Digital Transformation of Businesses in Times of Global Crisis

Lavinia-Andreea Gruia (), Nicolae Bibu, Alexandru Roja, Doina Danaiață and Marian Năstase
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Lavinia-Andreea Gruia: West University of Timisoara
Nicolae Bibu: West University of Timisoara
Alexandru Roja: West University of Timisoara
Doina Danaiață: West University of Timisoara
Marian Năstase: Bucharest University of Economic Studies

Chapter Chapter 4 in Navigating Through the Crisis – A special Issue on the Covid 19 Crises, 2022, pp 43-62 from Springer

Abstract: Abstract Our aim is to discuss the acceleration of the implementation of digital transformation based on artificial intelligence and data due to the COVID-19 global pandemic. Given the current global context, businesses are fundamentally reshaping. We have identified that digital transformation of businesses is accelerating. Every aspect of the business is changing starting from how employees work, monitoring supply chains, and continuing to how businesses are changing various processes by using automation on a widespread scale. It is important to mention that while some businesses, mostly those with a business model based on online activities, are thriving in this global crisis because of the increasing number of consumers, several other companies are seeing a decline in customer numbers and business turnover. The decline due to COVID-19 lockdown is not seen only in businesses that offer tangible products but also in the digital business of the sharing economy due to decrease of both demand and offer. Consuming patterns of customers are changing, and now more than ever businesses must harvest the data for getting better insight. Our methodology consisted of academic literature research, data analysis, and case study of relevant businesses.

Keywords: Digital transformation; Data; Artificial intelligence; Global crisis (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-030-82755-7_4

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DOI: 10.1007/978-3-030-82755-7_4

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