It is expected that the Eco-digital economy expected to double in the next five years to almost $33 trillion according to the Capgemini Research Institute’s latest report, ‘The Eco-Digital Era™: The dual transition to a sustainable and digital economy’ developed in collaboration with the Digital Value Lab at the Digital Data and Design Institute at Harvard.
According to the report, seven in 10 organizations agree that digitally driven business models will become a key contributor to revenue growth in the next three to five years.
Furthermore, 60% expect digitally driven business models to generate more revenue than their traditional business models.
The report also suggested that Investment in digital transformation from scaling up mainstream technologies and implementing cybersecurity measures, to reskilling the workforce and automating business processes is expected to result in the most significant returns over the next five years, from 4% at present to 14% in 2028.
The global workforce will require significant transformation to keep pace with technological advancements at scale across industries.
64% of organizations investing in reskilling their existing workforces, there is a need for flexible frameworks that allow for rapid evolution.
Moreover, the report also suggested that almost 40% of the total workforce due to be dedicated to digital initiatives in the next 3-5 years.
Methodology
The Capgemini Research Institute surveyed 1,500 senior executives (director level and above) from 1,350 large organizations with annual revenue of over USD 1 billion each (or annual budget of over USD 50 million each for public sector entities) and 150 startups valued at over USD 1 billion each.
The Institute also conducted in-depth interviews with 26 senior industry executives and experts. The organizations came from a range of sectors, including automotive, consumer products, retail, life sciences, banking and wealth management, property and casualty insurance, telecom, energy and utilities, aerospace and defense, technology, industrial manufacturing, and public services. They are based in 14 countries across North America, Europe, and APAC.
Note: We are also on WhatsApp, LinkedIn, and YouTube, to get the latest news updates, Join our Channels. WhatsApp– Click here, to subscribe to YouTube – Click Here, and for LinkedIn– Click Here.
