“Covid-19 is like a 10 year fast-forward button for the major trends of the world.” —Sam Altman
“Recent data show that we have vaulted five years forward in consumer and business digital adoption in a matter of eight weeks… [and for online shopping in America’ ten years’ growth in three months.” —Mckinsey (May 2020)
“Share of cashless transactions worldwide has jumped to levels they had expected to see in 2–5 years time.” — Survey of bankers by Economist
Many of the effects of the coronavirus have been unfolding for decades. The pandemic just accelerated existing trends. We see this trend in more people working from home, more people learning online, growth of e-commerce and deliveries, and increased job loss due to automation.
Below are a few of the charts that show the continuation of trends like more people working from home, more people learning online, growth of e-commerce and deliveries, increased job loss due to automation.
We’re seeing industries, processes, and companies that have held back digitization suddenly become digitized because the law, employees, and/or customers are demanding it.
In many ways, coronavirus has given us a glimpse into our future. We are Ebenizer Scrooge in the Christmas Carol getting a glimpse into Christmas Future.
Ideas that were extreme or unpalatable just months ago are suddenly a necessity…
- Title of article created by a quote from Tobi Lutke, founder, Shopify