The Roles of Stakeholders
The pandemic has forced business models to adapt, and this could have a beneficial impact on economic recovery. For example, many businesses have been required to adopt digital strategies in response to changing customer behavior, and, as a result, massive online platforms to digitalize and realign business operations using artificial intelligence have been created. Consequently, businesses can improve operational efficiency using these autonomous technologies, and more resilient production systems and supply chains can be created through this digital transformation of existing industries.
Emerging technologies that support automation and digitization can be used to create smart cities that will transform business and public services provision. Therefore, collaboration and coordination between technological, financial, and policy developments are now required to build digital competency and infrastructure for the post-pandemic economic recovery. Optimizing the benefits of technology will thus require solid government policy, private sector investment, and appropriate human resource allocation. Governments, in particular, need to take effective strategic decisions about transforming health, economic, and social sectors by adopting these innovative technologies.
On the other hand, digital technologies might have the potential impact to widen socio-economic inequality, for example by reducing human involvement in conventional jobs and requiring greater education and skill in the future workforce. Governments are therefore also required to continue any policies that support the digital transformation and enhancement of relevant skills in small and medium-sized enterprises (SMEs) to cope with the ongoing situation and to deliver full support to the creative industries ecosystem through digitalization such as in digital literacy, access, and infrastructure. Digital technologies will enable resilience in SMEs by giving them practical online tools and business platforms from internal production through to connecting with the market and their customers.
Such advancements will be a major push in speeding up the post-pandemic recovery when leveraging knowledge, technology, and data in relation to digital integration will be important. Digital technologies will improve our economic and social resilience.