The newly launched report delves into the digital innovation landscape as well as how globally, digital innovation has been accelerated due the COVID-19 pandemic. In the report, BCX CEO, Jonas Bogoshi was cited saying that “during the pandemic, digital innovation became a matter of survival. Business continuity depended on it.”

The report outlines the following Digital Innovation Global Trends:

  • Resilience and risk-proofing;

  • The trust paradox;

  • Rise of the platform economy;

  • Transhumanism;

  • Uberisation of industries;

  • Digital reality as frontier technology;

  • The hyper-personalisation of the customer journey;

  • Industry 5.0;

  • Data as 21st Century oil; and

  • The automation wave.

In spite of the devastation brought upon global markets and economies by the pandemic, the report states that COVID-19 has brought inadverted benefits to the global markets and economies which drive digital innovations. These include accelerated governance, remote working, higher supply chain flexibility, booming e-commerce, the digitalisation of the customer journey, and synchronised recovery.

Even though the report clearly acknowledges that the use of digital innovation to address challenges is the way forward; it also states that there are challenges to the progression. The report cites digital skills gaps, personal information protection acts, legacy infrastructure, disinformation, cybersecurity threats, and antitrust push as the restraints to digital innovation,

The rest of the report further investigates the macro and micro enablers of digital innovation, technologies fuelling innovation (such as AI and cognitive computing), and the state of digital innovation in South Africa.

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