Another angle to consider is that the pandemic will result in a shake-up of markets on a scale that dwarfs that of the 2008 economic crash. Weak businesses will lose to the strong, slow businesses to the smart. In the resultant shark-fest, speed, agility and the ability to efficiently deploy resources will differentiate winners from losers. There will be no time to make decisions based on internally developed evidence. Leadership during this crisis is about making judgement calls based on experience and belief. There is enough general evidence of the benefits of industrial digitalisation for business leaders to believe in it and commit to it, particularly in the light of the current crisis.
That businesses now face exceptional challenges is a given fact and exceptional measures will be required before a new economic equilibrium is reached. For industrial companies, digitalisation represents a sure way to create a leaner, more efficient organisation capable of quickly responding to or driving changes in the market. Investing in 4IR is a sure way not to waste a good crisis.