Davos 2020: shaping the future of the Digital Economy

We’ve told you about how our CEO Luigi Matrone is among the experts at Davos 2020 and have shared the key learnings from the ‘Shaping the future of consumption’ session. Here, we pull out the highlights from ‘Shaping the future of the digital economy’.

This session chiefly tackled the question of how technology will further disrupt business and society in what is already an incredibly disrupted landscape.

We’ve captured the key takeaways from the ‘Shaping the future of the digital economy’ below.

PayPal, Salesforce and Ericsson leaders among the panellists

The ‘Shaping the future of the digital economy’ panel — Image source: Twitter

Disruptive forces that will shape the future digital economy

This is thanks to the power of emerging technologies — like Artificial Intelligence, machine learning, advances in Cloud, and high-speed, low latency 5G that enables greater connectivity — that enable innovation to build upon innovation, and improve business and the world around us.

The Fourth Industrial Revolution [1] is likely to play out for many years, and new ways of doing things are being invented every day.

This is the era of digital transformation — but how can business leaders best embrace change?
Image source: Getty

The era of Digital Transformation

This means that every CEO needs to effectively be a Chief Innovation Officer in order to ensure their organisations keep step with — or ahead of — change in an ever-more competitive environment where businesses can’t afford to keep still.

Data driving innovation

We’re already seeing this powerful use of data in the world of payments, and every platform company will be able to use data to transform business models and create economies of scale.

The potential of data is endless, which is why it’s so important that businesses can properly understand and harness it.

Data has the power to bring us closer to customers and understand their needs — Image source: Intel

Trust and responsibility

As any brand expert will tell you, trust is of paramount importance to customers. Without the trust of their customers, businesses have nothing — especially when consumers expect higher and higher ethical standards from the brands they buy from.

Doing ‘good’ for the world around us is no longer a nice, fluffy PR exercise, but something that should be inextricably linked with success and profitability. Powerful, disruptive technology innovations and data must be used to improve the world around us.

Helping you embrace the opportunities

But the potential of these new, powerful tools can also, quite understandably, be daunting to many businesses and their leaders.

Our CEO Luigi Matrone is among the experts lending their voices and visionary thinking to discussions at Davos 2020.

As one of the world’s leading authorities in digital transformation, he and other experts at eBusiness Institute are helping companies around the world to prepare for the drastic and exciting changes to come. If you would like to learn more about our services and how we can help your business thrive in the future, please contact us.

This article was written and created by the eBusiness Institute Team.

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Sources

[2] https://link.springer.com/chapter/10.1007/978-3-642-58327-8_2

[3] https://www.pwc.co.uk/

Originally published at https://ebusinessinstitute.com on January 23, 2020.

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