Pandemic Result: An Innovation Explosion

Pandemic Result: An Innovation Explosion

wham bamThe havoc the COVID-19 pandemic is wrecking on the world and peoples lives is well known. In the United States nearly 100,000 people have died, over 1.5 million ill, millions out of work and companies are continuing to lay off more workers. In the near term, there is likely to be less cooperation between countries, international supply chains are unraveling and the potential for conflicts are increasing. It is easy to see the negatives. However, something else is happening that will be transforming. The world and especially the Unites States is undertaking an innovation explosion. With sudden focus and incredible speed, businesses are pivoting to address the pandemic and its effects on their markets and staff. Universities and research institutions are examining new science to find cures, vaccines and therapeutics for the disease. Trillions of dollars are being thrown at the challenges we are facing. New ideas, businesses and ways of doing business will come from this changes. This is similar to what came out of the space race, but this race is larger and world-wide. The World Economic Forum has been looking at this innovation explosion. One of their articles is here. Rapid change is always disquieting, fearful and hard: but also creates new opportunity for the nimble. This is likely to be one of those great periods when there is a sudden explosion of ideas and innovation that takes place around the world.