WHAT ARE THE NEW POST-COVID INNOVATION TRENDS 2020 ?
The pandemic has put all exponential tech innovation trends into hyper speed. This crisis will drive revolution in science and business. Whole sectors will have to be reinvented and redefined. Healthcare, education, retail, entertainment, travel and hospitality industries will all have to be reinvented.
Overall business trends:
Pandemic had an asteroid impact on all business industries.. Digital transformation has happened in many organizations overnight. Trends switching to online and virtual will continue to grow. Which means all business dinosaurs will now extinct faster..
Business models for service based businesses like Uber will have to change.. Companies that will be able to provide recurring revenue.. New companies will have to learn how to become profitable from day one. Companies will have to learn how to be sustainable and make money as soon as possible.
Future of work:
Analysts are predicting a continuing trend of most businesses switching to remote work.
New types of jobs will appear due to automation.
Since many employees have been cut off, it will be easier to recruit the best talent for remote work. We ll have to learn how to manage remote workforce. Running a business will be managing work streams by small teams.
As thousands of companies will get digitized and switch to remote work. All of them got a crush course of how to work remotely and now will be cutting their office rent costs and hiring best talent from anywhere in the world cheaper.
With all the online conferencing and project management tools for remote work are already there. Quality of video will be improving. As amounts of data will continue increasing the growth of hybrid cloud solutions is projected.
Consumer behavior trends:
Consumers already tighten their belts, and they will continue to limit their spendings to minimum. In the situation of global crisis and uncertainty, consumers will seek for safety (to work and eat at home and protect their health), trust, control and consistency. More AR solutions will be invented to improve people’s experience, phones will be continuously dematerializing into some kind of AR wear.
A lot of innovation will happen in the healthcare industry..such as AI robotic automation that can replace IRP software..AI solutions can already be very accurate and inexpensive, that will reduce the cost of healthcare. More VR applications for healthcare, f.e surgeries. More solutions will be developed to improve people’s quality of life - there will be many solutions developed for preventive medicine, such as bio sensors that can track all various body indicators and monitor all health parameters, updating them realtime. Further development of telemedicine is projected. There will be lots of innovation in biotech.. T-cells, stem cells, genetic therapy.
During the quarantine all retail had to automatically switch to online retail.. Anyone who wasn’t purchasing online has basically been forced to learn how to do it. Online retail is a growing trend. In 2018,1.8 billion people around the globe purchased goods online. In the same year, global e-retail sales amounted to $2.8 trillion. And by 2021, global e-retail sales are expected to grow to $4.8 trillion. Next generation retail stores will be adding high-touch customization services to their clients, f.e. Such as AI personal shoppers. The pandemic crisis will mark the beginning of the new retail era dominated by VR, AR and Spatial Web technologies.
Restaurant and Entertainment Industry:
30-50% of the restaurant industry as we know it before the pandemics will disappear and will have to be reinvented, starting from autonomous delivery robots, deliveries of the pre-cooked food, white gloves service and kitchen as a service. There will be Innovation in take out services for restaurants (delivery and set up), personalized service, provided by robots..
More bio security systems will be installed at the places of social gatherings: f.e drones can be flying with thermal cameras at the places of social gatherings to monitor people who are potentially sick. People will have to be wearing some kind of protective wearables like some face shields that they will have to become used to, like they have to get used to car seat belts, and helmets on motorbikes.
Travel and Hospitality:
Air travel will have to become biologically safe. Ultraviolet systems to disinfect aircrafts can be implemented, new air systems that don’t recycle or circulate contaminated air. Health markers testing in the airports. Hotels will have to rethink what kinds of services they can provide with the facilities that they have.. People will be traveling less for business. Hotels should become like Wework.
Real estate industry has been disrupted. Everybody who can will go digital. Live-work spaces will be reinvented - apartments in combination with office spaces.
Education and schools will get and already got disrupted.In 2019 ed-tech investments reached $18.66 billion, now the online education market is now projected to reach $350-400 billion by 2025. Education will get equipped with AI and AR/VR and become more personalized and more available for everyone at much lower cost. AI and immersive technologies (primarily virtual & augmented reality) may augment education, offering personalized content based on student data. Smart AI algorithms will allow them to adapt their education strategy on a personalized basis for each student in real time, gamification of education is another trend.
Solutions have to be invented on how to bring the social interaction component to online education.
Trends for continuing life -long education / subscription based education. It is a time of enormous opportunities for entrepreneurs, who are able to turn world’s biggest problems into business opportunities.. It is definitely a time to start building your startup.
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