How Could The World Change After The COVID-19 Crisis

One of the things that we have seen that's really quite important is that different sectors of the society of the economy are having very different experiences. There are some parts that are still growing reasonably well. Enterprise software, hospitals... they're getting back and the truth is that more generally healthcare is actually thriving and is likely to continue to grow online retail is obviously taken off in a big way.

Small business it's been catastrophic, it's a human crisis for every single small business person and the people that work with them whether it's the cleaners on the corn or the restaurant in the middle of the block or the bookstore down the street. All of them are suffering the hospitality industry, hotels, theme parks, rental cars... all that transportation not too many people using these days so what we're seeing is a high degree of variation in the middle some are doing good like financial services, telecom manufacturing...

Before the pandemic have been dramatically accelerated and obviously one of the most profound is remote everything. We all working from home, we're buying from home, we're going to the doctor from home, we're learning from home, we're socializing with our friends on video from home, and so. The technology of remote everything is going to expand and all this technology was invented.

Before the pandemic and so we're using it for things it was never meant for, but it's going to get much better. All the tools of remote interaction whether for medicine for education for retail even socializing are going to radically improve and this is an opportunity for innovation the processes around. It how you do enable your customers to interact with your suppliers and so on.

In this remote world of remote everything becomes a huge opportunity. We already had a trade war and challenges to the US and China relationship, and now people are because of the pandemic looking for much more resilient supply chains things that will not be affected by pandemics. And we're seeing a lot of realignment like that going on and that presents a set of opportunities.

Sustainability has been an issue for a very long time, and the pandemic provides some unique opportunities, we're driving less, flying less, consuming less, and so on. What does that tell us about what we really need to do? It'll be a long time before we get on an airplane to fly halfway around the world.

We're learning a lot about what we're how we could live to be much more sustainable, and then finally all of these things require a digital transformation, moving almost everything into the digital realm and so what we see not only in our business but nearly universally is everybody is thinking through how to operate and live in a digital world. So all of those things together enable an enormous opportunity for reimagination and reinvention to provide new products, new services, new ways of doing business, new ways of interacting, ways of doing it in a much more resilient and sustainable.

Challenges and opportunities also should be in front of us thinking about how we can build a better world out of all this, not simply have our heads down and right in light of the massive impacts of the pandemic. So we do mean to minimize the consequences this is a human and painful crisis for nearly all of us. But there is hope beyond the crisis and there is an opportunity to build something far better in the years beyond the pandemic.


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