Covid-19 is a new call to keep calm and change everything
• Crisis spurs technological innovations and offers growth potential for greener companies
Iwrote about the coronavirus in this column last week, and now I’m writing about ... coronavirus. Yes, the world keeps spinning, capitalism keeps capitalising, but at the risk of sounding alarmist I struggle to think of a bigger story right now — or at least one with more global applicability, twists, turns, angles, tentacles and repercussions. Some of those include literal death, market volatility, shuttered borders, supply chain interruptions, opportunistic politicking and good ol’ fashioned opportunism.
At the same time, in the face of real, systemic need we are seeing some incredible innovation emerging. In Asia (which is a few weeks ahead of us in terms of tackling this and leap years ahead in tech adoption and spread) drones are being used to scan crowds, taking temperatures and potentially spotting undiagnosed sick people or those flouting the self-isolation and quarantine directives.
Pattern recognition and artificial intelligence, applied to video feeds, can help enforce the use of masks in mass transport systems, for example. In Singapore, people are using the QR code scanner apps on their phones to create an accurate map of their movements, so they don’t have to play memory games if the need to track their interactions (and potential infections) arises.
Covid-19 is also a real-world disaster testing our systems like never before. What is the real capacity of our virtual services when almost the whole world decides to work from home? Web conferencing and collaborating services are going to be stretched. On Monday Microsoft Teams, a popular such service, went down for about two hours as millions of professionals logged on to start their week. This is an opportunity for them and their competitors to build in agility and robustness.
And while oil prices tank and dirty industry flounders, there is huge growth potential for greener, sustainable companies.
As the UK’s Independent reported this week, as stock markets have experienced “historic crashes” some firms are getting a boost. Collaboration tool provider Zoom’s share price has risen 50% or so this year, taking its valuation to $29bn.
While some schools are closing doors, others have shifted to digital lectures and consultation. There will be teething issues, but at the end of it there will be no excuse to not accommodate students with mobility or disability issues, now that we’ve pivoted to teleconferencing.
A real, compelling human crisis like this is also a powerful tool for people to demand that companies live up to their promises and act in their customers’ interests. We’re seeing countless global examples of this — sometimes led from the front, and sometimes prodded towards progress by an angry, tweeting crowd. This includes advocating for free access to otherwise premium tools, and companies zero-rating services.
POTENTIAL CLIENTS
Small businesses and entrepreneurs are leading here, arguably showing the big guys how to do business ethically in times of crisis — like personal trainers and gym instructors who have opened up their content portals to nonsubscribers so you can follow a yoga class while practising social distancing.
They might be offering their services freely for now but are likely gaining brand recognition and potential future clients at the same time.
For those who don’t or won’t adjust, there will be social backlash. Just ask the Tennessean who bought up more than 17,000 bottles of hand sanitiser to resell them for up to $70 a bottle on Amazon. Thankfully that “entrepreneur” is facing price-gouging investigations and has promised to donate his liquid loot. He might have seen the gap, but a post-corona world is hopefully one that is a little more aware of its interconnectedness.
I’m not ahistorical enough to suggest this has the same crucible effects as a war, but I do see parallels between these narratives of “community” and “sensible reaction”, and the slogans of wartime Britain, urging us to bind together and “keep calm and carry on”.
If we all do exactly as health and government officials tell us, the best-case scenario is that in a few weeks we will be asking what the fuss was about.
We will have tried and tested tools and innovations, and a new market for sustainable services. It’s a funny thing that if we react with caution now, it will appear later that caution was overkill.
The worst-case scenario? Honestly, I wouldn’t want to hazard a guess. Now is really not the time for amateur epidemiologists. But as with any crisis, we are seeing the best and worst revealed in people, and the tech sector is not immune to this.
SMALL BUSINESSES AND ENTREPRENEURS ARE SHOWING THE BIG GUYS HOW TO DO BUSINESS ETHICALLY IN TIMES OF CRISIS