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Painful Delivery of The New Economic Age

Shocks and crises are breaking down established patterns of work in most industries. But none of the recent crises has made a difference as rapidly as the COVID-19 pandemic. The quarantine measures and the monstrous burden on the health system are temporary phenomena, but big changes will remain after the crisis is overcome.
COVIDigitization: Painful Delivery of The New Economic Age
Transforming the economy is a vital process
Transforming the economy is a vital process
Online interaction is convenient for all parties
Online interaction is convenient for all parties
Building new business models is a necessity now
Building new business models is a necessity now
Old selfish models do not work in the face of global challenges and are unable to compensate for the volatility of current economic interactions. The system is being radically restructured in the face of a global problem.

Closer to Distance Learning

Technology that allows people to interact remotely has already come to the top of the charts. Many universities, colleges and schools are moving to online learning systems. This transition looks expected and appropriate and is not going to be reversed after the crisis. Online learning brings good results: 92% of studies show that online learning, if not better, is as effective as a traditional form of learning. Online students do not have to spend a lot of time on the road: this will save students' efforts and reduce the burden on public transport.

Work, Solutions and Control Via Internet

Online conferences are suitable not only for training but also for business decision-making. Many office workers and managers have now moved on to remote interaction. This shows that most business challenges do not require the direct presence of employees. Online services provide a wide set of tools for online work, from remote verification and authentication to tracking progress and efficiency.

Remote work allows employees to concentrate better, but it also supports collaboration. Online community workers include discussions of collaborative project management, search and information sharing, informal and official.

The official online interaction is convenient for all parties because it registers all the details automatically. Services are already available for signing contracts and signing documents over the Internet. Even for large transactions, partners can no longer invite representatives and lawyers, making a deal through an online service.

More Online Shopping and Services

Retail stores and other services are forced to move to online. Now, companies interact directly with customers through online platforms. This marks an even faster promotion of D2C marketing, which is much more accurate in predicting consumer behavior, adapting more flexibly and quickly to any market changes. Customers become part of the production and sales process and become more loyal through constant interaction with companies.

Instant response and constant communication between buyer and manufacturer become possible both in local and in large-scale production due to IT and the possibilities of constantly updated software.

More Technology, Less Human Factor

Business from producing to end consumer now and in the future consist of digitized processes with minimal human involvement.

New technologies can automatically track and manipulate both production and supply chains. Continuous automatic tracking, workflow automation, regular analysis and optimization will result in significant savings in resources and costs.

Online services are increasing the pace of implementation of new technologies that allow you to work with both things in real life and data on the network. The combination of IoT and Blockchain provides a comprehensive solution for a list of challenges.
Transforming the economy is a vital process
Transforming the economy is a vital process
Online interaction is convenient for all parties
Online interaction is convenient for all parties
Building new business models is a necessity now
Building new business models is a necessity now
1. Remote monitoring and automation. Internet-connected devices constantly monitor manufacturing and delivery processes, storage conditions and product location. This will relieve employees of the obligation to regularly carry out manual checks and manually fill out tables. Data collected by devices is not limited in volume and is automatically analyzed to find better ways to optimize processes.

2. Authentication and data security. An internet connection usually means vulnerability. Unauthorized intrusion, alteration and data forgery become impossible when information in the system is distributed on the Blockchain system. Only authorized devices and individuals can make changes to the database.

3. Clarity and brand trust. The preservation of information and the automation of most processes in production and delivery means traceability and power of attorney to the manufacturer. A better understanding of products and greater trust is a good and sustainable reputation for the brand.

Building new technologically equipped business models is no longer plans for the future, but a necessity now. Change happens at lightning speed. We must realize that everyone is in the same boat. And it is necessary to remember this not only during the storm but also during economic prosperity, fairly distributing material values among all participants of economic relations.

Transforming the economy is a painful and expensive but vital process. Everyone should now be aware of the importance of their business and the importance of the work of transition to Internet services and direct interaction. The pandemic forces us to digitalize global consciousness and look for new technological processes, in fact, raising questions of survival for the state and businesses.
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