The Future Of Work
The COVID-19 pandemic has fueled major changes across society. One of the biggest of these changes has been in where and how people work. Here is a look at the biggest work-related, pandemic-driven trends.
The Possibility of Long-Term Change
Working from home became widely accepted thanks to the pandemic. However, as vaccines make it possible that workers could soon return to work in-person, it is still possible that many businesses will choose to continue allowing remote work. In October 2020, for example, 53 percent of executives around the world were thinking about reducing office space.
The Role of Technology
Technology could also drive permanent changes in work. Video conferencing, cloud computing, and other technologies that make it possible to work outside the traditional office were invaluable during the pandemic.
Some technologies also drove efficiency that helped companies weather the struggles that a pandemic economy brought, such as supply shortages. The Internet of Things and machine learning, for example, made it possible for businesses to do more with less, while more than half of 950 companies surveyed reported using artificial intelligence to at least some degree.
In addition to new technologies, work is being driven by new services that are growing in importance to the world of work. Venmo, Paypal, and other cashless payment methods, for example, are transforming how people pay for goods and services. In addition, blockchain is offering a secure way to manage currency.
The transformation of work is offering new opportunities for businesses, employees, and investors who are seeking a profitable and rewarding experience in a pandemic-influenced world.