LONDON – The Covid-19 pandemic has given businesses an unprecedented opportunity to implement profound changes to the way we work, according to GlobalData. The pandemic will leave a lasting legacy, from digitizing processes and reshaping supply chains to redesigning offices, the research firm says.
“For manufacturers, technology will play an increasingly prominent role in building resilience,” said Laura Petrone, senior analyst at GlobalData. “As for office work, this will not be the same after Covid-19. Physical spaces will be transformed, and remote working, supported by technology, will become the norm for millions of employees.”
Companies developing and adopting the most advanced technologies in the categories of visualization, connectivity, automation, collaboration and interpretation will emerge as winners, the firm says.
“With the global economy expected to enter a deep and long-lasting recession, automation will accelerate as companies strive to cut costs, bringing with it renewed fears of job losses.”
Fundamental shifts in the structure of the labor market, such as the polarization of the labor force and the rise of the gig economy, were already well underway before the pandemic, but post-Covid-19, these changes are likely to gain fresh momentum, making the discourse around the future of work and its potential positive and negative effects more relevant than ever.
“While companies are experimenting with new technologies and ways to redesign their workflows to increase productivity, the impact of automation will be felt differently across job categories and disproportionately affect workers with lower levels of education.”