Technology has always been one step behind business demands, but what if the cloud could allow you to innovate at the speed of business? If you take a look at the status of the business world today, you will not fail to recognise the impact of cloud computing in operational efficiency. As such, most medium and large businesses now rely on cloud services to store or access their crucial data. Through its diverse capabilities, organisations and entrepreneurs alike are utilising this technological advancement to enable fair innovation opportunities prevalent in the current era.
The focus is now on future survival and resilience.
The pandemic has significantly transformed the perspectives about technology. Businesses are redefining their strategies and accelerating their investments in core technologies such as cloud, process automation and artificial intelligence. As opposed to the traditional productivity and efficiency measures, businesses are now prioritising on objectives with a longer time horizon to value realisation, enhance collaboration, flexibility and interoperability. The focus is now on future survival and resilience.
Cloud computing is in fact at the top of the agenda. However, cloud solutions were, and still are very complex endeavours. Understandably, integrating the cloud into business infrastructure may not be as smooth. The COVID-19 situation has put into perspective how unprepared many businesses are to suddenly have to do things differently. The business challenges caused by it, might be a catalyst for many organisations to accelerate their move to cloud.
Trust is a major struggle for business leaders when it comes to change and digital transformation. In fact, only a minority of executives consider their organisations’ capabilities in cloud technology to be strong. Businesses often invest in increasing efficiency through cloud, knowing it will help them reduce costs, but various research shows that resiliency and security is not managed appropriately. Although some so-called emerging technologies have actually been around for decades, many business decision makers lack a strong understanding of how they work, what they can deliver, and what deploying them can achieve. The thought of integrating systems together is no longer a questionable move but a realisation.
collaboration is vital towards reaching new heights in terms of growth, prosperity and excellence.
As the CEO of Tech.mt, I thrive to see such transformations but also pledge to drive such transformations in the most resilient, inclusive, and effective manner possible. It is even more important for us, as public service agencies tasked with promoting research, innovation and technology to focus on supporting the local and fast-growing technology sector. If the pandemic has taught us anything, it is that collaboration is vital towards reaching new heights in terms of growth, prosperity and excellence.
The challenges being faced by our economy and society has prompted leaders and top management positions to cautiously engage with today’s new reality and empower new areas of collaboration and success. Whilst today’s digital economy comprises multiple facets and functions, it would be a huge fallacy for all players driving the digital economy to operate independently and unaided. In a few words, an ecosystem in which each player protects its own knowledge and interests will simply not work.
As Tech.mt, we remain committed to promoting and supporting organisations in this sector. We are today hand-holding companies in different industries including IoT, AI, blockchain and software development. I believe that this unprecedented new era calls for visionary leaders who despite their differences, can maintain a strong equilibrium between competition and collaboration and push for new frameworks to co-exist. Look for agility. Be aware, be open, begin the voyage.
