COVID-19 has speds up the adoption of automation. Execs from Boston Dynamics and Brain Corp. told the Brew in Q2 that they’ve seen surges in demand for robots that can do dull, dirty, and dangerous tasks.
Also, there is a new dominant use case has emerged for robots: cleaning/disinfecting stores, airports, hospitals, and subway systems.
COVID-19 has also sped up the adoption of telemedicine. Telehealth visits could top 1 billion this year, per Forrester, which initially expected just 36 million for 2020. Also on the health-away-from-the-hospital front, researchers are trialing wearables to detect COVID-like symptoms.
The outbreak has also shifted more people to online shopping as physical store locations have been shutdown and people view shopping online as the safer option. Just as malls are being replaced by online fulfillment centers, more cloud kitchens and mini-warehouses are popping up across cities with the rise of food/grocery delivery. This shift requires more last-mile delivery, which tech companies are looking to automate (think drones or sidewalk delivery bots).
The coronavirus has also caused a lot of businesses to invest in technology that allows their workers to work from home. Streaming video, teleconferencing, online meetings, cloud services, collaboration tools, cybersecurity services, are just some of the tech in high demand.
With more people out of work and at home, streaming video entertainment services are also on the rise. Consumers are adding Netflix, Disney+, HULU, and other streaming video/TV platforms to their homes so that they have more to watch.
Spencer Rascoff, Zillow cofounder, angel investor and Palantir board member, joins “Squawk on the Street” to discuss his tech calls and tech valuations.