Change is the only constant, Singapore understands

From the way people work, shop or invest, Covid-19 has offered an unprecedented opportunity to do things differently in the next normal.

Published Tue, Sep 29, 2020 · 09:50 PM

Singapore

THE year 2020 has been dubbed the year of change. Even though this year saw the pandemic paralyse travel and sink economies, it is also being regarded as the year of reckoning for people and the use of technology around the world.

This phase of self-isolation, contagion and ambiguity will continue to alter the way consumers behave, in some cases for years to come. A study referenced in the magazine Psychology Today concluded that it takes an average of 66 days for a behaviour to become automatic. Super apps, e-commerce, and streaming media companies have witnessed massive adoption, shifts, and new challenges as the pandemic brought about changes in consumer lifestyles and habits.

Satya Nadella, CEO of Microsoft, recently said that technology saw two years' worth of digital transformation in two months, in areas such as remote teamwork, customer service to cloud, and security. Specifically, the rise of virtual learning and telemedicine allowing for inclusive education and health access is here to stay. These two areas are poised to thrive in the future, given the staunch systemic, regulatory, and behavioural roadblocks that have been cleared due…