine, fresh business models that require faster information processing, corporations undergoing digital transformation to stay competitive in their field, or companies tapping into their potential to be leaders that drive social change, the world after coronavirus might look quite different as businesses propel out of the pandemic with new ideas and processes.
Turbine Labs enables organizations to adapt and stay informed in response to the pandemic with the most accurate analysis and insights, exactly when needed. Interested in learning more about how Turbine Labs can best assist your needs? Schedule a demo with us!