Innovate? In the past five months of solitude, I got abundant ideas and awareness. 2020 started with a lot of hope but had a lot of surprises. The year of 2020 begs two paramount questions. Could we have done better? Does our world lack needed innovation?
Speaking with my colleagues in the industry, mainly entrepreneurs in technology, the trend in the past 5 months had been an utter failure in business operations and finance. Many of these people had put hundreds if not thousands of people in LWP (Leave Without Pay) completely halting value creation in the industry which in return created a vicious cycle of unemployment and stopped the world from moving forward. Could our society have progressed to the point where the pandemic created by COVID-19 would have been prevented? 11 Million of recorded cases and 0.5 Million deaths, could we have prevented this? Shouldn’t the blame fall upon all of us innovators who failed to innovate enough? Or, the bystanders who choose to adapt to the changes in society and not be innovators?
BCG’s research shows that the development time had been the biggest obstacle to returns on innovation. Should the blame lie on the technology consulting firms who help the companies across all industries to innovate? Humanity can and should never blame coincidence and fate and opt for BAU(Business-as-usual) for it stops innovation.
The governance, politics and the chaos created by the pandemic has downplayed the fact that lack of innovation or inability to innovate or, the speed of innovation, had been one of the principal reason why we were not able to stop COVID-19.
We could have done better, and we lacked needed innovation. The only way for humanity to stop another COVID-19 is for all of us to innovate and I am sure many of us will.
To end this monologue on a happy note, in addition to the fourth of July, this week I am celebrating one year at Takeo.AI and, one year of innovation and entrepreneurship. My only wish for the rest of the year 2020 is to collaborate with my network to change the world.