The global pandemic has disturbed commerce and in few cases has even halted the world in its tracks- because of which almost every industry is reassessing the way it operates. For a few businesses, required changes to tech systems and functioning will be more drastic than others, and it is essential for individuals to be prepared if your firm is facing a significant post-pandemic alteration.
Owing to the global disruption caused by the virus outbreak and with a view to assist business leaders’ progress, the members of the Forbes Technology Council were asked on insights as to which industry operations in the virus outbreak have revealed that they are in need of major tech shifts. Their top insights are as given below:
- Food Production and Distribution:
We’ve made major progress over the past 5,000 years, yet this crisis showed us how unprepared we are when the system breaks down. We don’t have a robust and resilient distribution system, processes built for high volume and throughput cannot easily adjust to small requirements, and there is wastage. Sustainability is at risk for those who can’t prepare any better. There’s a complete imbalance. – Tej Luthra, Merlin International
- AI-Telebased Health:
I believe we have the technology to improve telehealth services by using AI while ensuring that personal data remains private. We can make use of wearable technology to detect unusual patterns in an individual’s heart rate, oxygen levels, sleep cycles, etc. and notify doctors of potential issues with their patients. – Jesus Bello, Sabal Tech
- Social Media:
Social media channels can provide information to help manage uncertainty in times of crisis; however, an influx of fake news can cause the opposite result. Although many social platforms have increased the number of content moderators doing this important work, tech such as AI and machine learning can help to quickly flag, identify and categorize fake news to reduce its proliferation and impact. – Michael Ringman, TELUS International
- Digital Banking:
With people everywhere required to avoid nonessential contact, digital banking is really the only choice. The financial services industry is working hard to modernize digital services to serve customers and keep business going. Banks have the opportunity to capture new customers by modernizing their remote account-opening processes to protect against new types of fraud. – Will LaSala, OneSpan
- Restaurant Services:
This crisis is having a profound impact on the restaurant industry. Operators will need to re-envision the experience, creating one aligned to new guest concerns and expectations. Using a combination of mobile technologies, location-based services, virtual kiosks, and dynamic delivery solutions, successful operators will embrace the tech and approaches that make a more “contact-free” experience possible. – Jason Pratts, Appetize
- Medical R&D:
Advanced risk modeling, early warning, testing and detection, tracing, and vaccine development can all be improved, refined, and accelerated to usher in technological innovation in healthcare—particularly advancements in machine learning and artificial intelligence. Leading institutions pushing the envelope, like the Vector Institute, Max Planck Institute, etc., will be ones to watch in this space. – Jeremy Mullin, Coral Health
Though the virus outbreak has disturbed the industry operations majorly and needs a lot of necessary changes to be done in order to get functioning back on track, the above mentioned insights on tech upgrade in such times can be beneficial to boost growth of various industries.