Digital Acceleration In The Time Of Coronavirus
We all knew technology would be a disruptive force in our lives.
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Updated November 2026. This was first published on 22 November 2022. The idea is the same. Any number below is what the original piece said then. It is not a new count.
Key takeaways
- We all knew technology would be a disruptive force in our lives.
- But we didn’t expect it to happen this fast.
- Businesses have had to adjust to the work landscape that happened overnight, thanks to the coronavirus.
We all knew technology would be a disruptive force in our lives. But we didn’t expect it to happen this fast. Businesses have had to adjust to the work landscape that happened overnight, thanks to the coronavirus.
Businesses that weren’t prepared for the digital age received a wake-up call. This left most of them scrambling and trying to figure out how to adjust on the fly. Problems they never had before came out of nowhere and had to be dealt with like virtual meetings, migrating operations, employee productivity and mental health, infrastructure issues, etc.
Those companies that had the foresight to begin planning ahead of time were much better prepared. They were well-positioned to leapfrog their competitors who weren’t prepared. This does not mean that they could have seen this coming. they will be in a more advantageous position to come out on the other side of this pandemic, stronger.
Companies Foresight #
For instance, RXR Reality was one of those companies that well-positioned themselves ahead of time. The New York City-based commercial and residential real estate developer began investing in digital what it can do that set it apart from its competition.
“Historically, real estate has been a very transactional business. We felt that by using our digital skills, we could create a unique and personalized experience for our customers similar to what they’re used to in other aspects of their lives”, explains Scott Rechler, CEO of RXR.
Before the global pandemic hit, RXR had established a digital lab. This included over 100 data scientists, designers, and engineers working across the business to complete digital initiatives.
Their company was so far ahead with creating an app that could provide services without human intervention. This included enabling move scheduling, deliveries, dog walking, rent payments on the residential side, and real-time analytics on heating, cooling, and floor space optimization for tenants on the commercial side.
Suddenly the need for social distancing and contactless interactions was necessary for the tenants of the buildings. This allowed RXR to pivot quickly and smooth to meet this need.
RXR Reality received 2020 Digie Award – Best COVID Tech – for their preparedness.
Majid Al Futtaim Retail, a Dubai-based conglomerate that runs retail food and grocery stores in the Middle East, is another example of an company ahead of time.
The company began building its digital presence long before COVID-19 hit. They began assembling their online presence in 2015 to operate alongside their 315 brick-and-mortar stores across 16 countries. But progress was slow since they didn’t see the need for any urgency.
Then the pandemic hit, and the company was forced to speed things up. “The pandemic pushed us to accelerate our digital transformation. We are implementing things in the coming 18 months that we originally wanted to achieve in five years,” said Hani Weiss, CEO of Majid Al Futtaim Retail.
This sudden increase in demand meant Majid Al Futtaim had to move fast. They quickly converted some physical stores to fulfillment centers, but the stores proved to be too small. So, logistics managers swiftly arranged to have a 54,000 -square-foot fulfillment center tent erected and operational in five weeks. The centers were complete with frozen and chilled food rooms, making it easier to stock more than 8,000 items ready to ship.
Hani Weiss credits initiatives such as Click and Collect with its redesigned app to meet the increased demand. The app made it easier for customers to use and launched contactless payment options such as Mobile Scan and Go in its stores. This allowed customers to scan items and pay with their smartphones. These tools allowed the company to launch an online marketplace with 420,000 new products from other retailers whose stores were closed during the lockdown.
“No matter how our customers want to shop, we can be there for them,” Weiss says. “We developed this agility through the pandemic, and I want to keep it as we go forward.”.
Where Do Companies Go From Here? #
COVID-19 changed the digital landscape for companies like no technology has ever. It transformed the way we work forever, and companies have no choice but to adjust quickly. The digital acceleration accomplished in a few months what would normally take a couple of years.
This new environment forced companies to adopt new strategies and plans for the future. This will would be no easy task, especially if they weren’t prepared.
companies have to change immediately or risk being left behind and having their business disappear or become irrelevant. They need to make better informed and faster decisions, focusing on automation, real-time risk assessment and mitigation, continuous value delivery, and agile strategy.
Functional leaders should begin thinking about speed and efficiency if they haven’t started already. Cut out anything that drags or slows down processes, procedures, or customer interaction.
When we look at the future of work, there must be a few factors that need to be addressed. Things such as intellectual, social, and human capital have to be considered, and decisions have to be made to best move forward.
Companies must use individual and group decision-making that includes different the people involved. These would be technology folks, analytics people, subject matter experts, and creative out-of-the-box thinkers.
The use of technology will be a crucial piece in bringing people and ideas together to work as one. Various communication methods such as social media, apps, chatbots, and video conferencing will be front and center for your business to be successful.
Lastly, businesses need to understand how best to communicate with vendors and external parties, and customers to survive in this new landscape.
Conclusion #
The coronavirus has sped up digital acceleration like nothing any of us has seen before. The business was headed in that direction, albeit slowly. The way people work and shop has changed forever. Tons of companies shut down brick-and-mortar stores, with a number of them to never return.
These went from a physically interactive environment to a more technically intensive atmosphere. Many stores couldn’t pivot this way and had to deal with the harsh, grim reality. But those that took advantage seized an enormous opportunity to put them on the road to success.
Digital acceleration caused a huge interruption in our lives, but we will all be better for it in the long run.
Questions and answers #
What is the main point? #
We all knew technology would be a disruptive force in our lives.
What else did the original piece say? #
But we didn’t expect it to happen this fast.