The world changed in March 2020, almost overnight.
Megatrends in a post-COVID world – EY Report
The world changed in March 2020. Almost overnight, the COVID-19 pandemic strained health care systems to the breaking point, put much of the global economy on an indefinite hiatus and radically reshaped societal norms and interactions. For businesses everywhere, these events are undermining established assumptions while catalyzing new models and approaches.
The global system will be reshaped by everything from shifting power dynamics to 3D printing.
So far, these have been long term trends over a distant horizon. In one fell swoop, the COVID-19 pandemic changed that. It has moved us, almost overnight, into a new renaissance, a global reset. In an instant, many of us have been compelled to adopt remote work, virtual learning and online shopping. These changes are often proving to be more effective and sustainable, and they will likely be sustained in the long term.
The pandemic has also brought the fault lines of economic inequality into sharp relief, highlighting that we are all made more vulnerable by weaknesses in our social safety nets. This could catalyze trends we have been discussing for some time — populism, renewed social contracts, long term value and new economic metrics.
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