As we have seen over the last several months. COVID-19 is impacting multiple domains. I had explored the Possible Implications across these domains in a post earlier this year. The visual below reflects some of that work (click to enlarge). Now months later, we see indications of potential paths or responses.
Three signals appeared in the news recently. First, Universal Basic Income (UBI) is back in the news. Germany is now running a trial focused on 120 Germans that will receive $1,400 per month. The three-year study will explore how UBI affects the economy and recipients’ well-being. The study, conducted by the German Institute for Economic Research, has been funded by 140,000 private donations. This could be an early indicator of a move towards Institution 2.0. It was clear prior to the pandemic that the institutions that form the foundation of society are antiquated and not fit for the current world. The pandemic made this all the more visible.
The second signal is an indication that Rents are Falling. One implication of the pandemic is the reversing of the mass urbanization projected for the future. What if a fear of dense places drives this reversal? We are already seeing a move out of cities. What does that move mean for rent in major cities? Average rents are down 7% in New York City and Los Angeles, and 3% in Boston Nationally, real estate firm CBRE predicts multifamily rents will fall by about 8% this year and not fully recover until 2022.
The third signal is a trend that was talked about, but may now accelerate as a result of the pandemic. Several factors were pointing towards a Disruption of the College Degree. Google recently made a huge announcement that could change the future of work and higher education: It’s launching a selection of professional courses that teach candidates how to perform in-demand jobs. Google’s new certificate program takes only six months to complete, and will be a fraction of the cost of college. According to the article, these courses, which the company is calling Google Career Certificates, teach foundational skills that can help job-seekers immediately find employment. However, instead of taking years to finish like a traditional university degree, these courses are designed to be completed in about six months.
All these signals help us see potential paths. The response side of this forward-looking exercise is critically important. A similar visual (below) focuses on the response side.
Explore more about COVID-19 via these earlier posts.
FEATURED: A Post Pandemic Society
- A Glimpse Into Your Views On Catalysts For Change
- The Future Of The Office And Changing Work For The Better
- Tectonic Shifts Expected As Digital Expands
- COVID-19 Is Not Slowing Artificial Intelligence Down
- What History Tells Us About Deglobalization
- The Augmented Age: An Accelerated Path
- The Personalized Health Ecosystem
- Aftershocks and Opportunities: Scenarios For A Post-Pandemic Future
- The Emergence Of New Commerce Centers And More
- Some Job Opportunities Likely To Expand
- The Far Reaching Implications Of A Shifting Work Dynamic
- Reflect, Reimagine, and Reset
- Human Behavior Determines The Path
- The Technologies And trends Accelerated By COVID-19
- Blasting Into A Contactless Future
- Digital Learning And Resilient Supply Chains
- Will Coronavirus Accelerate the Path To A Surveillance State?
- Does COVID-19 Accelerate The Loss of Jobs To Automation?
- Lack Of Comfort In Close Spaces
- A Post-Pandemic Virtual Roundtable
- Learning From Leaders Around The World
- A Digital Divide
- What Behavior Changes Will Stick?
- 30 Top Experts Describe The Things That Will Change Forever
- Global Economic Recovery
- Does COVID-19 Change Your View of Innovation?
- COVID-19 As An Accelerant
- COVID-19 Tuesday Morning News
- How Long Until The Economic New Normal?
- We Must Think Critically and Differently
- How Might The World Respond?
- Rehearsing Possible Post COVID-19 Futures
- Possible Futures Emerging Across Multiple Domains
- More Thought Leaders Weigh In On A Post Pandemic Future
- Mid-Pandemic Impact on Supply Chains
- Post COVID-19 Economic Recovery Scenarios
- Is The Canary Dead?
- How Will The Corona Virus Impact Globalization?
- The Corona Virus Serves As A Catalyst For Change
- Post COVID-19 Economic Recovery Scenarios
- COVID-19 Monday Morning News
- Anatomy Of An Outbreak
- Discussing A Post-Pandemic Society on Salem Radio Network
- The COVID-19 Economic Impact On China and a Glimpse Of The Future
- Assessing A Post Pandemic Future: A Video
- Coronavirus: Permanent Change? 34 Big Thinkers Explore the Possibilities
- Futurist Gerd Leonhard Looks Back From The Near Future