ceoitbox

  Corona, floods, wars, civil unrest, bank collapse - it's just one bad news after another. Maybe, 2020 was “The Perfect Storm” . Any one of these calamities is enough to shake the foundations of any business, but together, they have put thousands of businesses at risk.  If you are a traditional business, this would be  a harrowing time for you. Even before this -  margins were thinning, people prefer buying online, there is competition not only from within the country  but even outside, costs  of everything is going up, employees can leave  you at the drop of a hat etc.  However, are these the symptoms or the disease ? Who is the real enemy here ? I feel that none of these events are a real threat in  themselves, the only threat is the Speed of Change . For decades we have seen businesses setup once, and continue to flourish  for decades altogether. Nowadays, this seems to be a rare phenomenon. Even if the business does survive it may not resemble what it looked like 5 years ago

If you are a traditional business, this would be  a harrowing time for you. Corona, floods, wars, civil unrest, bank collapse - it's just one bad news after another. Any one of these calamities is enough to shake the foundations of any business, but together, they have put thousands of businesses at risk.  Technology has become a savior in these turbulent times.  Even before the pandemic , new technologies such as Cloud, IOT, Big Data, 5G, AI, Robotics, Machine Learning etc. are allowing us to work in very different ways and at a different scale. Many newer technology based startups have achieved valuations in a couple of years that their brick and mortar counterparts  couldn’t do even after decades in business domains like hotels, taxi, investment, travel bookings, education, shopping etc.   During the pandemic Technology has helped many a business to not only keep their operations alive but even grow. Some of the Technologies that have seen major evolution are - Video Collaborati