In the face of covid-19, the most agile companies have shared a holistic adoption of digital tools across their businesses. By combining flexible technologies and platforms, risk-management solutions and analytics tools, some firms have been able to adapt rapidly to covid-19 curveballs. They have pivoted supply chains, served customers virtually and enabled remote work while automating mundane tasks. For these businesses, the foresight to digitise before the pandemic may have made the difference between resilience and retrenchment.
As economies reopen in earnest and the urgency of responding to covid-19 recedes, the lessons learned from the pandemic could prove to be priceless—if implemented correctly. Companies must look to the innovative tools at their disposal to protect against future shocks and set themselves up for growth. Reliable cloud platforms will let staff work flexibly and remotely, removing location as a barrier to hiring talented workers. Repetitive tasks can be automated to free up time so that everyone from chief executives to interns can focus on critical jobs that computers cannot do. Artificial intelligence and analytics platforms will provide real-time insights and improve decision-making.
But wholesale digital transformation is no easy task. The costs of upgrading systems across the board may be prohibitive for the companies that have suffered most from the pandemic. The Federal Bureau of Investigation (FBI) says that cyber-attacks have roughly quadrupled since the outbreak, so security must remain high on the list of priorities. And when the options for transformation are vast and varied, how do bosses determine where to start, and what their companies and customers need?
In Rise or retreat, a new virtual discussion hosted by The Economist Events and sponsored by Box, tech leaders will outline best practices and share how they plan to redesign their businesses with nimble and versatile technologies at the core. Key discussion points may include:
What lessons have been learned from covid-19? How can these become foundations for future growth?
How do you build an agile technology framework for your business and begin a digital transformation strategy?
What are the key metrics for evaluating success? What does successful transformation look like?
How do corporate leaders determine whether short-term costs will pay off in the long run?
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