Digital Transformation at the Service of Recovery
We need to capture the social and business value of technology to reduce inequality
Over the past few months, words such as volatility, uncertainty or complexity have assumed a leading role in analysis and in opinion spaces. However, other less mentioned words, such as solidarity, commitment, empathy, productivity or vision, have now developed a different meaning, magnified in the context of a pandemic with a high impact in each and every area.
The role of governments, enterprises and society should not only be adapted to the circumstances, but also redefined with a view to tackling a situation in which everyone will participate and, beyond that, contribute with solidarity and commitment. Society needs companies and companies need society. This is also true of governments and, in general, the roles and functions of each and every one of us within this vast social universe.
In this regard, a few days ago, EGADE Business School published the Decalogue for the Economic-Business Refounding of Mexico, which contemplates key aspects for a more solid recovery through solidarity, ranging from the role played by companies in generating both social and economic value, the importance of innovation and entrepreneurship or inclusion topics in education, to participating in the imminent trend of technology literacy with its corresponding social impact. In particular, this decalogue urges us to “capture the social and business value of exponential technological change accelerated by the pandemic.” Digital transformation has become a sine qua non of the new reality in all sectors.
Many business models are now extremely compromised, making their redefinition necessary in the face of a social distancing reality. Now is the time to observe where value proposals are in business, since the focus is no longer just on product quality and price, but also proximity, use value and durability, among others.
Technology has come to play a greater role in this redefinition: as an enabler of online sales platforms, distribution and contact logistics, communication and virtual customer service; as an automator of processes in a world where Industry 4.0 has become particularly relevant; and as an administrator of customer data and information that will permit a more efficient management of the company’s resources and assets. Regarding the greatest coincidence with consumers’ needs, and changes in their buying patterns and scale of values – for example, do people who home office place less value on luxury brands owing to physical isolation? —, does it generate another context and place greater value on product use and effectiveness to solve a need? This must all take place within a dynamic of a shorter- rather than medium- or long-term spectrum.
Market conditions have also changed, starting with the privacy of individual consumers’ decision-making. Nowadays, technology plays a different role in our lives, having become a more than necessary work tool in this subsistence of productivity and work reality, instead of, in some cases, an entertainment component.
We must not forget that, unfortunately, in a social context of unequal opportunities, the realities are very diverse in terms of access to technology. Let us consider the education sector: huge opportunities arise when migrating from face-to-face instruction to a virtual format –educational platforms, infrastructure and instruction methodologies, etc. However, there are also enormous challenges, such as whether or not students have access to the internet or a computer, together with their ability or familiarity in their use. A large number of people do not yet have the option of accessing these opportunities and enjoying the enormous benefits of digital transformation.
Even though technology has, in fact, become increasingly democratized, there is still a long way to go. Some companies and consumers have benefitted, to a greater or lesser degree, from technological advancements, but we need to extend them to every member of society, with a focus on sustainability and inclusion. Without doubt, this crisis context resulting from the pandemic has highlighted the role of digital transformation in our lives, while inviting us to understand the challenges and, above all, the opportunities it has generated.
Artículo publicado originalmente en Mundo Ejecutivo.
