Date Published: October 31, 2022
"Chaos is come again”
-William Shakespeare
What is Chaos? According to Oxford Dictionary, it’s “behavior so unpredictable as to appear random, owing to great sensitivity to small changes in conditions.” Or in physics, “the formless matter supposed to have existed before the creation of the universe.”
While the changes in conditions around us are hardly small, according to KPMG’s Economic report by Chief Economist Diane Swonk, they ladder up to:
1) the risk of the global recession
2) the unique role the Federal Reserve will play in determining the outlook
3) The risk of chronic scarcities
“We are moving out of a world of abundance, in which what seemed an endless supply of cheap labor and cheap goods from abroad is being supplanted by a world of scarcity.” “The only silver lining to those clouds is technological innovation.” (KPMG Economics)
Innovation, remember, by people.
It’s not enough just to create new technology. How we chose to leverage it - through communication and connection - is what will shape the world around us, including the way we do business.
Spending on digital transformation, cloud computing, and cyber security continues into 2023, while artificial intelligence (AI), the internet of things (IoT), virtual and augmented reality (VR/AR), blockchain, and network protocols like 5G, are on the rise.
SWZD’s Annual Report on IT Budgets and Tech Trends says that roughly half (51%) of organizations plan to increase IT budgets in 2023. Only 6% plan to cut back on tech spending.
Scarcity forces focus. To use the tools we have to their full extent. Get creative.
So while our view is certainly more optimistic and egalitarian than Petyr Baelish’s in his declamation to Varys in Game of Thrones, S3, "Littlefinger" had one thing right - Chaos is where you find the leading edge.
“Chaos isn’t a pit
Chaos is a ladder
Many who try to climb it fail
And never get to try again
The fall breaks them
Only the ladder is real.
The climb is all there is."
-Game of Thrones, HBO
#chaos #tech #scarcity #economy #digitaltransformation #cloudcomputing #cybersecurity #blockchain #5G #AI #VR #AR #HBO #GOT #Shakespeare #EvolveYourStory #HappyHalloween
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