CIO OPINION upwards revision from the December 2020 Economic Outlook projection of 4.2 % for 2021 . This optimism is , in part , driven by the global rollout of vaccines . However , it is more than that . Businesses around the world have adapted , becoming more efficient and technologically savvy in this period .
Adapting to accelerate new realities everywhere is critical to making it truly sustainable . To truly flourish once more and make today and tomorrow ’ s realities more vibrant and efficient than before , we must continue to focus on sustainable , tech-driven and human-centred solutions that help to bridge socio-economic divides .
Collaborating for the greater good
Practical innovations that kept businesses afloat over the best part of almost two years ranged from embracing virtual desktops and video conferencing to more advanced data processing in our hospitals and banks . Meanwhile , investments into cloud-based technologies as well as AI and Machine Learning are allowing entire industries to communicate with citizens , customers and service users in a faster , more personable fashion while also automating various back-end processes that previously may have been both a financial and time drain .
While prospects are improving , progress globally remains uneven and highly dependent on the farreaching rollout of effective vaccination campaigns as well as continued , targeted government stimulus packages . It took only 18 months for the USA and Korea to reach pre-pandemic per capita income levels , while much of Europe is on track to recover by the end of the year or early 2022 . The South African economy is projected to rebound by 3.8 % in 2021 and 2.5 % in 2022 .
As progress continues across large parts of the globe , ensuring that the recovery benefits everyone ,
Next year will bring increased vaccine sharing as governments further address the reality that recovery from the pandemic needs to be truly global . COP26 present a major moment for international co-operation , allowing us to showcase our ability to think strategically and work together to respond to global climate challenges . This will be incredibly important over the next year as key events from G7 meetings to the UN General Assembly will present us with opportunities to share lessons on how to boost recovery .
Globally , governments have paved the way for recovery by investing in stimulus spending . The next step in our
As we enter a new chapter – coinciding with the technology revolution that promises an explosion in Big Data with 5G speeds – digital tech has an even greater role to play .
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