IT, make-or-break new normal factor
We have seen a massive shift in IT prioritization, requiring organizations to recalibrate IT investments
Information technology is still deemed the key to survival among enterprises in dictating the success of small business owners.
During the opening of the CXO Innovation Summit 2022 in Shangri-La Boracay in Malay, Aklan, Jimmy Go, president, and CEO at VST ECS Philippines, Inc., emphasized that innovation remains the key for companies to be protected from future economic uncertainties such as global recession, among other inevitable headwinds.
“IT modernization underpins the success of all enterprises. At the height of the Covid-19 pandemic, technology has been pivotal to keeping businesses agile, staying connected with colleagues, friends, and families, enabling online education, supporting remote work, and enabling companies to operate,” he said.
Quoting a report from the global management consulting firm McKinsey and Company, Go said the contagion has even pushed companies over the technology tipping point, transforming businesses incessantly.
“We have seen a massive shift in IT prioritization, requiring organizations to recalibrate IT investments. As digital adaptation takes a quantum leap, new opportunities emerge, but it’s also sad that we are also exposed to lots of vulnerabilities. Now that the digital channel and physical platform have been accepted for communication and transaction, IT is at the center stage,” he said.
To address the demands of the changing world, he said enterprises need to prepare for the unpredictable future where technology is the center of innovation for the success of every business.
Future norms
With this, he said the new normal is seen being dominated by a lot of innovations, changing the brick-and-mortar way of life, namely artificial intelligence, bitcoin, financial technologies, digital transactions, smart city, virtual and augmented reality, renewal energy, and circular economy.