In the modern digital age, there has been no moment that has been as disruptive as what humanity is experiencing today amid the novel coronavirus pandemic. The IoT world has been shocked as the promise has been stripped away as enterprise budgets have withered as have their IoT ambitions. Yet, now more than ever, we need innovation. The IoT industry must adapt and rethink how they approach a very different market in a highly abnormal reality that may be with us for a while.
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You are a small or medium-size business in the midst of a global pandemic that is constricting your business as governments order “non-essential” businesses to shutdown and growing consumer angst crush business activity and demand. What do you do? What can you do to survive and thrive? For many industries, surviving will require businesses to dramatically rethink the notion of business model, go-to-market approach, supply chain, sales channels, people and modality of work. All of this needs to happen with the consideration of the health and safety of employees and customers against the persistent threat of the coronavirus pandemic.
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Necessity is the mother of invention. There has been no moment of need in modern times as urgent as what we face today as humanity grapples with the COVID-19 pandemic. In three months, the virus has spread to over 180 countries around the globe, infecting millions, and has arrested the largest and smallest of economies. At the same time, it has created an unprecedented need for connectivity and communications. Now, more than ever, unconventional thinking and leadership as well as innovative applications of technologies such as 5G are dire necessities for addressing the many COVID-19-related challenges that are disrupting millions of lives and jeopardizing trillions in economic value.
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We have come a long way in a short time since COVID-19 emerged from Wuhan, China late last year. The virus has stealthily yet rapidly evolved from a provincial epidemic to a pandemic that is suffocating the largest and the smallest of economies around the globe.
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While the White House has touted a major victory in the trade war with China with the signing of a so-called “Phase One” deal, it was difficult not to notice the very visible absence of Chinese President Xi Jinping himself. Instead, the Trump Administration received a congratulatory letter from President Trump’s Chinese counterpart read by Vice Premier Liu He, a level-three member of the Chinese Politburo.
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