Covid 19 forced the business world to change. Many were devastated and ceased to exist; those who survived evolved and adapted. While much of the world is still in the midst of this process, there is speculation as to whether the traditional model of the workplace will ever return. NewtonX has been giving their innovative AI fueled insight to the most well-known companies in the world like Microsoft, Greenbook, and a host of others across the globe. An article in Fortune magazine presented the company’s findings. Titled “What CFOs really think about the future of work", the study evaluated the “business temperature” of business leaders around the world. A webinar followed the article, conducted by three NewtonX experts including Head of Finance Lorenzo Seu. Mr. Seu relates, “The purpose of the article was to capture the changes, if there were any, in the perception of CFOs regarding the work organization.” Known for the remarkable accuracy their AI process delivers, the results of this NewtonX investigation provides perhaps the strongest indicator of where business is headed in the coming months.
The NewtonX process itself is indicative of the future itself in the wake of the pandemic. Online businesses and services are not new but Covid 19 illuminated the potential risks and benefits of traditional businesses moving forward. While many industries suffered greatly (weWork, restaurants, bars, cinemas, tourism), tech giants (Apple, Google, Amazon) and services like Zoom, DoorDash, Grubhub, Uber Eats boomed. Businesses who are able to tap into the digital/virtual aspects of the modern world provide reliable stability. NewtonX leverages AI in a connective database of over a billion experts worldwide known as the NewtonX graph. Clients are connected to experts (validated with an extraordinarily high level of specificity) via quantitative surveys that yield answers within only 5 days. NewtonX prides itself on revolutionizing the information gathering process with incredibly accurate and insightful results. This ethos is steeped in every aspect of the company culture with those like Lorenzo Seu who are redefining their professional roles. He informs, “My role as Head of Finance is much different than it has been for others in the past. I see myself as a strategist who is always on the look for ways to aid the company, whether that be in terms of saving expenses, establishing relationships with vendors and clients for the betterment of all, or creating a finance structure that allows the company to grow without impediments.” Mr. Seu continues, “The pandemic era put a lot of pressure on companies. I would say it was a huge opportunity to reinvent a business, seize new opportunities and market, re-organize internally but it was for sure much easier for tech or digital companies. Like most companies we had to adapt the work organization, adopt a few rules regarding virtual meetings cue to Covid safety.”
With a clear understanding of what NewtonX does, the answers obtained for “What CFOs really think about the future of work" might surprise you. Post pandemic, less than 40% of CFOs expect a return to a fully in-person workplace. Most CFOs anticipate a hybrid model but 80% of them don’t think their office space requirement will be more or less than 20% different from their pre-Covid requirement. CFOs don’t expect office size to reduce or increase significantly. This could be translated as less people (hybrid) for more space or it could indicate that they plan to hire more people due to positive economic recovery. While a full review of the NewtonX/Fortune presentation can be seen at (insert link here) the findings seem to indicate the uncertainty/hesitation that we all feel about a post-Covid world. While leaning towards a positive return to normalcy, the benefits of adapting and innovating to a new model are promising in regards to sustainability.
