COVID-19 Pandemic and acceleration of Digital Transformation

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acceleration-of-Digital-Transformation COVID-19 Pandemic and acceleration of Digital Transformation

The COVID-19 Pandemic is a crisis that will have far-reaching and long-lasting consequences for society and our global economy. As the coronavirus continues to spread around the world, more and more businesses miss their financial goals due to delays in the supply chain and rising customer demand.

It is also unclear how long this pandemic will last, as there is no vaccine to fight it yet, nor is there any accepted therapy to slow down the human body’s toll. What should be obvious is that COVID-19 will have a dramatic impact on most companies for months, probably years. Bottom line: this is not going to be a short-Term occurrence, and companies need to plan for the long run. During the previous session Coronavirus Outbreak: Business continuity & IT Leaders priorities, we have covered some of the priorities for IT leaders

CIOs should prepare IT systems now to safely and reliably handle a vast increase in remote workers and digital fulfillment of market demand mentioned in the blog written on Gartner

Organizations have been working on digital transformation with varying degrees of commitment for at least the past 10 years, but it is not until now with COVID-19 that we will see the digital transformation inflection point in business model changes, enabled by the adoption of cloud services and the emerging technologies AI, IoT, business analytics, enterprise mobility, and social business The widespread of coronavirus has changed the buying habits of customers and the way companies do business forever. The programs we can use without leaving our homes continue to grow exponentially every day.

Businesses are forced to use digital technologies

As countries go into isolation, we are seeing people being forced to keep social differences and work from home. In times like these, digital technologies are becoming more relevant than ever before. We may not be able to remain physically close to each other, but we still need to interact with each other, both socially and professionally.

Some of the priority areas where digital transformation is accelerating:

  • Supply-chain
  • Ability to Work from Home
  • Telehealth & Healthcare
  • Remote Learning
  • Events Going Virtual
  • Teleconferencing
  • Digital media
  • Digital Banking

According to Mickensy article published March 2020, which talks about acting across five stages, leading from the crisis of today to the next normal that will emerge after the battle against coronavirus has been won: Resolve, Resilience, Return, Reimagination, and Reform

The-five-horizons-1024x581 COVID-19 Pandemic and acceleration of Digital Transformation

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Related posts:

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  2. Common myths about Digital Transformation
  3. Digital Transformation of Leaders
  4. How to develop a digital transformation strategy