Future Implications of COVID-19
by Michael Ohly
Today the world faces the COVID-19 pandemic. According to the World Health Organization, the last pandemic was the 2009 swine flu. COVID-19 already has had more of a global impact, shuttering borders and stifling economies across continents. Markets are facing turmoil, international travel is largely banned, an ever-growing number of states and municipalities have ordered residents to stay at home, and the United States has declared a state of emergency. While we don’t know exactly what will come next, we know areas that were struck earlier with COVID, such as China and Italy, are starting to see decreases in the number of COVID-19 cases and are beginning to loosen. What are the future implications of COVID-19? Here are a few.
Digital and In-Home Service. With many states and countries instituting stay-at-home mandates, we can expect businesses of all kinds to take a technological leap forward regarding internet services and remote work. Services that were previously not primarily digital and delivery, such as grocery providers and restaurants, are now doing so. While services that had a minimal virtual presence are quickly shifting to become the norm: medical practitioners providing telemedicine visits and courts holding regular virtual hearings. For law firms, those not adept at providing digital services are now becoming so or getting left behind. At least some of the advances will be permanent. BSP Law has long prided itself on its digital-firm mentality. While our advanced use of technology has always been one of BSP’s strengths, it is now essential.
Science and Medicine. Though pandemics are not new, science and development will receive attention and funding as the world faces its most serious pandemic in a century. Everywhere, people and companies are recognizing that each day without advanced testing and vaccine development is another day of increased illnesses and economic challenges. In the immediate future, science and health will be key industries, driven by rapid innovation. BSP has always assisted clients with the challenges of cutting-edge development—from advanced driver safety systems to pharmaceutical development—and stands ready to do so now, where so much hangs on society’s ingenuity.
Longevity and Relationships. As clients and law firms come out together on the other side of these challenging times, their relationship will be more important than ever. Indeed, their ability to work together to face the difficulties of the COVID-19 pandemic will be a great shared victory. That relationship must be strong to confront the radical societal changes that are sure to come in the future. Those, like BSP and its clients, who can thrive during this time will be ready to face whatever comes next.
The challenges and changes brought on by COVID-19 are BSP’s strengths, and we remain ready to assist our client partners in weathering the storm and meeting these unprecedented challenges head-on.