How Businesses Are Adapting To Covid-19 In A Globalized World

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The COVID-19 pandemic crisis has tested the limits and resiliency of most businesses.  One theme among those organizations that have managed to survive and, in some cases, even thrive seems to have been the use of technology. 

Whether an economic crisis is natural or man-made, because we now live in a global economy, such disasters can have a lasting effect. According to a recent article appearing on the Forbes Magazine website, however, technology can help mitigate losses to a company’s bottom line.   Below are some of the ways that businesses have found to use technology to support their operations, even during times of crisis.

Communications Technologies 

With most of the world on lockdown and many parts of the globe having shelter-in-place orders for their citizens, communications technologies in the form of virtual meetings have helped workers to do their jobs remotely.  Through the use of real-time meeting apps such as Zoom, Join.me, and Cisco’s Webex make holding meetings, however frequent, almost effortless. Teams are also able to meet and collaborate on development tasks with apps like Slack, Trello, and similar apps offered through Microsoft and Google.

Artificial Intelligence 

Most customer service representatives and call centers operate in departments that have workers in close proximity with one another. Because of social distancing recommended by both the Centers for Disease Control (CDC) and the World Health Organization (WHO), many companies have either allowed their customer service reps and technical support workers to work remotely. Others, however, are relying on artificial intelligence or AI to answer the most frequently asked questions, or redirected customers to a company website where orders can be placed virtually. 

Planning & Problem Solving

The current economic crisis due to the pandemic has made businesses of every size have to take a look at how they strategize for the future.  Retailers, for example, have been using flash sales of their current inventory, and have made a sharp pivot toward providing necessities and health-related items for their customers.  Businesses such as real estate agencies, for example, are offering virtual tours of properties to entice buyers yet keep both buyers and sellers safe from potential exposure to illness.

Being able to adapt and overcome the crisis can actually end up helping some businesses to overcome the current downturn and help them to thrive during the long process of opening the economy back up again.