The World Economic Forum Annual Meeting this year focused heavily on digital transformation. However, in light of the impending recession, many businesses are reconsidering their transformation strategies.  Do you think they should prioritize digital transformation even during a downturn or stall it?

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Director in Manufacturing, 1,001 - 5,000 employees
As with all projects, they should be analyzed for overall benefits, ROI benefits, Customer and Employee benefits, etc.   Those projects that deliver on the most important goals should go forward.  If the project with the best ROI happens to be aligned with transformation, great proceed.  I believe the total number of projects going forward in 2023 and beyond will be less until the economic forecasts are better.  Basically the hurdles for any project to go forward will be higher than they were in the past few years.

Chief Executive Officer in Services (non-Government), 51 - 200 employees
I believe businesses should continue to prioritize digital transformation even during a recession or market downturn. Digital transformation can help organizations reduce costs and improve efficiency, allowing them to remain competitive despite a challenging economic climate. We've seen how digital transformation has enabled businesses to innovate and stay agile, allowing them to capitalize on opportunities quickly and stay ahead of the competition.
Director of Marketing in Media, 51 - 200 employees
Even during a downturn or recession, digital transformation can be an effective investment for businesses. Digital transformation can help businesses to become more efficient, cut costs, and increase agility, which can be beneficial in any economic climate. For example, businesses can automate mundane processes, which can reduce overhead costs. I think that's what businesses really need during recession, they can leverage data analysis to more accurately evaluate and adjust their strategies. Despite the current economic climate, digital transformation can offer many advantages, and can be well worth the investment for businesses.

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CTO in Software, 201 - 500 employees
Without a doubt - Technical Debt! It's a ball and chain that creates an ever increasing drag on any organization, stifles innovation, and prevents transformation.
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