COVID-19-Shock: Considerations on Socio-Technological, Legal, Corporate, Economic and Governance Changes and Trends
Keywords:
business, economics, access to healthcare, artificial intelligence (AI), behavioral economics, behavioral insights, ChatGPT, comparative law, coronavirus, corporations, corporate governance, COVID-19, crisis, digitalization, digi-disruption, economic growth, healthcare, herd immunity, history of pandemics, interest rate, legal frameworks, market disruption, pandemic, public policy, technology, technological changesAbstract
Concurrent with an already ongoing digitalization trend, the COVID-19 pandemic implies widespread changes for individual decision makers in their adoption of technological assistance but also in giving up decision making to Artificial Intelligence (AI). Economic facets of collective learning processes during the coronavirus crisis are outlined with a special emphasis on the currently ongoing digital disruption. As a widespread external shock to the world economy and legal order, COVID-19 affects corporate conduct profoundly. The legal implications and societal changes’ impetus on corporate conduct are depicted in order to derive future corporate governance prospects. From an evolutionary dynamics market perspective, a trends prediction sheds light on what kind of firms are likely to fail and which may survive and which ones could thrive in the following years and decades to come. International differences in the handling of COVID-19 are highlighted in order to envision future global public healthcare. The recommendations address the importance of well-calibrated goals to cure our contemporary humankind and protect our future common world population.
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