Predictions of What Post-Pandemic Economic Recovery Will Look Like

“The pandemic was the fourth global financial crisis I’ve experienced on the forefront of the business world. Every financial crisis exposes what we are pushing under the carpet. It forces people to make necessary strategic decisions – such as cost-cutting, cost-saving, profit increasing, leaner processes for operational excellence – faster. Unfortunately, not all operational or cost-cutting measures are planned and tracked appropriately with end goals in mind, so at the end of the day there are always losses that we could have avoided.

Today, we are seeing a faster shift in digital transformation across sectors. For instance, before the pandemic, the shift towards fintech was already clear but the pandemic has enhanced this shift toward digital transformation. We will see innovative products we have not expected from traditional financial institutions. This accelerated rate of digital transformation is cutting labor needs but enabling faster global economic recovery. Unlike the financial crisis in 2008, today there is no systematic collapse, and as per OECD and financing abilities are exceeding that of the post-2008 global financial crisis according to the OECD.”

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