Why We Need To Prioritize Digital Transformation – Even in a Downturn
By James Cathey | Chief Commercial Officer, Qualcomm
Originally Published by World Economic Forum
Digital transformation is one of the most significant trends to have emerged in recent years – and a major topic of discussion at this year's World Economic Forum Annual Meeting. Expedited by the pandemic, companies across industries and regions sped up their adoption of digital and intelligently connected solutions and tools to compete in a rapidly changing business environment.
Digital transformation has become an important enabler for sustainable growth and innovation. It can stimulate new business models, services and revenue streams that can help companies boost bottom-line results. It can encourage greater operational efficiencies and productivity by streamlining complex processes, automating manual tasks and removing redundancies. Furthermore, it allows organizations to improve customer experience, which is critical to increasing consumer loyalty and repeat revenues.