B.C and A.C – Change is Imminent
This contingency will definitely be part of human history. Our children and grandchildren will talk about a time before the coronavirus (b.c.) and after the coronavirus (a.c.) the changes will be taking place, some immediate and others, a few weeks later. Social and economic changes will accelerate, something that otherwise would have taken years to complete. The economies will eventually recover from the recession it has caused. But when we return to normal, it will no longer be the same, when the masks reveal the faces again, the pandemic will have permanently reshaped our social and economic behavior.
With people isolated and far from other people, the short-term winners will be those who provide goods and services without physical contact. In the short term, e-commerce platforms, food delivery services and logistics companies will also be winners. When the economy finally improves, these gains will last mainly thanks to ingrained changes in purchasing habits. Workers who were forced to work from home are experiencing a change in their work style that saves them clothing and transfers.
In addition, many of them gain flexibility with schedules and demands outside of work. Many will discover that they prefer to work remotely and, when the crisis is over, the same companies will offer this alternative. This will cause a slowdown in real estate as companies dramatically reduce the size of their workspaces.
To survive, companies will need to reduce their workforce, automate what they can, and make the rest remote. The works will be moved first from face-to-face to home remote and, over time, will go from home remote to remote abroad.
The pandemic has forced numerous universities to teach online. The worldwide remote learning experiment currently underway can demonstrate that higher learning can work effectively. Many will eventually adopt hybrid models that limit face-to-face learning to project-based tasks and student groups. This will allow the best instructors to scale their knowledge to more students.
National and regional borders will use biometric tests to detect deadly viruses in real time and impose mandatory quarantines on travelers entering from certain countries. Airlines, hospitality and tourism will experience a sharp drop in demand, beyond the immediate consequences of the crisis.
After an initial wave of isolationism, multilateral cooperation may flourish. After an initial withdrawal from globalization, countries may come to recognize that technological and viral threats exist and therefore require international cooperation. Adopting a sense of internationalism, countries would develop international standards, monitoring systems, and coordinated response and contingency plans. When the next pandemic occurs, global systems will detect it sooner. A coordinated global response would make self-isolation orders effective, shortening the economic shutdown and saving lives.
Translated by I2T2