The world has recorded a fair share of global shifts since the past millennium. This year marks the end of a decade and we know how it is going so far. This year is proving to mark a turning point for the world especially with the on-going pandemic. We saw how the superpowers of the world prepared for an economic and arms war, but totally ignored the risks of a viral outbreak. While some countries are waking up and investing to contain the viral epidemic, others are still in illusion and want to save their economies rather than their people.
In the wake of this pandemic, we are seeing new shifts in technology and businesses. As the outbreak led to the global order of social distancing and locking down, masses innovated ideas to implement technology to businesses so they can survive.
COVID-19 Sets New Base Model for Businesses:
Businesses in 2020 are finding it hard to maintain their workforce and former sales glory. With people in lockdown, businesses have a very scarce workforce that is showing up to work but that too limited in effective tasking due to social distancing.
Businesses that can bear the heft of their employees working from home (like social media marketers and teachers) are finding it easier to stay afloat in the current market. Employees too, are rejoicing the perks of remote work as they sit down with their families and can work in their lazy outfits. While businesses that rely heavily on the physical presence of their workforce such as cab services and factories are drowning and are dismissing masses of employees.
Skeptics still prevail:
Though all professions rely heavily on technology, some people are still skeptical about the latest technology and its use by corporations. People are still cynical about the newer technology as we saw the 5G rumours and burning down of the 5G towers in England. Traditional and conservative people will accept technology in little aspects such as to block restricted calls but won’t trust their entire business presence to depend on technology and we don’t blame them. Although, these newer times require us to incorporate technology into our livelihoods for our own benefit.
E-commerce is not a new concept but some people were still hesitant of investing in an e-commerce website of their existing brick and mortar business. This hesitation to invest was due to the fact that these businesses had enough flow of consumers to their shops. Now due to lockdown, every business requires an effective online store that consumers can go to without exposing themselves to viruses.
The use of virtual currency is at its peak as researches found that paper money is a main source of transmission of viruses. It is beneficial for organizations to invest in virtual currency now due to its high demand.