Demand for physical and manual skills in repeatable tasks will decline by 30 percent, while demand for literacy and numeracy skills would fall by 20 percent. In contrast, the demand for technological skills will rise by more than 50 percent, and the need for complex cognitive skills will increase by one-third.
There are 273.6 million vehicles registered in the U.S. — that’s an average of 1.97 cars per household, which could drop to 1.87 post-pandemic. The cumulative effect of people driving less is that the equivalent of 14 million fewer cars will be needed.
“Future banks will operate in different modes: direct to consumer, as-a-service, marketplace seller, and platform owner — all of which may operate concurrently. Yet no bank will do any of this alone.”
Analysis suggests that roughly 40% of U.S. workers will continue working from home in the near term — up from 7% pre-COVID — and this percentage could settle at different levels, depending on the timing of a vaccine alongside business risk aversion.
via Morgan Stanley
Cloud computing allows oil and gas companies to scale their data management and storage, driving greater flexibility in infrastructure costs. The high computing power delivered via cloud platforms supports the adoption of other technologies such as the intelligent management of physical assets.
The Remote Work Survey shows that 73 percent of employees would like to work remotely at least two days a week, even once COVID-19 is no longer a concern. Similarly, 55 percent of executives are prepared to expand options for employees to work outside the office.
According to the latest worldwide market study by Juniper Research, the total value of B2B cross-border payments will reach $35 trillion in 2022. That’s up from a COVID-related low of $27 trillion in 2020, representing 30 percent growth.
“For the past 10 years, a variety of game-changing emerging technologies were a big focus for companies looking to innovate and differentiate. This tech enthusiasm may deflate during the next few years. Begin thinking about restructuring plans for digital transformation in the current environment.”
Everest Group predicts that the spend on IT services in the capital markets industry will decline 2.1% in 2020 due to COVID-19, with outsourcing spend seeing a dip of -3.7% as firms reallocate resources and cost transformation initiatives are prioritized.
via Everest Group