According to the latest report, Huawei presented the Global Connectivity Index (GCI) 2020, the seventh annual GCI report published by the company. For the first time in a GCI report, the 2020 annual edition presents the five key stages of digital transformation: work efficiency, operational efficiency, system efficiency, organizational efficiency & flexibility, and ecosystem efficiency & resilience.
The GCI report proposes the five key stages of digital transformation in the financial sector:
- Stage 1: Work efficiency. Emphasis is placed on monitoring the completion of individual tasks through basic connectivity and more effective communication.
- Stage 2: Operational efficiency. The computerized or automated functions activated by the IT & Communication Technology Solutions make it possible to simultaneously manage multiple tasks and share information.
- Stage 3: System performance. More focus is on digitizing core system functions for efficient functions. Businesses at this stage will be in greater demand for connectivity and Cloud services.
- Stage 4: Organizational efficiency & flexibility. Business processes are digitized, corporate applications are transferred to the Cloud and all systems are integrated efficiently. In addition, high-coverage networks, the widespread adoption of cloud applications, and the development of AI and IoT technology contribute to real-time data and information analysis.
- Stage 5: Efficiency and resilience of the ecosystem. The whole ecosystem is digitized, able to respond quickly to market changes and to support the automatic coordination and cross-sectoral cooperation of stakeholders. Representative technologies such as 5G , IoT and robotics present new opportunities for the emergence of new business models, working methods and products throughout the digitization process.
The GCI reports aim to provide policymakers and economic operators with valuable insights that can help them accelerate the growth of the digital economy. The 79 countries evaluated by GCI 2020 represent 95% of world GDP and 84% of the world’s population.