As this is OAS’ last newsletter for 2022, we would like to wish all our readers a festive and safe holiday season and hoping 2023 is a prosperous year for you and your families.
2022 in review proved to be a difficult year, particularly for South Africa. Continued loadshedding, stagnant growth and ongoing pollical instability has had a downward trend on the economy. However, the year did see some positives, the lifting of Covid 19 restrictions which allowed for growth and normalization of the Travel and Hospitality industry.
Another big positive is the development of the Just Energy Transition plan, with an estimated R1.5 trillion investment, endorsed by the International Partners Group (IPG). Already the IPG has pledged $8.5 billion in assisting South Africa transitioning from dependency on coal for energy to cleaner alternative sources. This could offer a massive boost to the South African economy.
From an international perspective The Conference Board suggests that the “Global leading indicators point to weakening momentum and global purchasing manager indices are nearing contractionary territory.” Thus, it is possible that the US and the Euro-Area are heading for a recession. How deep the recession will be is anyone’s guess.
However, for organizations, to survive the next year and ensuring long term growth the focus must be on identifying new opportunities, embracing digital transformation and automation, enhancing the Hybrid working model, where possible, and recruiting and /or keeping skills that will meet the overall business goals.
The 10-year economic outlook.
A prolonged period of distributions and uncertainties for businesses, however there are opportunities. The Conference Board – read more
Trends for 2023 – Gartner top 10 key technology trends.
Gartner in their report Trends for 2023 – Gartner top 10 suggests that “technology is key, but companies have to know when and where technology trends will potentially have an impact.”
The report lists 10 key technologies trends that organizations could leverage to ensure business growth for the next 36 months, which are divide into three categories - namely:
Digital Immune System
Applied Observability AI
Trust, Risk, Security and Management. AI TRISM
Industry Cloud Platforms
Wireless- Value Realization
To view the full report, download here.