The effects of COIVD on the global economy have already started to take place in a very visceral way, especially in the entertainment and travel industries. We at Symphony AyasdiAI have been looking toward the future and making a few predictions on what the economy may look like in the next 2 to 4 years. Our big prediction is that in the next 6 or 9 months the COVID recession will begin in earnest.

COVID is driving key threads of the economy into significant trouble – credit over-leverage, employment, the decline of consumer purchases, a massive wave of rent defaults, and exploding debt for the rest of us will undermine the capital food chain and push multiple industries in existential trouble. Multiple industries are in stress; the stimulus has been poorly used, and the potential contagion from credit default to liquidity stress is not understood nor prepared for. But it has repercussions that will see multiple firms fighting for survival. Symphony AyasdiAI has been striving to identify these major issues and identified how our innovative technology can help adapt to the realities of our future economy below.

• Cyclical magnification

The economy is due for a cyclical downturn due to a long period of upward growth. However, with the COVID crisis, risk and exposure to the downturn are broader and deeper than it would have been before. Additionally, the hardest hit industries are unlikely to be able to recover even after the recession is over primarily due to debt and outdated enterprise structure.

• Accelerating change

Work from home productivity, workplace structure, emerging technologies, changing familial landscape, and a redistribution of personal values were all expected to radically change in the next decade, but these changes are coming faster than ever with COIVD acting as the front of the storm.

• From credit default to liquidity crisis

Many industries are facing a liquidity crisis as their Collateralized Loan Obligations are at risk of defaulting. With companies like AMC and Party City already in the $100’s of millions, to even Billions, in CLO’s they will have to continue to borrow to have enough liquidity to survive the recession but will have dug themselves their own grave.

• The accelerated digitization of white-collar workplace

The wide-scale digitization of back-end processes allowing people to work from home and to maintain work efficiency will likely continue to influence the workplace. With more investment in these kinds of technologies, there will be more radical innovation and implementation. Additionally, with reduced cost on the corporate side, in terms of workspace leasing and required benefits, digitization and the work from home model serve as an attractive proposition for both employer and employee.

• Ushering in the Golden Age of financial crimes

With the proliferation of alternative payment methods, increased cyber activity, and lackluster AML programs, financial crimes are beginning to enter their golden age. Current AML systems have weak detection systems focusing on arbitrary limits that identify clear workarounds for a semi-intelligent cyber-criminal. Without automated and intelligent discovery, we will be overwhelmed dealing with the symptoms of financial crime without ever truly addressing the problem. Read more about our thoughts on the effects of COVID on the financial crime landscape and how Ayasdi can help here.

• The growing importance of resilience under stress

The enterprise of the future needs to develop a better way to remain resilient under stress and change. With the massive supply chain and business continuity issues occurring across the global economy, businesses have been slow to adapt to the COVID landscape. In addition, many businesses are struggling to adapt to the technological and social repercussions of this scale of global crisis. Enterprises need to adapt in order to establish this resiliency by having alternatives rapidly initiated, increasing their agility & flexibility of tech & people, implementing AI without bias that is smart enough to rebalance the enterprise rapidly, and introducing discovery of the “unknown” allowing for quick adaptation to events and behaviors that may be hard to detect. These solutions have only become feasible with recent technologies that offer the relevant data and flexibility for any corporation to increase their resiliency.

• The need for a new definition of service for Customer, Client, Patient and Employee

As the environment changes around us, so does our definition and understanding of what services mean to the consumer. More importantly, the relationship between consumers, their desired service, and those who provide that service rapidly changes with emerging technologies. Previously, the more money invested into the flexibility or speed of a provided service the better the experience would be even as it became exponentially more difficult to provide. However, with more direct to consumer services being offered, the desired experience could be achieved at a much lower cost despite the high investment required to provide these services.

After COVID and with the implementation of even more technologies, it is possible to provide a more diverse consumer experience online or remotely. Using technologies like Blockchain, Cloud, AI, and other digital services the consumer experience has almost unlimited possibilities. While the initial cost to provide these services is high, it diminishes as you build a strong technological base that is capable of handling more complex combinations of these technologies. The new way to implement service and improve the consumer experience post-COVID will be with these technologies.

• AI Leaves the lab: Joins enterprise

One of the quickest growing technologies post-COVID will be AI. With the increasing demand for ROI, increased productivity demands, and resiliency, AI has quickly become more essential for medium and large-scale enterprises. AI is simply unmatched in its abilities of discovery, prediction, decision competitiveness, as well as customer, employee, and patient awareness. As enterprises restructure to accommodate long term market and workforce changes, AI is the solution that can cure their data challenges, decrease outsourcing and offshore reliance, and provide better risk, service, and product decisions at greater operational efficiency than ever before.

In summary, with no historical precedent for understanding customer behavior in this new global economy - credit, liquidity, pricing, and risk decisions will all be challenging terrain to navigate. This struggle is followed by an accelerated deployment of an enterprise digital strategy created by the global "work from home" workforce shift that will force a new understanding of productivity, resulting in smaller organizations. Additionally, the adoption of innovations in Robotic Process Automation, Neuro-linguistic Programming, and AI will not just be important, but a matter of success or failure for many firms. COVID has brought about large-scale change in the global economy. Those looking for a new normal, especially in the business world, are going to be sorely disappointed when this crisis is concluded. With the need for radical technological innovation, new perspectives on services, consumers, the workforce, financial crimes, and enterprise structure are necessary to adapt to a drastically different world post-COVID. By adopting the correct mindset and technology, is it possible to become resilient and flexible enough to adapt to this new mean. AyasdiAI strives to provide these kinds of solutions to our customers and will continue to provide the most advanced AI and TDA enterprise services on the market.

The effects of COIVD on the global economy have already started to take place in a very visceral way, especially in the entertainment and travel industries. We at Symphony AyasdiAI have been looking toward the future and making a few predictions on what the economy may look like in the next 2 to 4 years. Our big prediction is that in the next 6 or 9 months the COVID recession will begin in earnest.

COVID is driving key threads of the economy into significant trouble – credit over-leverage, employment, the decline of consumer purchases, a massive wave of rent defaults, and exploding debt for the rest of us will undermine the capital food chain and push multiple industries in existential trouble. Multiple industries are in stress; the stimulus has been poorly used, and the potential contagion from credit default to liquidity stress is not understood nor prepared for. But it has repercussions that will see multiple firms fighting for survival. Symphony AyasdiAI has been striving to identify these major issues and identified how our innovative technology can help adapt to the realities of our future economy below.

• Cyclical magnification

The economy is due for a cyclical downturn due to a long period of upward growth. However, with the COVID crisis, risk and exposure to the downturn are broader and deeper than it would have been before. Additionally, the hardest hit industries are unlikely to be able to recover even after the recession is over primarily due to debt and outdated enterprise structure.

• Accelerating change

Work from home productivity, workplace structure, emerging technologies, changing familial landscape, and a redistribution of personal values were all expected to radically change in the next decade, but these changes are coming faster than ever with COIVD acting as the front of the storm.

• From credit default to liquidity crisis

Many industries are facing a liquidity crisis as their Collateralized Loan Obligations are at risk of defaulting. With companies like AMC and Party City already in the $100’s of millions, to even Billions, in CLO’s they will have to continue to borrow to have enough liquidity to survive the recession but will have dug themselves their own grave.

• The accelerated digitization of white-collar workplace

The wide-scale digitization of back-end processes allowing people to work from home and to maintain work efficiency will likely continue to influence the workplace. With more investment in these kinds of technologies, there will be more radical innovation and implementation. Additionally, with reduced cost on the corporate side, in terms of workspace leasing and required benefits, digitization and the work from home model serve as an attractive proposition for both employer and employee.

• Ushering in the Golden Age of financial crimes

With the proliferation of alternative payment methods, increased cyber activity, and lackluster AML programs, financial crimes are beginning to enter their golden age. Current AML systems have weak detection systems focusing on arbitrary limits that identify clear workarounds for a semi-intelligent cyber-criminal. Without automated and intelligent discovery, we will be overwhelmed dealing with the symptoms of financial crime without ever truly addressing the problem. Read more about our thoughts on the effects of COVID on the financial crime landscape and how Ayasdi can help here.

• The growing importance of resilience under stress

The enterprise of the future needs to develop a better way to remain resilient under stress and change. With the massive supply chain and business continuity issues occurring across the global economy, businesses have been slow to adapt to the COVID landscape. In addition, many businesses are struggling to adapt to the technological and social repercussions of this scale of global crisis. Enterprises need to adapt in order to establish this resiliency by having alternatives rapidly initiated, increasing their agility & flexibility of tech & people, implementing AI without bias that is smart enough to rebalance the enterprise rapidly, and introducing discovery of the “unknown” allowing for quick adaptation to events and behaviors that may be hard to detect. These solutions have only become feasible with recent technologies that offer the relevant data and flexibility for any corporation to increase their resiliency.

• The need for a new definition of service for Customer, Client, Patient and Employee

As the environment changes around us, so does our definition and understanding of what services mean to the consumer. More importantly, the relationship between consumers, their desired service, and those who provide that service rapidly changes with emerging technologies. Previously, the more money invested into the flexibility or speed of a provided service the better the experience would be even as it became exponentially more difficult to provide. However, with more direct to consumer services being offered, the desired experience could be achieved at a much lower cost despite the high investment required to provide these services.

After COVID and with the implementation of even more technologies, it is possible to provide a more diverse consumer experience online or remotely. Using technologies like Blockchain, Cloud, AI, and other digital services the consumer experience has almost unlimited possibilities. While the initial cost to provide these services is high, it diminishes as you build a strong technological base that is capable of handling more complex combinations of these technologies. The new way to implement service and improve the consumer experience post-COVID will be with these technologies.

• AI Leaves the lab: Joins enterprise

One of the quickest growing technologies post-COVID will be AI. With the increasing demand for ROI, increased productivity demands, and resiliency, AI has quickly become more essential for medium and large-scale enterprises. AI is simply unmatched in its abilities of discovery, prediction, decision competitiveness, as well as customer, employee, and patient awareness. As enterprises restructure to accommodate long term market and workforce changes, AI is the solution that can cure their data challenges, decrease outsourcing and offshore reliance, and provide better risk, service, and product decisions at greater operational efficiency than ever before.

In summary, with no historical precedent for understanding customer behavior in this new global economy - credit, liquidity, pricing, and risk decisions will all be challenging terrain to navigate. This struggle is followed by an accelerated deployment of an enterprise digital strategy created by the global "work from home" workforce shift that will force a new understanding of productivity, resulting in smaller organizations. Additionally, the adoption of innovations in Robotic Process Automation, Neuro-linguistic Programming, and AI will not just be important, but a matter of success or failure for many firms. COVID has brought about large-scale change in the global economy. Those looking for a new normal, especially in the business world, are going to be sorely disappointed when this crisis is concluded. With the need for radical technological innovation, new perspectives on services, consumers, the workforce, financial crimes, and enterprise structure are necessary to adapt to a drastically different world post-COVID. By adopting the correct mindset and technology, is it possible to become resilient and flexible enough to adapt to this new mean. AyasdiAI strives to provide these kinds of solutions to our customers and will continue to provide the most advanced AI and TDA enterprise services on the market.