Published on: Feb. 6, 2024
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According to the "Future of Jobs 2023" report from the World Economic Forum, over 85% of global organizations believe that the adoption of technology will impact their growth and transformation.
The report also identified key trends expected to drive corporate transformation in the next five years: Increasing adoption of new technologies and innovation, as well as expanding digital access;
Broader application of environmental, social, and governance (ESG) standards within organizations;
Macroeconomic trends: rising cost of living and slow economic growth;
Investments to drive the green transition;
Supply shortages and consumer expectations regarding social and environmental issues.
While technology is still seen as a factor that will transform nearly half of the companies in the next five years, other aspects have lost relevance as protagonists of business evolution. Among the items mentioned are the impact of the COVID-19 pandemic, growing geopolitical tensions, and demographic advantages in developing and emerging economies.
The report also emphasizes the importance of preparing the workforce for the technological transformation of companies. The interviewees indicated that a lack of skills is one of the main barriers to transformation. Therefore, it is essential for companies to invest in training and development for their employees to ensure they are ready for the challenges that will arise in the coming years.
How can companies prepare for digital transformation? Identify technologies that are relevant to your business. Not all technologies will be suitable for every company. Therefore, it is important to identify technologies that can help you achieve your strategic goals.
Create a technology adoption plan. Once you have identified the technologies you want to adopt, it is important to create a plan that outlines how you will implement and integrate them into your existing operations. Invest in employee training and development. Ensure that your employees are prepared to use the new technologies you are adopting. Therefore, invest in training and development to help them acquire the necessary skills. Foster a culture of innovation. Innovation is essential for digital transformation. Therefore, create a culture that values it.
Technology adoption is an ongoing process. Companies need to continually assess new technologies and look for ways to use them to improve their operations and better serve their customers. By preparing for digital transformation, companies can ensure they are positioned for success in the coming years.
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