AN IMPERFECT REVOLUTION – BUT THE
CONDITIONS ARE RIGHT
Alas, there’s more than enough reason to
suspect that any digital revolution that does
occur in the wake of COVID could be highly
fragmented and stop-start in nature. There’s
the research from Boston Consulting Group,
for example, which indicated that 70% of
all digital transformation initiatives fail to
reach their goals.
Then, there are the lessons from more distant
history; the Wall Street Journal suggested
in 2001, following the dot-com crash, that
the Internet might not match the 98%
US penetration enjoyed by television
for another three decades. Sure enough,
even today, a mere 93% of American adults
actually use the Internet. It’s possible for digital
‘progress’ to hit rewind, or at least be severely
bufeted by events.
But let’s look at some of the reasons why
COVID-19-era digital transformation is
probably here to stay for many of us – not
least the fact that there’s so much scope for
growth. Digital has also shot to the top of
many organizations’ and governments’ priority
lists. It’s intriguing to note, for example, that
across the Atlantic, the European Union (EU)
has made digital transformation central to
its post-pandemic recovery plan. The bloc is
making available funds that member states
can access to digitize their economies, amid
hopes that the money will be put towards
such initiatives as ultra-fast broadband, aid
for start-ups and small businesses, and digital
skills training.