Daily Times

President Pakistan Businessmen and Intellectuals Forum and All Karachi Industrial Alliance, Mian Zahid Hussain on Monday said that coronavirus has changed the world forever and only those nations and businesses will survive which can adapt to the new realities.

Mian Zahid Hussain said this while speaking at Global Online Innovation Summit 2020 organized by Institute of Research Promotion. He said that the importance of online businesses as well as innovation is multiplying at a rapid pace and the world is seeking new ideas in every field.

He said that pandemic has left many businesses bankrupt while many new businesses have appeared on the horizon and the change will continue for decades. The people moved from homes to factories in the eighteenth century and now many have moved from factories and offices to homes.

He noted that the volume of the global economy will be doubled in the next thirty years, automation will finish almost 70 million jobs but create 13 million new jobs. The importance of digital technology cannot be over emphasized in the current scenario which will not only leave many semi-skilled workers jobless but also empower institutions to tackle poverty, hunger, health and education issues in a better way. Pakistani businesses need to innovate, introduce their products online and promote creativity within the organizations. So that they can create effective processes, products, and ideas. It could mean implementing new ideas, improving services or creating dynamic products. It can act as a catalyst that can help businesses grow at a faster pace to stand out among others in the marketplace.

The government should also redesign curriculum to promote creative thinking among students from the very beginning and inform teachers and parents to avoid discouraging creative thinking, he suggested.