Economic transformation is on the menu as companies begin to grasp the impact of an ever more connected world. Those connections revolve around new ways to contextualize data, pursue value-led sustainability and preserve the positive effects of globalization.
Prepare for pervasive intelligence
Say goodbye to 5G — we’re entering the 6G era of an intelligently autonomous, sensory, massively distributed but highly networked world that blends our physical, digital and human systems. Data will be created on an unimaginable scale, changing how we convene, collaborate, create and contextualize. In this world of “pervasive intelligence,” the capabilities of companies and people will be dramatically augmented, boosting productivity, efficiency and sustainability. To harness the power of pervasive intelligence, companies need to create the right business models and use cases while working with ecosystem partners to build the right tech architectures to facilitate it. These efforts present a multiyear journey, during which companies must put people at the center of their transformations, as both co-creators and beneficiaries. EY teams share which steps you should take now.
Read more: How emerging technologies can usher in the dawn of pervasive intelligence
Invest in sustainability
Climate change is everybody’s business, and companies understand that the private sector has an important role to play. But faster and deeper progress on climate action is needed to meet global targets and avoid the most dangerous impacts of climate change. The good news is that sustainability action pays off financially: 69% of the companies we surveyed reported higher financial value like revenue growth and earnings from decisive climate action. Embracing value-led sustainability can help companies unlock more value from their climate actions and accelerate sustainable business transformation. We offer five actions for companies to take across measurement, governance, product and customer offerings, operations and supply chain, and suppliers. These actions range from the incremental to the transformational — and the earlier companies start, the more they can learn.
Read more: How can slowing climate change accelerate your financial performance?