In January 2021, the World Economic Forum published the Global Risks Report, its annually depressing read of things that can and might go wrong with the world. Among the highest likelihood risks of the next ten years were digital power concentration, digital inequality and cybersecurity failure. It is worth remembering that back in 2006 the same report warned that ‘lethal flu, its spread facilitated by global travel patterns and uncontained by insufficient warning mechanisms, would present an acute threat’. So the report is definitely one worth taking seriously.
The COVID-19 crisis accelerated digitalization in ways nobody could have ever predicted according to research from McKinsey. Consumers have headed online in their droves and companies have responded rapidly. Video has replaced coffee-shop meetings and conferences and cloud accounting solutions have seen a boost. Companies moved 40 times faster than they thought possible before the pandemic to implement remote working solutions.
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