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Embracing Technology ‘Essential’ For Businesses To Survive Downturn

By 23rd October 2020Blog

Businesses that want to survive the economic downturn and thrive in the future need to ensure they are embracing technology.

This is the recommendation from a report produced by PwC, with the World Economic Forum (WEF) highlighting the findings, including that fear of new technologies, such as AI, is preventing businesses from rolling out useful tools in their organisations.

According to PwC, there are several steps organisations should take now to help them improve their resilience as we enter what is expected to be a severe global economic downturn. 

The first stage is to evaluate how your business and suppliers performed during the pandemic. Which areas adapted well to the sudden shift to home working and where can you make improvements?

Making technology “integral to your business culture” is the second essential step outlined by PwC. It stated: “To achieve this, you’ll need a culture that trusts machines as allies rather than fear them as rivals.”

According to data from the WEF, by 2022, human workers and automated processes will share the workload of current tasks equally, while the introduction of technology will create new jobs for people. 

As we recently pointed out, with the possibility of further restrictions in the UK and talk of another lockdown, it’s worth carrying out a working from home health check with your staff to make sure that you’re working as efficiently as possible should this occur. 

If you need IT support and services in Doncaster for your business, get in touch with us today to find out how we can help.

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