At the start of 2020 none of us could have predicted the situation we’re currently living through but by now after a year and half , more of us are starting to look at what life will be like in coming months and year ahead. Specifically we are asking what impact it’s going to have on big companies, maybe we work for them or even if we don’t we buy their products and use their services. When an entire sector grinds to a halt it disrupts the way we go about our lives but there’s another side of the coin too. When big companies comes up with a new technology or adopts a new paradigm, this brings fresh opportunities to our lives and can change them for the better.
More people than ever are working from home and once this crisis is over, it’s unlikely things will go back to how they work before. We have seen how much we can get done from home and why wouldn’t companies want to reduce one of their biggest overheads- rent. It seems the future of work will take place more at home. Some people find it difficult because all the distractions in their living rooms, more co-working spaces could be a solution for big companies head offices will probably still exists but they will be scaled down and in some smaller companies might abandon them altogether. Having head office could be seen as a company status symbol instead of a necessity. Their race to develop a video conferencing tools on skype, google hangouts or zoom. If offices get downgraded, video communication is here to stay but remember that every video conferencing app has its flaws.
Quicker adoption of 5G– The pandemic has shown that we really need a fix for frozen screens, delays, bad connections and 5G offers the lightning-fast speed that can do this. 5G was on the way anyway but it is not coming even faster in the company that looks best placed to benefit from it is China’s Huawei because of the advances it is made with 5G. Health screening– In the USA, Amazon Walmart and Starbucks are using digital non-contact thermometers to check workers temperatures and airlines, malls use them on passengers and customers. It also provides an opportunities for companies that make medical devices like digital thermometers or even more low-tech ones like face masks that have now become a part of our daily lives.
Less business travel and less travel in general for the time being, it is hard to see a sector that’s suffering more than the travel industry. Airlines have been asking governments bailouts and their fortunes aren’t likely to change for a while until at least either a vaccine comes out or treatments that can keep the virus check are developed. In aviation, social distancing isn’t really great for the bottom line it could mean a rise in air fares and goodbye to budget travel for a while.
Big wins for Pharmaceuticals– If airlines have pulled the short straw in the pandemic, it looks like the pharmaceutical companies are definitely sitting pretty. Most big pharmaceutical companies have ramped up production and many of them have been getting goodwill for donations they have been making that include facemasks, free medical consultations. Pharma has also seen gains on the stock market since the start of the crisis and their figures are likely to stay positive well into the future.