Why The Urgency For Innovation Has Never Been Greater

Co-Founder & CEO of corporate venture-builder FoundersLane, a serial entrepreneur building business up to IPOs and author of ”Fightback”.

It’s hard to imagine the pandemic without digital technologies. In the West, how would we have made it through lockdown, both in a business and social sense, without Zoom calls, community support, WhatsApp, Slack, the latest Netflix docuseries and more?

These business tools, sources of entertainment and ways to stay socially connected have kept our lives together in the face of an unthinkable change. But while it is encouraging to see how technology has helped us deal with this unprecedented challenge, there is a massive delta between our technological possibilities and what we made of them to cope with this crisis. This gap is the result of inertia, of inefficiencies in the ways we orchestrate progress, and it is a factor in the human tragedies that are unfolding now.

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Impact of COVID-19 increases urgency of digital technology investments for oil and gas; skill gaps within the workforce hinder ROI

HOUSTON, Sept. 29, 2020 /PRNewswire/ — Ninety percent of oil and gas executives agree that investment in technology and workforce are essential to surviving current market conditions, according to a new EY survey: Oil and Gas Digital Transformation and the Workforce Survey 2020. In fact, 58% said the COVID-19 pandemic has made investing in digital technology more urgent, with a majority planning to invest a great deal (29%) or moderate amount (51%) relative to their total budget.

“The COVID-19 pandemic has accelerated the timeline for some digital technology adoption from five years to three months,” said Andy Brogan, EY Global Oil & Gas Leader. “The cost savings digital can deliver is critical for survival in today’s low-price environment, as oil and gas companies look to gain greater operational efficiencies and drive productivity across the value chain. However, to capture the full value of these investments, oil and gas

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