{"id":3939,"date":"2021-05-05T15:19:57","date_gmt":"2021-05-05T19:19:57","guid":{"rendered":"https:\/\/www.wework.com\/en-GB\/ideas\/?p=3939&preview=true&preview_id=3939"},"modified":"2021-07-30T16:21:12","modified_gmt":"2021-07-30T16:21:12","slug":"innovate-or-else-the-economy-of-the-future-requires-disruption","status":"publish","type":"post","link":"https:\/\/www.wework.com\/en-GB\/ideas\/research-insights\/innovate-or-else-the-economy-of-the-future-requires-disruption","title":{"rendered":"Innovate or else: The economy of the future requires disruption"},"content":{"rendered":"\n

The following has been excerpted from WeWork executive chairman and CEO of SoftBank Group International Marcelo Claure\u2019s keynote address at the <\/em>WeWork Innovation Summit<\/em><\/a>. It has been edited for clarity. <\/em><\/p>\n\n\n\n

To watch his full remarks, click <\/em>here<\/em><\/a>.<\/em><\/p>\n\n\n\n

It\u2019s hard to believe we have passed the one-year mark of the world going into lockdown. It has been a difficult year to say the least. I am more confident than ever that with the acceleration of vaccination distribution, we\u2019re on a path to clear recovery. We\u2019re embarking on a new normal, and we\u2019re seeing a glimpse every day of what that will look like.<\/p>\n\n\n\n

In business, we often speak about disruption, and it\u2019s fair to say that the global pandemic was the ultimate disrupter. It changed the way we live, play, and work<\/a>. <\/p>\n\n\n\n

The way we live:<\/em> social distancing, wearing masks, and staying at home rapidly became normal. Almost overnight, everything we did became virtual: fitness, meetings and, while hard to believe, even weddings.<\/p>\n\n\n\n

The way we play:<\/em> we went from going to bars and concerts and cheering our favourite teams at sport events to watching Netflix, Hulu, Disney+, and a lot of TikTok from our mobile phones. Our entertainment and social lives became digital.<\/p>\n\n\n\n

The way we work: <\/em>we went from going into an office Monday to Friday, five days a week, to working at our dining-room tables or desks at home. We had endless video chats with flatmates and families in the background. This pretty much eliminated the boundaries between our work lives and our personal lives<\/a> and, at least for me, it made it very hard to find a balance.<\/p>\n\n\n\n

Every sector was impacted as we shifted to a digital world. In the United States, e-commerce grew over 44 per cent in 2020<\/a>. This is compared to just 15 per cent<\/a> growth in the previous year. In healthcare, the percentage adoption of telehealth in the US skyrocketed from just 11 per cent<\/a> of consumers in 2019 to 46 per cent of consumers by mid-2020. In education, 1.6 billion students<\/a> all over the world were impacted when schools closed and they were forced to transition to online learning. <\/p>\n\n\n\n

Throughout this time, many of us around the world have suffered some unspeakable losses. We all know people who have been affected by COVID-19. But through all the hardship, we\u2019ve also seen some incredible evolution and disruption. Companies across industries were pushed to the brink of extinction. They had to innovate or else. For the ones that seized the moment, the ones that pivoted<\/a>, we saw a new kind of disruption. We saw a spark of creation that led to amazing development, accomplishments, and groundbreaking innovation that is improving the way we do everything in our lives.<\/p>\n\n\n

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