How are corporate executives thinking about and responding to the financial, organizational and staffing challenges of the COVID 19 pandemic? Up to the this point, we haven’t had a very clear view of how CEOs and CFOs see their options, and the plans and priorities they are now considering. More importantly for our purposes, what are the implications and consequences for freelancers and independent professionals?
PwC has helpfully published two interesting reports. The first is PwC’s 2020 CEO survey, published at the end of March, and involving chief executives from a variety of industries and geographies. The second is a survey of corporate CFO executives, also recently published.
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The PwC report notes that “This is a time to protect digital technology investments that form a bedrock for growth in any cycle.” AI, blockchain, Internet of things (IoT), virtual reality, 3D printing and combinations of these, are seen as strategic cost-cutting and revenue-generating opportunities. Most executives (63%) say 41R provides protection during a sluggish economic period, according to PwC’s Consumer Intelligence Series survey of 4IR adoption.