Innovation Through Digital Transformation Now A Necessity
As businesses look to cope and come out on top of this economic crisis, which comes at a time of a global economic slowdown, experts have repeatedly advised leaders that technology will be one of the key enablers of any remodelling of business functions that they want to implement.
However, India is still in the initial stages of digital transformation despite favourable conditions such as having one of the youngest populations in the world who also happen to be fast adopters of technology, lowest data tariffs and public and private sector push through major projects such as the Aadhaar.
In fact, according to report released by McKinsey & Company post a survey of 600 companies, India is still at 40% of digital transformation adoption. Large companies who can be considered as leaders of technology or digital aggregated a maximum score of 58.2 in a scale where 100 is seen as complete adoption.
But can companies keep to the same pace of adoption during the pandemic outbreak? The simple answer is no which means that digital transformation can no longer be looked as an option but a necessity.