The Importance of Digitization in a Post-COVID World

 

America’s network landscape is quickly evolving thanks to new technologies like 5G. It is redefining the way we do business, learn and connect with each other. But we’re not there yet.

A lot needs to happen, from the budget to build to the software to connect and the spectrum to support all use cases.

On this episode of Nokia Today, host Shelby Skrhak talked with Fuad Siddiqui, Senior Partner and Vice President of Nokia Bell Labs Consulting. There, he leads a team of futurists looking into global macroeconomics, new market models and value-creation strategies. They talked about digitization in a post-COVID world.

In January, Nokia released a whitepaper called “The Big Inversion,” How 5G+ Technologies Will Create New Value for Industries In a Post-Covid World. The paper detailed the need for digitization across all industries, which the COVID-19 pandemic highlighted. The industries that had already invested in digital infrastructure weathered the global crisis significantly better than their counterparts.

“It’s a very opportune time for the industry, as lots of technological advancements are happening,” Siddiqui said. “Lots of technological factors and social factors are all coming together.”

This is why they thought it was a good time to put out the paper. According to Siddiqui, the pandemic massively disrupted our lives and business, but what it also did was usher in an era of accelerated digitization. For companies to prepare themselves for such future challenges, they must achieve a high level of digitization.

“That has not only the potential to enhance industrial growth and profitability but also benefit society and the economy,” Siddiqui said.

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