Innovation in the Time of COVID-19

by | Apr 20, 2020 | COVID-19, Smart Financial Tips

This article from CNBC.com highlights the innovation at work as technological solutions to help many aspects of the pandemic are quickly coming to market and having important real-time impact.

From using artificial intelligence to track the spread of the virus to using robots in hospitals to allow families to communicate with patients; from online video chat classes with independent teachers to helping small businesses apply for relief loans, startups are on the move, shifting their technology and business models to address immediate needs and looking to capitalize on trends that will endure well past the COVID-19 pandemic.

Of course, life science innovation is at the heart of getting past COVID-19 as we hope for continued progress from clinical trials of therapies and vaccines.   Early indications that Gilead’s Remdesivir helps patients with severe symptoms recover more quickly helped the S&P 500 rise almost 3% this past Friday[1].

The intensity of the global effort to deal with all aspects of the pandemic may have a long-term impact on societal advances similar to World War II, the Apollo program, the personal computer, and the internet.  For as horrific as COVID-19 is, the crisis is stimulating a drive to problem solving that could bring important advances to the benefit of all.

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[1] Source:  Morningstar, Inc.

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