The Shift to the “New Normal” and How to Adapt to it – Lee Chandler

With the current situation in which the world currently is living, most aspects of life are shifting towards a more digital approach, the so-called internet of things. This change was inevitable but now it is no more evident than ever. The coronavirus pandemic has been a  major contributor to this shift, and most likely there is no going back, as they say, there will be a “new normal” from now on. A remarkable point, was the prices that many tech stocks reached with Facebook, Apple, Amazon, Microsoft, and Google reaching a combined market cap of $7 trillion which made them the third largest economy only behind China and the United  States when compared to the GDP of respective countries. These valuations very high and over-stretched but nonetheless it shows how many investors and the general sentiment of the public are betting that the “new normal” is here to stay. There are currently 55.3 million tech jobs a 3.9% increase from 2019 and by 2023 there will be 62 million according to the  Worldwide Technology Employment Impact Guide from the International Data Corporation  (IDC).  

Now is the time for individuals to adapt as well as businesses to this new way of doing things. For starters, it is really important to make the most out of technology and become friends with it, since it can make our lives a lot easier. As an example, Slack is a great tool for businesses and individuals within the business to communicate with one another remotely. It helps everyone be on the same page regardless of location. Zoom is another tool that should be utilized regardless if it’s by individuals or businesses, this is because you can schedule meetings with ease, still stay up-to-date with one another, and have more personal interactions. Individually, employees should make sure that they have a quiet place at home where they can remain focused. Individuals must also have the discipline to have an efficient work schedule while working from home, employees should make sure that they are having clear and open communication with their boss and colleagues to make sure that the work is being done. By using the tools above business operations will be smoother remotely. Now, it is too soon to know exactly how the world will be following the pandemic, but tech is nowhere to stay more than ever before. 

Sources:  

https://www.techrepublic.com/article/tech-jobs-will-see-steady-growth-through-2023/ https://leverageshares.com/?insights=faamg-one-of-the-worlds-leading-economies 

https://thetradable.com/markets/combined-market-cap-of-faamg-hit-7-trillion-but-the correlation-between-spx-and-spw-is-the-lowest-since-1999- 

#:~:text=Since%20Dotcom%20Times-,FAAMG%20Market%20Capitalization%20Hits%20New %20All%2DTime%20High,S%26P%20500%2C%20according%20to%20Reuters. 

https://www.forconstructionpros.com/construction-technology/article/21134506/construction postcoronavirus-4-tools-to-adapt-to-the-new-normal

 

Luis Guarita 

Linkedin: https://www.linkedin.com/in/luis-guarita/ 

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