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Will there be a boom after Covid-19? After the traumas of the Spanish Flu and World War I a century ago, the creative energy of the 1920s exploded. Economic growth was seen in major cities such as New York, London, Shanghai, Sydney, and Tokyo. Cars and radios, for example, became commonplace. A risky optimism did as well. I believe the decade of the 2020s will be equally exciting. Here are four explanations (with some caveats):
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1. Increased digital efficiency
Diane Greene, then-CEO of Google Cloud, warned a Forbes audience in 2017 that the rate of digital technology innovation was fast quickening. Moore’s Law would be “two to three times faster,” she estimated. Of course, advancement in digital technology does not guarantee productivity. To keep up with that progress, new business and organizational models are continuously required.
Covid-19 facilitated this for us; the epidemic necessitated quick business changes. Microsoft CEO Satya Nadella claimed that the company’s digital transition took only six months. Companies were compelled to become smarter, faster, and more nimble as a result of Covid-19. Failure was the alternative. No business can go back to being slower, stupid, and trapped. In terms of business, the 2020s will be known as the Agile Decade.
2. AI that is scalable
A convergence of digital technologies is currently maturing at the same time: low-cost cloud computing, ubiquitous mobile computing (billions of sensors and phones), and faster connectivity such as 5G. Enter artificial intelligence (AI): the 2020s will be the decade of enterprise AI.
There’s one more thing to do. Previously, deploying AI required arduous, time-consuming, and costly work. But what if AI were simple to implement and use? What if everyone who knows how to use a spreadsheet could also anticipate supply chain risks in India or trucking fleet maintenance costs in Indonesia? That is now taking place. The 2020s will be shaped by AI for the rest of us, to borrow Apple’s iconic tagline from the 1980s, “a computer for the rest of us.”

As exhibited at the World Artificial Intelligence Conference in Shanghai on July 8, 2021, robots can assist in transporting box files.
Bloomberg/Qilai Shen
3. A surplus of capital
The globe is flush with cash, making it historically simple for entrepreneurs to raise money for creative businesses. Make no mistake: there’s a lot of buzz about cryptocurrencies, meme stocks, and SPACs. Global capital is well aware that digital technology acceleration and artificial intelligence (AI) are game-changers. These will wreak havoc on business models and marketplaces, as well as make huge fortunes.
4. Revolutions in the physical world
As Greene points out, digital technologies are rapidly developing. However, advancement in the physical sphere is usually slower due to physics and other causes. Nonetheless, progress is being made in this area as well. Agricultural yields are increased by using drone cameras. Trucks that are self-driving do not need to stop for breaks. The combination of gene sequencing and artificial intelligence will result in tailored medical therapies.

In an interview in London in 2019, Daniel Wiegand, the founder and CEO of the German firm Lilium, said the following.
Bloomberg/Mary Turner
Take, for example, Lilium, a German firm. It intends to make air travel more accessible to the general public by developing an electric-powered aircraft that can take off vertically and fly like a plane. It is designed for autonomous piloting using composite materials and AI, albeit an actual pilot will be needed for now. Lilium, unlike other aviation startups, has a substantial amount of cash on hand. It embodies the spirit of the post-Covid-19 era.
Caveats:
Not one, but two devastating stock market crashes and depressions occurred during the Roaring Twenties. Many people forget about the one in 1921, which nearly ruined the decade. In the 1920s, prosperity was also quite uneven. Cities grew rapidly. Much less in rural areas. Don’t anticipate the decade of the 2020s to be all sunshine and roses. It will, however, be thrilling./nRead More

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