The COVID-19 pandemic forced companies to take action to accelerate innovation. Let us explore 3 business innovations amidst COVID-19 that highlight new ways in which companies adapted to the difficult situation. Moreover, these innovations have proved their potential and are here to stay in the long run.
3 Business Innovations Shaping the COVID-19 Era
1. Telemedicine
There is barely any industry that went unaffected by the pandemic. However, the healthcare sector was required to serve with the top efficiency as it faced the maximum demand. Hence, it had no choice but to think of new ways to treat the increasing number of patients more effectively. Due to lockdown, patients were not able to visit doctors’ chambers for checkups. At the same time, people were getting sick way more than usual.
To resolve this contradiction, telemedicine came to the rescue. Using communication channels such as video calls, telephonic conversations, and online chats, patients were able to consult doctors without leaving their homes. Eventually, as telemedicine became popular, startups combined it with technologies like artificial intelligence (AI), Internet of Things (IoT), virtual reality (VR), augmented reality (AR), and so on, making it closer to real-life sessions.
Now, even though things are restoring to normalcy, a lot of people prefer telemedicine over physical visits due to the convenience that the former offers. One great example here would be oVRcome, a New Zealand-based startup that we had featured as one of the VR startups to watch in 2022. It enables patients to take virtual reality exposure therapy sessions with their doctors remotely.
2. E-learning
Lockdown and social distance restrictions kept students at their homes during the pandemic. As a result, the education technology sector bloomed like never before! A few weeks into the lockdown, educational institutions started using online communication tools to offer the classes virtually.
Before the pandemic, people were not very enthusiastic about online education. But, once the situated forced them into it, more people realized its benefits. Now, geographical distance is no more a barrier. A student willing to pursue higher studies from abroad need not arrange for relocation. They are able to take the same classes in the comfort of their homes. Similar to telemedicine, realizing the boom of the edtech industry, companies are readily utilizing advanced technologies to make the e-learning experience more seamless for students and teachers.
3. Work From Home
Just like students could not have given up their studies, organizations worldwide could not have shut down. They too started using the same online communication channels to facilitate work from home. And, in no time, tech companies started developing software solutions catering specifically to corporate companies. These tools make the virtual working environment more interactive and fun with immersive technologies and AI, among others.
Once employees and companies started seeing the advantages of working from home, big corporates and startups alike adopted work from home and hybrid work mode as the new normal. One of the most popular examples would be Twitter. Post the outbreak of Covid-19, Twitter announced work from home for its staff. Just after a couple of months, it made another big announcement. It decided to make work from home permanent except for those whose work nature requires them to be physically present at the office.
It’s time to hear from you — what business innovations did your team bring about during the pandemic that helped your organization to thrive amidst the pandemic? Get in touch & let us know!
