HOW DID THE COVID-19 PANDEMIC FUEL DIGITISATION AND TECHNOLOGICAL Innovation?
Roman Semiokhin,
investor and
serial
entrepreneur.
How Did
THE COVID-19 PANDEMIC FUEL DIGITISATION AND TECHNOLOGICAL INNOVATION?
2
Roman Semiokhin
COVID-19 sped up adoption of digital technologies by several years, according to a survey published by McKinsey & Company in October 2020. Data gathered by the company also suggested that these changes could continue for some time to come.
To remain competitive in the postpandemic business and economic environment requires new practices and strategies. The findings from McKinsey & Company’s research
suggest that executives are increasingly coming to recognise the strategic importance of technology as more than just a source of cost efficiencies – it is a critical component of the business.
Digital adoption has taken a giant leap at both industry and organisational levels. During the pandemic, shoppers took their spending power online in their millions, with companies, and indeed entire industries, forced to quickly adapt.
McKinsey & Company’s survey confirms this rapid shift to digital channels, with rates of adoption years ahead of where they were in previous surveys. The report suggested that acceleration was even more pronounced in Asia than in other regions.
The survey data revealed that the COVID-19 crisis marked a tipping point of historic proportions – and that still more changes will be necessary as the human and economic situation evolves.
3 Roman Semiokhin
ROMAN SEMIOKHIN
To learn more about digital transformation, visit the blog of Roman Semiokhin.
