Scrolling through my feed and reading all those 2020 “vision” puns makes me roll my eyes. But, deep down I know how terrible this year has been and that its deepest impacts are yet to be faced.
Here's what you will learn
Can we please unsubscribe to this year and start afresh?
The world is amid a public health emergency and life as we know it has come to a standstill. With Coronavirus still continuing to spread across the world like fire, it’s having a serious impact on people, economy, and businesses. The nationwide shutdown is grinding businesses to a halt. Restaurants, hotels, airlines, and travel agencies have been bleeding the most. While critical functions and vital units are still operating under certain restrictions, small to midsize businesses and start-ups are dealing a major blow.
Let’s acknowledge the harsh truth
Businesses are falling and struggling with their budgets. Docking the thought of scaling business at harbor, many ships (read businesses) are trying hard to prevent themselves from sinking permanently. The ripple effects of this outbreak is being witnessed by employees all over the world as it has triggered unprecedented layoffs, furloughs, and pay cuts. Raise a hand if you too have witnessed the fallout.
So, companies are downsizing their workforce (or they probably have by this time) but what will happen when things begin to go back to normal and the economy starts to improve?
Wait, is your hand still up?
C’mon take it down now! The process to bounce back is going to be slow and prolonged but every company will need its biggest resource, which is their workforce, to get back in action and start rolling. That means, we all will be needing our Human Capital back to kick-off operations while still being cost-efficient. Now, how do we hit that balance?
COVID-19 will herald an automation boom.
Believe it or not, after the crisis, AI & Automation is bound to be “the new normal” and it will change the way businesses work. Even in the current scenario, AI & Automation is helping deal with unpredictable spikes in demand of businesses services despite being short on labor. There are AI-driven apps that let you know if you are prone to Coronavirus. Some apps even help in identifying the elements that would make up the antidote of this virus, thereby saving years of research. Interesting, right?!
I was reading somewhere how companies are speeding up their adoption of automation. There were call-centers using automation software to distinguish people who need live person support and then there was a completely automated retail supply chain from warehouse to grocery or restaurant, and from restaurant to home. That totally blew my mind.
Being a technophile, I’m in awe with AI & Automation. Just imagine what it can do for your business post pandemic. The right time to switch and adapt to automation is now.