COVID-19 will reboot the world into digital actuality and after the disaster, earn a living from home fashions are more likely to proceed and enterprise journey is more likely to be curtailed as digital conferences have proved to be simply as efficient, Biocon Executive Chairperson Kiran Mazumdar-Shaw on Saturday mentioned.
In a weblog submit, she mentioned cell and web banking have additionally seen a surge for the reason that viral outbreak. The new world order will now grow to be a digital actuality, she added.
“The seismic events unleashed by the COVID-19 pandemic will have a powerful impact on the world we live in, changing it in ways we had never imagined were possible. The economic damage is likely to be unprecedented,” Mazumdar-Shaw mentioned.
The world economic system, price USD 90 trillion firstly of the present monetary 12 months, would have misplaced USD 5 trillion and moved into recession by the point the subsequent monetary 12 months begins, she added.
“COVID-19 is the reboot button that will trigger a system-wide overhaul. A year from now, the world we will live in will be very different. It will impact how we live, how we work, and how we use technology,” Mazumdar-Shaw mentioned.
To quote a latest McKinsey report, “In this unprecedented new reality, we will witness a dramatic restructuring of the economic and social order in which business and society have traditionally operated,” she added.
This COVID-19 outbreak is a lesson that expertise has many faces and being besotted with just one utility of computational science is harmful, Mazumdar-Shaw mentioned.
“For humanity to survive, we will need a multi-disciplinary approach to advancing science and technology, combining biotechnology, biomedical technologies, biological sciences, environmental sciences, etc,” she added.
The novel coronavirus has uncovered the massive shortcomings in public healthcare techniques, particularly in developed international locations the place they’ve largely remained static since World War II, she added.
Mazumdar-Shaw mentioned the governments should herald insurance policies to handle important healthcare infrastructure, strategic reserves of key provides, and contingency planning for medical tools, diagnostics, medication and vaccines.
“COVID-19 will also cast a long shadow on our social and cultural lives,” she added.
What repercussions these modifications can have on the form of human society solely time can inform, Mazumdar-Shaw mentioned.
The post-COVID-19 world is unlikely to appear to be the “normal” we have now grown accustomed to within the latest years, she added.
“Ultimately, the greatest lesson that COVID-19 can teach humanity is that we are all in this together, that what affects a single person anywhere affects everyone everywhere, that as homo sapiens we need to think and act unitedly rather than worrying about race, ethnicity, nationality, religion, economic status, and such artificial groupings,” Mazumdar-Shaw mentioned.