Digital transformation: the path to social and economic reconstruction

The rapid speed embarked upon in March 2020 led us, in only five months, to reach a degree of uptake of technology that would have otherwise taken us five years to adopt.?This has consequently confirmed that digitization was already a reality before the pandemic and that now, more than ever, it is a remarkable opportunity to rebuild and relaunch the economy and our society.

?Likewise, if one thing has become clear in this evolutionary process, it is that technology and connectivity have become the two levers that have enabled further headway.

?This is not the first time that I have mentioned that this revolution is of far greater importance than the last industrial revolution and that we find ourselves in an advantageous position due to the deployment of infrastructures that have placed Spain at the forefront of Europe in terms of ultra-fast networks.

?Digitization denotes growth, quality jobs, sustainability, and inclusion. Expressed in economic terms, digital transformation could contribute up to 3.2 percentage points of annual growth to the European Gross Domestic Product (GDP) and 1.8% of the Spanish GDP up until 2025.

?Nevertheless, digitization, a term that has become a hot topic and has been widely quoted in the last few months, entails, in addition to having suitable networks, sufficient know-how and training to be able to foresee any future changes. Indeed, 2020 has highlighted the fact that uncertainty and the unknown are variables that we cannot afford to overlook.

?Embarking upon the digital transformation process implies enhancing the public-private partnership model that facilitates the advancement of initiatives and projects that foster the evolution of traditional models.

?Indeed, the NextGeneration EU funds initiated by the EU present us with an unparalleled opportunity thanks to the 140,000 million euros worth in funds that will be provided.?These funds will be instrumental in the recovery process and destined to repair the economic and social damage brought about by the health crisis in our country. Together with the long-term budgets previously approved, this meassure is the greatest financial stimulus to have been made available in our most recent history, i.e., a total of 1.8 billion euros to rebuild Europe and make it more digital, resilient, sustainable and capable of addressing the issues and challenges of the future.

?‘People-Digitization-Planet’, the catalysts for change

In this context of change and transformation, it is essential to pay special attention to three variables in order to achieve this recovery:

• People must be at the center of all decisions made and it is essential to ensure they are able to adapt to this digital environment thanks to training alternatives that promote reskilling, enhance resilience, and allow for new, more flexible formulae. We find ourselves living in times of profound change and the new ways of working we adopted throughout pandemic have transformed many of our habits. Models that are based on trust, sustainability and the well-being of the teams need to be enouraged, seeing that making work models more flexible is by far the best way to retain talent.
• Digitization, together with connectivity, as levers to drive change and achieve an inclusive and just society.
• The Earth: to promote an awareness of change since all gestures count. In this sense, companies’ involvement in complying with the SDGs will be essential to ensure environmental sustainability.

?These three variables go hand in hand as there is no doubt that people will play a key role in this transformative process. Currently, 65% of students have no idea what their jobs will be once they complete their studies as the labour market is experiencing its own adaptation to this technological environment. Training for new profiles and roles that the market is going to require is thus essential and, to be successful, it is vital for the educational sector itself to jump on the bandwagon of this revolution.

?This means that digitization is and will continue to be inevitable in all sectors and areas of activity that make up our society.

?However, that is not all. This process of digital transformation is already key to tackling energy transition. Evidence of its importance is that for every emission generated by the digital sector, triple the emissions are off-set in other sectors. Now that the borders between the physical and digital worlds have ceased to exist, we have the opportunity to face the ultimate challenge of our times: climate change without forgetting that we live in a place of finite resources and that we should therefore not consider the digital world to be inexhaustible.

?The triad 'people-digitization-planet' is the catalyst for change that must drive us to achieve economic revival, the modernizing of administrations and industry, the evolution of health and educational systems and a build back better society. To achieve this, not only will technology and connectivity be essential, but it will also require a profound industrial and cultural transformation and for people to be equipped with the necessary digital devices and skills.

?This is a colossal challenge but nevertheless, still achievable. We must relaunch the economy, reactivate consumption and rebuild people's lives, and this endeavor must be achieved by promoting equity, inclusiveness, and sustainability.

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