Pandemic will prompt businesses to invest on digital transformation, authorities say

The Covid-19 pandemic has hurt many businesses nonetheless it will prompt them to future-proof their businesses by investing in advanced technologies such as for example artificial intelligence, data analytics and 5G, according to skillfully developed.

The companies which may have already invested in digital tools are navigating the crisis more successfully, while some will struggle until they invest in technology, experts said during a virtual panel discussion at the Global Manufacturing and Industrialisation Summit.

“We are working with AI so that you can optimise production, planning and in the end the efficiency and effectiveness of our sales team … in order to address where demand will be generated,” Pier Paolo Tamma, senior vice president and chief digital officer of Pirelli told the panel.

The Italian tyre manufacturer’s existing digital transformation programme has provided it with the info and insights to adapt the capacity of its manufacturing plants and adapt its supply chains, Mr Tamma said.

Shelling out for AI systems globally is normally expected to grow by a compound annual growth rate of 28.4 % to $97.9 billion in 2023, up from $37.5bn in 2019, according to IDC.

John O'Shea, mind of business intelligence and transformation at Dell Technologies, said that the pandemic has highlighted the developing importance of AI to optimise businesses.

“You have to gather more insights using technology … in order to better get ready for future years,” he said. However, authorities likewise cautioned against a potential digital divide that could appear if the technology roll out is normally uneven across some countries.

Better coordination between governments and businesses must prevent such an electronic divide from widening and leaving behind developing countries, panellists said. Meanwhile, purchase in digital infrastructure can be essential for expansion, Mr O'Shea said.

“Nearly 46 % of the global population has no internet connection … 5G technology will be crucial moving forward and we must ensure balanced distribution.”

Mr Tamma said Pirelli has leveraged valuable lessons from the pandemic to handle other crises later on.

“What we have learned this year from applying digital technology is that people can leverage the energy of data more to create better decisions,” he said.

“This is an extremely big game changer … to enhance your business and adjust to what is happening in the market.”

The 3rd edition of GMIS, a joint initiative by the UAE and the US Industrial Production Organisation, was scheduled to be held in Hannover in April but is currently taking place virtually due to the coronavirus outbreak.

The first edition of GMIS happened at Paris Sorbonne University Abu Dhabi in 2017, and attracted a lot more than 3,000 leaders from government, business and civil society.
Source: https://www.thenational.ae

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