In an unconventional year, innovation became business critical. Firms innovated in response to the immediate challenges presented by COVID-19. Before the crisis, a lack of appetite for digital adoption held many businesses back, but amid widespread disruption, standing still was not an option. With pressing challenges prompting new-found buy-in at every level of the business, the pace of change has been extraordinary.
Through a survey, regional roundtables and insight from the CBI’s Innovation Adoption working group, the new CBI and Microsoft report ‘Tech Tracker 2020: the innovation imperative’ highlights how businesses have adopted new technologies and processes, the challenges they have faced and their underlying motivations to innovate.
Businesses have innovated at pace. COVID-19 means many more businesses have embraced digital basics and are getting the most out of them with the vast majority applying readily available solutions such as video conferencing and cloud computing. Investments in data are helping businesses unleash the potential of digital technologies. But for many, more advanced technologies, that could have real operational benefits, remain a future “nice to have,” especially for smaller businesses.
The boundaries of the new world of work are yet to be defined, but whatever the future looks like, techno