The Economist Intelligence Unit editorial team discuss the Global Business Barometer, what its findings mean for companies and industries today and the possible shapes of recovery.
The surge in importance of virtual experiences and processes during the pandemic has accelerated digital transformation because they’ve been so effective at ensuring business continuity. The sudden shift to remote work and virtual experiences has underscored and the critical value of data, analytics and AI as key components of operational agility.
Digital transformation has been a priority of most governments and businesses for many years, and covid-19 has amplified the need for it, as well as the impact of not doing it. But either way, governments and businesses agree that digital transformation is an important way to navigate their way out of the current crisis.
The latest barometer results show executives starting to consider recovery. Have attempts to reboot industries and wider economies led to success or new downward dips? Watch these videos to see how business sentiments changed since April.
As much of the world may be emerging from the worst of the covid-19 pandemic, parts of the United States continue to see growth in cases, hospitalizations and deaths at levels even higher than the original outbreak. The economic viability of many regions has been severely compromised and continued virus outbreaks reduce the ability of communities to recover quickly.
The third edition of The Economist Intelligence Unit’s Global Business Barometer (GBB), fielded in June, tracked sentiment as global executives started thinking about recovery. Readings reveal a variety of views. The most optimistic would create a V-shaped chart. Should more disruption follow, we might see a volatile W-shaped recovery. More likely is a U-shape, where economies tred the bottom for a period before a gradual upturn.