Digital disruption has penetrated every aspect of our professional and personal lives. It has changed the way we live, interact, transact, and relax. Advancements in technology have made our lives easier and more convenient as mundane activities that were time-consuming in the past can be completed with ease and at a dramatically increased speed. We are interacting with digital technology now more than ever before. and this has been accelerated in the last few months by the COVID-19 pandemic. Trends that were expected to take many years to become embedded in our lives have taken a few months.
Implications for companies
Digital disruption will impact companies as they seek to remain competitive now and, in the future, but it also provides a huge opportunity. Within financial services, technology allows customers to transact seamlessly and in real-time and helps organisations better understand their behaviour and needs to create a more personalised experience.
Many companies are actively working to establish and implement their digital transformation strategies in order to remain competitive by evolving to meet changing client needs. This is a significant change that encompasses several aspects including adopting new ways of working, reconsidering how systems are designed and built, and new skills and capabilities. It is no small feat by any measure!
A golden opportunity for Africa
There is a massive opportunity for Africa as a continent, given its young population, to skill its people appropriately for the future.
Technology clearly offers a compelling growth opportunity for African companies and economies. This amplifies the need for collaborative and bold conversations around digital disruption on the continent.
Be a part of the conversation
But what is required to maximise its positive impact on our lives? Who are the key stakeholders and what is their role in digital disruption? Is the existing regulatory framework sufficient for a world of digital disruption? These are some of the questions that will be answered in the Digital Disruption Series of webinars which Standard Bank is co-hosting with the Association of Black Securities and Investment Professionals (ABSIP).
We at Standard Bank, are passionate about driving Africa’s growth, and we value the importance of such conversations. They are critical in ensuring that the right questions are being asked and that whilst all the answers may not be readily available, key stakeholders are actively involved in contributing to thought leadership in digital disruption. Africa holds the potential
Stakeholders from various industries and sectors including Sim Tshabalala (Standard Bank Group, Chief Executive) and Funeka Montjane shared their thoughts and experiences which invite you to be a part of these conversations, more info on our social media platforms.