How Can Businesses Be More Resilient Post Covid-19?

Amidst the current Covid-19 crisis, multinational corporations (MNCs) and small and medium-sized enterprises (SMEs) are prompted to rethink and adapt their business model to the new reality. While some businesses are already embracing digital workflows, the coronavirus pandemic is providing a stronger incentive for more enterprises to move towards a smart factory that ‘can self-optimize performance across a broad network, self-adapt to, and learn from, new conditions in real and autonomously run entire production processes’. By migrating towards a smart factory model, enterprises can create a highly digitalised and connected environment where machinery and equipment can improve processes through automation and self-optimization.

Research shows that businesses with automation processes and digital workflows in place tend to be less affected by the pandemic than more traditional firms. More than ever before, the digitization of businesses that embrace interconnectivity, automation, machine learning and real-time data, are going to play a critical role in revitalising and adjusting industries to the new post-covid environment. At the core of these transformations should be an emphasis on the centrality of Artificial Intelligence (AI) especially when it comes to redesigning the business model and differentiating an enterprise and defining how it creates value, as well as to its operating model.

Amidst the current Covid-19 crisis, multinational corporations (MNCs) and small and medium-sized enterprises (SMEs) are prompted to rethink and adapt their business model to the new reality. While some businesses are already embracing digital workflows, the coronavirus pandemic is providing a stronger incentive for more enterprises to move towards a smart factory that ‘can self-optimize performance across a broad network, self-adapt to, and learn from, new conditions in real and autonomously run entire production processes’. By migrating towards a smart factory model, enterprises can create a highly digitalised and connected environment where machinery and equipment can improve processes through automation and self-optimization.

Research shows that businesses with automation processes and digital workflows in place tend to be less affected by the pandemic than more traditional firms. More than ever before, the digitization of businesses that embrace interconnectivity, automation, machine learning and real-time data, are going to play a critical role in revitalising and adjusting industries to the new post-covid environment. At the core of these transformations should be an emphasis on the centrality of Artificial Intelligence (AI) especially when it comes to redesigning the business model and differentiating an enterprise and defining how it creates value, as well as to its operating model.

The covid-19 pandemic is clearly illustrating the importance of planning and developing business systems which are resilient to increasing unpredictable global disruptions and which suffer minimal impact on critical business and operational processes. The integration of effective artificial intelligence technologies at the core of businesses offers innovative and better-adapted solutions to dealing with future disruptions and enables businesses to implement effective disaster recovery plans, mitigate risks and ensure business continuity. In other words, AI can support and enhance enterprises in delivering three important business needs: automating business processes, gaining insight through data analysis, and engaging with customers and employees in innovative ways.

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