Marcus Mason, Head of Business, Education and Skills at the British Chambers of Commerce (BCC), comments on the publication of the government’s Digital Strategy
DIGITAL TRANSFORMATION: UNLOCKING THE POTENTIAL OF GLOBAL BRITAIN
Business and consumer attitudes and habits changed irreversibly during the pandemic. To rebuild our economy, we must invest in our infrastructure and ensure it is fit for the future.
BCC and HCL Technologies having been working on a new report - Digital Transformation: Unlocking the potential of Global Britain.
The report focuses on how government, industry and the workforce can come together to embrace growing digital transformation.
Anubhav Mehrotra, SVP & Head of Financial Services – UK & Ireland, HCL Technologies
In the last two years, the world has faced an unprecedented crisis that resulted in new and unique challenges - not just for businesses but for the entire socio-economic system. The pandemic brought about massive disruption but the technology space kept growing. It acted as the ‘corona-warrior’ for the entire economy, uncovering various innovative solutions and ensuring continuation of activities. Consequently, digital adoption has taken a quantum leap at all levels, and nations have risen up to creating a digitally enhanced ecosystem in their respective countries.
Global digital transformation leapfrogged 7 years in a matter of months, a study by McKinsey & Company has found. Businesses across different industries demonstrate agility and success through their digital initiatives.
The UK economy has realised the pivotal role technology can play to aid in the nation’s recovery and growth, as set out in the Government’s recent Technology Innovation Strategy. The sector thrives in the UK, attracting good talent and huge investments. The UK attacted over £6 bn in venture capital investment last year, outperforming Europe.
The UK economy has turned to technology as a key driver of growth. Government, industry, and workforces now need to integrate technologies including Artificial Intelligence (AI); Internet of Things (IoT); 5G connectivity; and Cloud computing.
Digital Transformation – The Road to Recovery for the UK Economy
Digital initiation offers enormous opportunities including:
- capitalizing on emerging new consumer behaviours;
- utilizing huge volumes of data to improve business efficacies;
- creating technology-powered robust supply chains; and much more.
The growth potential is immense for industries with legacy digital infrastructures such as fintech and retailers, but also for logistic and delivery sectors. During the pandemic, various sectors accelerated their digital transformation journeys. UNCTAD, in its Report on COVID-19 and E-Commerce: A Global Review, has stated that the share of e-commerce in total retail sales in UK rose from 20.3 to 31.3 per cent.
The Workforce Institute at UKG, found that the pandemic propelled 87% of the UK workforce into new ways of working underpinned by digital technology. 86% of those surveyed appreciated the advantages digital initiatives bring to work processes.
Digital technologies, digital growth, and an effective data strategy will support the post pandemic recovery. These initiatives allow data to drive digital transformation, innovation, and boost economic growth.
“The importance of digital technologies is essential to understand. Focussing on digital growth allows the UK Government to drive digital transformation, innovation. Boosting growth across the economy.” – Anubhav Mehrotra, SVP & Head of Financial Services – UK & Ireland, HCL Technologies.
HCL’s range of services for accelerating Digitalisation in UK
HCL can play a major role in supporting UK government, businesses and local institutions to transition to a state-of-the-art digitized economy. HCL, a global innovator of digital transformation, can strengthen critical game-changing technologies reinforcing growth aspirations for the economy and redefining technology for business advantage. We deliver modern and resilient solutions to our customers through rapid digital transformation capabilities.
HCL’s transformative technologies help enable faster development in sectors including Data Analytics, Financial Services, Cloud, Cyber Security, Engineering & R&D Services, Digital Process Operations, Application Services, Digital Engineering, amongst others. The growth of these areas would immensely facilitate the transition of UK as a global digital economy.
At HCL, we have always believed that technology and people working together can generate positive change that will advance the world to the next stage. Our offerings in the above defined areas, armed with our core belief of innovation through digital transformation will strengthen the business environment and foster socio-economic development in UK, going forward.
 Government of UK, Retrieved from Government Technology Innovation Strategy - GOV.UK (www.gov.uk)