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Aug 3 2020 How COVID-19 is changing our perception of innovation

Technology is an essential requirement in everyone’s life. No matter what your lifestyle or occupation, technology can make life easier and more enjoyable. Following are some impacts of innovation:

·      Adopting Innovation Saves Time and Money

One might argue that the initial investment in new technology is a waste of money. Our way of working will eventually change, and in the long run, adapting to this reality can save a lot of money.

It is clear that the construction crew must change the way the equipment is controlled and manipulated. Technologies such as Cat Connect GRADE and PAYLOAD can help operators understand how they manipulate the surrounding soil or materials. This particularity improves the accuracy and technical level of operators, saving them money and time. In addition, monitoring the operating conditions of the machine can reduce operating costs and extend the life of the machine.

Today, you have to spend less and do more to stay competitive, and adapting to innovation can only help.

·      New Solutions Increase Workplace Safety

Unless you work in the automotive industry or the medical industry, you may not think too much about workplace safety. With the increasing demand for safety and security, we are looking for ways to use technology better than ever. The safety of schools is getting better and better, new measures have been taken for the safety of airline pilots, and network security is also increasing. The construction industry is not immune.

·      Technology Improves Cross Communication

This is a big problem because communication involves all aspects of business in every industry. The better the communication, the more efficient the project and the more money and time saved.

For the construction industry, the operator in one machine needs to work with other operators and machines. The influence of technology-equipped machines can establish clear communication channels. Products such as Cat Connect equipment management services can help owners understand their machines and drive business development.

There are many innovative platforms, technologies and gadgets to choose from. And our choices will continue to grow. As a company, we also have this feeling. Now, our remote team members work in five different states, so promoting online collaboration is vital to us. We have turned to sharing tools such as Egnyte and GoToMeeting to enable seamless collaboration despite long distances.

·      The Right Platform Helps to Optimize Return

The conversion of data into easy-to-use information is necessary in any industry. This is difficult to do, but in today’s data-heavy environment, it is necessary to use the power of data.

The main goal of the construction industry is to optimize the return of equipment and labor. But how do business owners set benchmarks and know which parts of the operation need to be optimized? This is the source of the product link. Product links track information about the location, utilization, and condition of equipment.

Regardless of the industry, make sure to conduct due diligence on the correct platform and technology to be used. Most importantly, allocate time and money to be able to make changes based on the collected data.

How COVID-19 is changing our perception of innovation

The COVID-19 crisis will fundamentally change our perception of innovation. To successfully respond to crises in the short and long term, we need solutions that can drive impact.

In recent years, many innovations have focused on technology. These technologies have greatly changed some aspects of our communication, work and life, but they have not yet successfully solved the most difficult challenges of the current era. It may be because of how innovation is financed and commercialized; or the fact that these challenges cannot be solved by any company alone; or it may be because of the lack of correct evaluation and resolution beyond the areas of impact investment and social entrepreneurship. Innovative understanding of issues such as climate change, public health or economic inequality. The COVID-19 crisis is rapidly changing this situation. Innovative influence, that is, the development of products and services that emphasize social (minimum) and environmental benefits and financial returns has become our “new normal”.

In order to fully combat COVID-19, our next wave of innovation needs to develop and expand rapidly on a global scale. Given the scope and scope of this challenge, this innovative work cannot be limited to one country, or just as we have become accustomed to a local (albeit powerful) ecosystem in recent years. Innovation will need to come from all corners of the world to ensure that we have solutions that can fully meet the diverse needs of different countries and regions and provide broader impact. However, innovation, especially technological innovation, is not a panacea. It relies on the strong, scientifically based, ideal cooperative actions of the government, civil society and enterprises to truly have an impact.

Fortunately, innovators are already working hard to develop solutions to the myriad challenges posed by the COVID-19 crisis. Understandably, at present, many discussions around viruses are focused on a possible vaccine. However, in reality, there are many areas that require innovation. In the next few weeks, Let’s explore new and innovative work in several key areas of the COVID-19 response, starting with one of the most urgent areas-contact tracking. In this process, the solutions and ideas we will highlight are by no means exhaustive. On the contrary, they show that innovating for our “new normal” requires the participation of many participants from all over the world.

References:

https://som.yale.edu/faculty-research-centers/centers-initiatives/program-on-entrepreneurship/podcasts/impact-innovation

https://impactinnovation.com/

https://cech.uc.edu/schools/education/ats/impact.html

https://www.theverge.com/interface/2020/3/26/21193902/tech-backlash-covid-19-coronavirus-google-facebook-amazon

https://www.ccl.org/articles/leading-effectively-articles/hr-pipeline-3-ways-to-get-more-innovation/

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