In the wake of COVID-19 outbreak, the world economy has slowed down substantially. On account of the massive risk posed by the potential spread of the virus many countries are implementing lockdowns. 192 nations have been compromised, with new cases of fresh infections being reported each day. Countries such as China, Italy and Iran are badly hit. Everyday life and work routines have been completely disrupted. The sense of panic among the general public created due to the epidemic situation is no less of a concern than illness and death. Businesses are incurring losses with the halt of production and insufficient manpower. Anticipation of layoffs in the midst of this downturn will put a risk to the income and safety of millions of workers across the globe and this could ultimately cause a global recession.
To prevent outright collapse and distortions in the global trade and economy, many companies are searching for innovative options to stay afloat. In some cases, intelligent automation can be helpful and handle many tasks in an automated manner, ensuring that operations and workflows continue while employees stay safe.
Some of the solutions to attenuate the effects of COVID-19 epidemic and support business operations are as follows:
Stay Home, Stay Safe
Staying home is the best form of defense right now. Many companies are implementing work from home options so their teams can work remotely and stay safe. This is hugely important to mitigating the spread of the virus and keeping employees safe. In addition to keeping employees protected, working remotely helps businesses continue operations during this time which in turn supports the economy.
AI & Intelligent Automation
Automation, particularly AI-powered intelligent automation, is helping many businesses continue operations. The elimination of manual intervention allows employees to stay safe. Such applications can be remotely monitored through logins and businesses can run with the bare minimum workforce during this pandemic.
Self-support services using disruptive technologies such as Artificial Intelligence, Machine Learning, Natural Language Processing allow organizations to continue to support their customers during these testing times.
With the aid of Virtual Technology, certain organizations can continue to conduct their businesses and stay operational through VR. Although this is a niche space, it is useful for companies who are using this technology for some of their operations and to share design changes and other ideas.
With working remotely and intelligent automation, certain businesses can mitigate the impact of the crisis. Although some businesses such as hospitality and tourism are greatly impacted, others are dealing with the situation by leveraging advanced technologies. In this way, people can stay safe and a significant amount of the financial losses can also be mitigated. This will help sustain these businesses and in turn support the economy, rather than a total standstill of operations that would be more damaging to the world’s economy.
Remember that you’re not alone – social distancing, and working remotely is the way through this challenging time and people worldwide are united in this effort. Keep yourself safe by following all precautionary measures including periodic handwashing and hand sanitization. Working remotely also keeps us connected to our teams and colleagues providing some much-needed connection during the isolation of lockdown.
If you would like to explore how implementing intelligent automation can help your business, the Rapid Acceleration Partners AI team would be glad to help you. Our next-gen, AI-powered content intelligence platform RAPFlow in tandem with our RPA solution RAPBot, provides end-to-end workflow automation capabilities that can be deployed in just a week. Please book a demo to explore how RAPFlow and RAPBot can transform your business.