How are different industries struggling with the crisis?
The coronavirus pandemic has introduced multiple challenges in the
healthcare industry. Hospitals have to care about a growing number
of patients while ensuring the best treatment. Pharmacies need to
meet a significantly rising demand for medicines. Healthcare
organizations are generating thousands of tests per day.
At the moment, some medical providers are having a 2700% increase in
customer queries for support and information, according to the data
collected by Innovations in Healthcare, a company that was founded
as the International Partnership for Innovative Healthcare Delivery.
As a result, they are receiving thousands of calls and emails every
day. These circumstances have forced the healthcare sector to
integrate innovative technologies to cope with these issues.
In response to the crisis, healthcare providers should take the
The integration of remote health monitoring and management
software should become the highest priority. Working in
conjunction with mobile apps, sensors and smart devices can be
used for tracking health indicators such as pulse, temperature,
blood glucose level, arterial pressure, and heart rate. You can
also employ an analytics system that will process large amounts of
medical data and provide valuable insights.
Integrate an Artificial Intelligence-based chatbot to process
numerous requests 24/7. A virtual bot can give answers to
frequently asked questions, offer a kind of interpersonal
communication, and provide 24/7 customer support. Additionally, it
can instantly provide users with the required information, say, on
drugs or disease symptoms.
Employ audio and video conferencing tools in order to hold online
meetings and appointments with patients. In minor cases, these
software solutions can replace face-to-face visits.
Use mobile and web applications to easily share personalized
treatment plans with patients, view medical data, track health
conditions, and quickly answer user questions. This way, doctors
and nurses will be able to help a lot more people.
Taking these measures in response to the crisis, you will not only
better overcome it but also improve patient care, enhance customer
experience, and boost overall efficiency. Explore
how to resolve healthcare challenges with innovative technologies.
Food service and retail
Food and retail industries are those that have received new
opportunities due to the outbreak. Being in partial or complete
isolation, people are buying and ordering goods via their
smartphones, laptops, PCs, and tablets. For instance, today mobile
apps of retail giants like Shipt, Instacart, and Walmart are
witnessing record growth.
However, this presents challenges to businesses that don’t have an
online presence. To outrun competitors and succeed in the market,
you should automate workflows, digitize operations, and improve
If sales have decreased and you are asking yourself “How to overcome
you should create a business continuity plan that contains the
Shift a focus from physical stores and dining areas to e-commerce
websites and mobile applications.
Boost an online presence in social networks, communicate with
customers, instantly answer their questions, reviews, comments.
If you have already had a website or mobile app, make sure it
provides the seamless user experience, has a great intuitive
design, and is resilient to high loads. If something is wrong,
say, user interface design is totally outdated, consider making a
redesign of your product.
Consider the option of incorporating an AI-enabled chatbot in your
site or application. Bots can analyze incoming messages, answer
various questions, and send tasks or user queries to the required
specialists or departments. This digital solution will allow you
to improve customer experience, faster respond to users, and
process a lot more requests.
If you are not providing services via tech devices, you should
reach your clients via a mobile and/or web app. For example, if
you are the restaurant’s owner, you can build an online food
In case you are a retailer, think about making an e-commerce
website. You can create a small solution with the key
functionality for a quick start and then gradually scale it.
Construction and real estate
Unlike e-commerce and retail, the construction industry is suffering
from the coronavirus outbreak. There are many factors that are
negatively influencing the sector:
Supply chain disruption
Termination of contracts
Inability to work off-site because of social distancing
Shortage of resources and materials
Delays in delivery as contractors and subcontractors are not able
to provide or obtain the required materials
As a consequence, the industry has to address various challenges
such as decreased productivity, project downtime, higher costs on
materials, and the need to optimize expenses. The COVID-19
disruption has made the use of technological solutions the top
priority, with construction companies taking advantage of boosted
efficiency and improved coordination.
See the list of tasks that you can include in your business
Integrate an asset management system to track all resources in
your organization, optimize costs, and prevent losses.
Integrate a 3D modeling solution of industrial installations that
will allow your employees to remotely map, control risk
situations, and manage construction processes.
Employ a real-time reporting system via mobile or web apps in
order to quickly and easily share files and documents, generate
reports using pre-built templates, and better monitor arising
Use a task management and planning system to track the project
completion in real-time, which will let you view statuses from any
place in the world. You can also provide interested parties with
remote access if necessary.
Create a big data analytics system to process large amounts of
data (e.g., files, reports, archives, etc.), make fast and
informed decisions, verify information, and partner with trusted
subcontractors and vendors. In addition, you can employ this
technology to manage risks, faster resolve claims and trade
By taking these measures as a part of your business continuity plan,
you will be able to remotely track tasks and projects, improve risk
management, increase efficiency, streamline communications, and
reduce human errors.
FinTech and InsurTech
While many FinTech and InsurTech firms are raising their capitals
and funding from lenders, other financial companies are taking
cost-saving measures. Those organizations that invested in real
estate projects, were forced to suspend their activities.
In today’s uncertain market environment, digitization has become the
primary goal. Artificial Intelligence, machine learning, big data,
mobile apps, and blockchain solutions help the industry overcome the
See what activities you can include in your business recovery
Incorporate AI-based chatbots in call-centers, websites,
Employ know-your-customer (KYC) regulations to protect client
assets, ensure ID security, and support remote banking.
Develop an online banking portal or a mobile app to allow clients
to easily access their bank accounts, make payments, sign
documents using a digital signature, and view a history of
transactions from any place in the world.
Provide users with personalized customer experience and tailored
financial advice with the help of online consultations, chats, and
“If we hadn’t integrated digital documentation, remote supplier
onboarding tools or our API connectivity into our offering, we
wouldn’t be able to deliver what have become essential digital
services to customers today.” —
said John Laurens, head of transaction banking at DBS.
Logistics and supply chain management
Logistics is another industry that has suffered from the pandemic.
Soon, the borders will start to gradually open and traffic—including
rail, air, and marine connections—will finally get better.
To overcome the crisis, you should create the following business
Use a location management solution that will allow you to monitor
vehicle location, driver activities, and cargo delivery status.
Once goods arrive at a certain place, employees will be
automatically informed via push notifications. You can also
incorporate real-time visualization on the map. This will help you
track all transportation intermediary stages.
Integrate an inventory management system. You can place sensors
and use a mobile application to track numerous items and their
position in real-time. Scanning barcodes and monitoring locations,
you will prevent any losses, reduce labor involvement, and boost
Leverage the power of drone-based delivery. The use of drones will
provide your company with a great competitive advantage. Fast
transportation, resolution of last-minute delivery issues, instant
in-store delivery, contactless delivery, minimized labor costs are
the main benefits of this innovation.
, global shipments of IoT enterprise drones will reach 526,000
units, increasing by 50% from 2019. By 2023, this number is
anticipated to grow to 1.3 million.
Use a blockchain-based system to store data and ensure the highest
security level. In some cases, the transportation process involves
over 150 intermediary steps passing the hands of manufacturers,
As a result, there is a massive data flow that needs control. With
blockchain technology, you can manage multiple records, view cargo
statuses, and see other information. What’s more, you can provide
every product with a digital ID to protect goods from counterfeit.
how you can use blockchain solutions to address 7 business
. A bonus is a checklist to see whether you should integrate this
technology or not.