A new survey of over 500 senior decision-makers within UK businesses has revealed the impact the coronavirus pandemic has had on business innovation:
- 45% said their business has undergone the most radical digital transformation in its history
- Half (50%) of businesses said the pandemic has provided the incentive needed to improve their digital infrastructure
- 47% of businesses have successfully migrated their offering from in-person to online
- 39% have invested in a new area of technology they have never previously used
- One in five (22%) have launched a new app
The coronavirus pandemic has accelerated the rate of digital transformation taking place within UK businesses, new research from Studio Graphene has found.
The London-based tech developer commissioned an independent survey among over 500 decision-makers within UK businesses. Half (50%) said their company has been incentivised by the pandemic to improve its digital infrastructure.
According to 45% of businesses, the onset of COVID-19 has resulted in the most radical digital transformation in their history.
Since the start of the lockdown in March 2020, 50% of businesses have adopted new tech solutions that they were previously hesitant or reluctant to use. Almost two-thirds (64%) said the pandemic has encouraged their business to explore and deploy digital solutions much faster than they would have otherwise.
The survey found that 47% have successfully migrated their offering from in-person to online; 39% have invested in a new area of technology that they had never used before; and 22% have launched a new app.
Almost half (48%) of decision-makers said the pandemic has exposed how outdated their business was in the use of technology, with 45% admitting that their risk-averse company culture has typically made it difficult to innovate and embrace new ideas.
Ritam Gandhi, founder and director of Studio Graphene, said: “They say necessity is the mother of invention, and the pandemic is evidence of that. While COVID-19 has put unprecedented strain on businesses, it has also been key to fast-tracking digital innovation across the private sector.
“The research shows that the crisis has prompted businesses to break down the cultural barriers which previously stood in the way of experimenting with new digital solutions. This accelerated digital transformation offers a positive outlook for the future – armed with technology, businesses will now be much better-placed to adapt to any unforeseen challenges that may come their way.”