MAJOR INDUSTRIES EXPECTED TO THRIVE AFTER THE CRISIS

  1. Medical education: Replacement of in-person medical classes by recorded lectures or live-streams. Interactive learning groups, such as small group case-based learning and team-based learning through webinars and teleconferences provides an insight into how medical school will look going forward. Implementing technology into medical education in a unique way will allow students to develop collaborative skills and improve adaptability. Navigating the challenges associated with remote collaboration with their peers sets up a unique parallel and practice to what interprofessional cooperation and telemedicine could look like.
  2. Artificial intelligence
  3. Internet
  4. E-commerce platforms : The uplift in e-commerce may well become permanent if people remain wary of mingling in real life, and increasingly replace shop visits with online purchases.
  5. Delivery & Logistics : Logistics platforms are already revamping their concepts to match the new market circumstances by enabling retailers to scale home delivery fast. Expect similar innovations going forward.
  6. Health care: Expanding the use of telehealth, telemedicine,  rethinking the role of hospitals and other institutions as hubs.
  7. Scientific Research
  8. Data Service: Data-enabled healthcare initiatives will increase. Massive increase in healthcare data represents an opportunity for various data and AI specialists to develop useful solutions that will help reduce risks of contagion, relieve consumer anxiety while also providing reassurance to help them cope with these difficult times.
  9. Scalable digital business models: Companies will increasingly start to build resilience in their businesses by complementing product-focused models with scalable and stable digital alternatives. This might include businesses diversifying from their core offer to sell data and AI assets to third parties.
  10. Digital collaboration: (As companies rapidly and in some cases also permanently move towards remote working, the market for digital collaboration tools such as Microsoft Teams, Google Hangouts and Zoom is likely to grow quickly.
  11. Digital media and entertainment : Social media, gaming, news, video streaming, books.

The Players

  1. Apple: Apple has steeped itself in the wearables and digital health data market, from its electrocardiogram-equipped Apple Watch to digitized medical records. But consumer health is a growing target of Apple’s massive R&D investments (now surpassing a billion-dollar monthly budget). Driving full-speed ahead on sophisticated sensors (currently capable of detecting atrial fibrillation and countless other health indicators), Apple is now digging into software. Aiming to improve patients’ lives holistically, the firm’s software is rapidly enabling full-scale machine learning systems that monitor how we live, our daily behaviors, and even personalized, preventive guidance informed by digital health research.Or take Apple’s latest COVID-driven initiative with Google, which could implement widespread contact tracing through voluntarily shared mass consumer data, tracking civilian movements and precise interactions between tracked users and their health data.
  2. Google: One of the world’s biggest investors in digital health startups, Google/Alphabet is applying AI to everything from disease detection to new data infrastructure, and possibly even insurance. Now boasting 57 digital health startups in its portfolio, Google invests in the most promising players spanning genomics, clinical research, infectious disease, diabetes management, degenerative diseases like Parkinson’s, and even insurance benefits, signaling its ambitions as a future healthcare provider. Verily, Alphabet’s research organization dedicated to the life sciences, now has $1.8 billion in total funding, after its latest round raked in $1 billion in January of 2019. Or take Google Health, which has now grown to 500 employees in just over a year, consolidating its leadership over home-grown ventures like Google’s Medical Brain (voice recognition software for doctors) and Deep Mind’s health division.
  3. Amazon:  From its buyout of pharmacy delivery startup Pillpack in 2018, to its rollout of Amazon Care (involving virtual patient visits via telemedicine), Amazon is set to disrupt everything from big pharma to medical data management. Inserting its voice technology and AI tools between users and medical providers, Amazon even achieved HIPAA compliance for its Alexa virtual assistant last year.
  4. New startups: Telemedicine startups are now seeing an unprecedented surge in demand  driving a new generation of healthcare disruptors leveraging everything from AI to advanced sensors. In the U.S. venture capital funding for telemedicine startups soared past $788 million in just Q1 of this year. That’s more than 3 times the funds raised by telemedicine companies in Q1 of 2019, as the telemedicine market has continued to jump 258% year-over-year. Meanwhile, global venture capital  funding in digital health firms during Q1 of 2020 hit a record $3.6 billion across 142 deals, pumping fresh capital into those now confronting the pandemic head-on. TodayAmericans spend an average of $10,739 per person per year on healthcare—more than residents of any other country on Earth. If nothing changes, by 2027, this single industry will consume nearly 20 percent of the U.S. GDP.

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