INSIGHT
Now, more than ever, biz needs tech
24 April 2020
Now, more than ever, organisations need technology.
For years, experts of all persuasions warned the companies that would really succeed were the ones which embraced technology. Businesses around the world have just found out how technologically advanced they are – and done so the hard way.
The coronavirus, or COVID-19, crisis has forced the hand of many businesses when it comes to tech. With offices shut around the world, many organisations are relying on various technologies to help them work remotely and to ensure some semblance of business continuity.
At ANZ, we explored these themes recently in our Tailored with Technology series of reports. The reports were based on a survey of over 750 executive-level business leaders from around the world, who were quizzed on their expectations around technology’s impact on growth, sustainability and the economy.
The first report, Tailored with Technology: Corporate Growth, found these executives believe technology plays a vital role in allowing businesses to “grow internationally, to improve efficiencies, reduce costs and provide their customers with a better experience”.
Big data, artificial intelligence, the internet of things and the cloud were all high on the list of technologies expected to induce growth in the coming years, with 91 per cent of indicating plan to increase their adoption of these and more over the next five years
The Economist Intelligence Unit, commissioned by ANZ institutional, surveyed over 750 executives across the technology, resources, energy and infrastructure, food, beverages and agriculture and financial services industries in seven key markets: Australia, China, Hong Kong, New Zealand, Singapore, United Kingdom, United States and India.
The survey, conducted in the spring and summer of 2019, was designed to capture insight into the role of technology in corporate growth, sustainability and the macro-economy.
Three reports were written based on insights from the data. You can read the third report HERE.
As the world continues to work toward the inevitable recovery from the coronavirus, a number of uncertainties about the shape of the post-COVID-19 order remain.
One thing that is clear is that technology will play a large part, and – just like the word pre-coronavirus - the companies that succeed are more likely to be the ones which embrace technology.
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