The whole world should thank technology for being such great support during the current tough time. From the most straightforward money transactions to the most complicated medical tasks, the artificial intelligence-based cognitive technology is a hero.
A great help could be ensured to the businesses that are on the verge of sinking. As a businessperson, I also agree that technology is our lifeline.
By the way, hello I am Jacob Brown, who runs a pharmacy business in Bristol. I facilitate home delivery of medicines, but this work became tough for my team and me. Also, I get orders from hospitals.
Here starts the struggle of my business with corona
When lockdown started three months back, we were stunned. Our prime concern was the survival of the business as well as all the employees connected with it. The conditions were extremely uncertain.
Currently, lockdown is applicable, but with some flexibility but on the initial stages of ‘stay home’ days, you know how it was.
The prime challenges for my business were –
With above, many other changes crossed my way and every passing day brought new anxiety and a challenge for me.
Things went out of control
At first, we all were home locked with a sudden stop on business. My employees, staff, the delivery drivers etc. all were in their homes. We all were thinking about the consequences and also how should we manage the conditions.
Everyone was waiting for my response, and I was confused about my future action plan. Things were topsy-turvy, and I was annoyed with the strong feeling of helplessness.
The issues I had to resolve were
- Stability of business.
- Management of daily operations.
- Coordination with the suppliers, customers, stock manager, other employees.
- Legal issues were also there, crossing the borders of the two cities or states was almost impossible.
- Had to arrange a pass to ensure the normal to and fro movement of the medicine stocks.
I decided to tackle the conditions through artificial intelligence tools
It was not difficult to realize soon that things have changed for a long time, and normalcy will not come back so quickly. I am a firm believer of progressive approach and thus love technology because it is a perfect anchor of development and progress.
Improved picture of business during corona
THANKS to Artificial Intelligence
It was clear that if I want to keep earning and serving my customers, I cannot sit idle and let the situations spoil may hard-work of years.
I used technology in the following manner to keep running the business operations =
- Things that handled through smart tech.
- Chatbots to respond to customer queries through.
- Medicine delivery and prescription requests came online.
- SAP (Systems Applications and Products) for Data management, analytics, data visualization, office integration.
- Accumulate record of earnings of the company.
- Smart Dashboards to get multiple views of varied connected systems.
- Fraud detection in financial transactions through AI-based algorithms.
Connectivity between my staff and me was the biggest favour that I got from cognitive technology. The presence of smart business intelligence tools made things easy. Things came in control, although not completely. Currently, we have developed the habit of working according to the changed situations.
Effect on my personal financial life
As the business could not perform well in the first 45 days of lockdown, I had to face issues in my personal finances too.
- My debts were going up, personal loans, credit cards, a small business loan etc. It affected my credit score too and my good credit score transformed into a fair credit score.
- My future financial goals were in a fix. I had some investment plans in some lucrative stocks, but when the whole economy is in loss, how can I do anything.
- Before lockdown, I was looking to find the best remortgage deals with no fees, but the mortgage market went down. The broking company is quite advanced in approach you can get every information on voice-activated mortgage app. of the company. However, I managed to get a mortgage broker Shine Mortgages that is currently working on my application. The broker suggested my smarter ways of credit score improvement, and I am working on them to get back to normalcy.
I cannot say that my business has come back to the previous health, but at least I am not out of the market. I am still working with the best possible efficiency. I feel we are getting to the ‘it is manageable’ zone where we will manage work in a far better way. Not need to mention that technology is the crucial factor here. Yes, the threat to health is more significant now, but life cannot stop, and it has to move on.