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Statistics show that companies that are evolving by embracing speed and agility are growing at twice the rate of companies that are struggling to scale innovation.
It’s universally agreed that one of the most significant changes that have been brought about by the COVID-19 is the shift in the way people will live and work in the years to come. Given that technology and digitisation will be central to this shifting dynamic, the role of data scientists in enabling and informing business strategy has never been bigger or more important.
To prepare for uncertain times, we need to develop robust business models and structures that allow for experimentation and to see what grabs and what doesn’t grab. The engineering and construction sector has been operating in the same way for decades, is one of the least digitised industries in the world (21 out of 22 industries) and has not enjoyed significant productivity growth in recent years.
In a world where digital is now everywhere and data is driving everything, trust has become the currency of value. To trust is human. It’s through that invisible human bond that all business and societal relationships are developed and sustained.
Following the endless stream of COVID-19 headlines, extended lockdowns and associated economic hardships, we are all suffering from Armageddon fatigue. It is easy to become pessimistic in the face of the very real challenges we are grappling with.
People’s love for technology has let businesses weave it, and themselves, into our lives, transforming how we work live and interact in this new world which we are referring to – in our Tech Vision 2020 – as the 'post-digital era'. But now we are being held back.
The impact of digitisation on small and medium enterprises is significant. Savvy SMEs can turn this to a huge advantage as they can do things quickly and in a more agile manner than big businesses. However, challenges abound when trying to protect innovative products and processes.
The 4th Industrial Revolution (4IR) is gaining traction in all sectors. Artificial intelligence (AI), robotics and automation are being applied to create ingenious innovations – advancements aimed at making life easier, improving productivity and speeding up the evolution of industries.
As exponential technologies are more widely adopted across the globe, we’ll see professions transform. Some will be disrupted entirely due to advancements in automation, mechanisation and robotics, but this will also create space for new technology-enabled job opportunities that we cannot yet imagine.
When the concept of volatile, uncertain, complex and ambiguous (VUCA) was coined by the U.S. Army in the 1990’s to describe how crazy the post-Cold War years were, those early proponents had no idea that this would continue to be true for years to come.