Digital transformation provides enormous potential for organisations grow their businesses, albeit, they understand and plans for the prerequisites of the transformation. A key critical success factor of any digital transformation initiative is obtaining an understanding of and planning for all required forms of transformation.
The much-hyped oil and gas industry too is facing several challenges during the ongoing pandemic days. Digitisation and adoption of related technologies in this sector has manifold benefits for the sector itself and also its ancillary industries.
In a country like India, with its vast geography and the second largest population in the world, fintech has been reaping plentitudes of benefits. Be it startsups mid-sized firms, or big corporates, everyone is leveraging the country’s tremendous IT potential, everyone is being able to script their success story riding on the back of the growing digital wave.
Summary: The pandemic has become a modern-day kingmaker, bestowing record profits and growth in some industries. However, it is not just mere luck. The best companies are innovating faster than their peers, investing in their people, and making the most out of their data. Combine this with a little bit of luck, and you end up in a fantastic place.
Summary: Many companies put efforts into recruiting and hiring from a larger pool of candidates. As great as it sounds, bringing people onboard is not the same as creating a high-functioning, productive work team, and certainly not the same as making it inclusive.
Summary: For companies and their employees, the tide has turned. Proficiency in solving problems and analysing data are no longer the keys to success. The ability to listen, communicate, and empathise is becoming increasingly valuable in the workplace.
Summary: The growing importance of digitalization in MSMEs is not only the policy agenda but is also important for the survival of this segment. Digitalisation will not only improve their competitiveness, but also benefit society at large because SMEs are the main service providers in the regional economic growth and innovations.
Summary: The fourth industrial revolution—riding on the back of data and analytics—was already underway as the COVID-19 pandemic struck. A faster and fuller adoption of this revolution will help companies get onto the path of recovery faster.