COVID-19 has dramatically changed our lives and the way we do business. In these testing times, the business leaders don’t just need to focus on business continuity but also need to learn new ways of doing business to ensure that they have a recovery plan in the post-COVID era. Here are a few tips on how to maintain business continuity in COVID-19 times.

Objectives

The objectives of this article are:

• To help executives with insights on maintaining business continuity in a disruptive time due to the ongoing COVID-19 crisis.
• To offer feasible, actionable, and easy to implement solutions that would help tackle change and be ready for the new reality.

Employee Safety

The first thing you need to remember is to focus on employee safety. It will help if you create policies that make flexibility an easy option for employees. Work from home should be encouraged, and video calls and conferences should be the new normal.

Applications of Predictive Analytics

Another thing you need to prepare your business for is unexpected changes. For instance, supply chain disruptions may significantly impact your business, or your employees might need to go for self-imposed isolation or quarantine. Machine Learning enabled predictive analytics models will provide you a futuristic view of the possible outcomes and help you deal with them in a timely fashion.

Business Agility

In the current climate, the old ways of doing things might no longer work. For instance, the old supply chain strategies did not work when the lockdowns were implemented across many states and nations. During these times, diversifying across the supply chain and distribution channels, finding new partners, and new modes of transportation, and adopting AI solutions could help.

Keep Communication Open

Honesty and transparency are two key assets of a company. You can ensure that by staying connected with the stakeholders in these testing times. Talk to your employees, customers, suppliers, creditors, investors, and government bodies to ensure they know where the company is going and what you are doing to make the best of the worst situation..

Embrace the New Normal

COVID-19 crisis will pass. We are finally beginning to see the light at the end of the tunnel with two vaccines’ news striking success in the US. We should be ready for the post-COVID era by preparing your business for it. One of the simplest ways to do it is to seek advanced solutions like machine learning solutions, data science solutions, machine learning, deep learning, robotic process automation, cognitive analytics, and automated decision-making. These solutions will enable you to make more data-driven decisions with AI technologies’ power and use it for your market advantage.

Trusted Partnership

Right technology partnerships are important. Artificial Intelligence technologies are rapidly changing. It is a moving target for many companies that do not have a large budget and internal expertise. Working with AI specialty vendors to develop the enterprise AI capability and evolve AI capabilities over time through a proactive well thought out approach.

How Cognitive BI can help?

Let COVID-19 not slow you down. Learn about the hybrid-approach to AI adoption during this disruptive time. It makes more sense to develop some applications internally while let specialized AI partners do the heavy lifting. Let experts at Cognitive BI, Inc help you decide the applications that demand external partnerships to develop and thus build AI capability overtime. Contact us to discuss this.

Conclusion

It is a fact that the COVID-19 crisis was something no one was prepared for. Still, companies and C-level employees can take lessons from it and carry forward their business smarter during and after the crisis. Only those agile and have the required resilience to reshape their business strategies smartly will thrive in the future and make up for the losses they have suffered during the testing times. Remember, the faster you learn to adapt, the sooner you will regain success. A professional consulting partner like Cognitive Bi Inc.can speed up the process and make the ride smoother.