Leveraging Tech Talent and Digital Transformation During Brexit and COVID-19

Digital transformation ripples through the U.K.

Brexit wasn’t just a hashtag that raged across social media five years ago. It has ushered in a whole new governance and trade climate to the United Kingdom.

As the transition period came to a close, Brexit marked the end of almost five decades of Britain’s membership in the European Union (E.U.).

There are still certain question marks about the impacts of Britain’s exit from the E.U. single market, but digital transformation is surely a window of optimism in the U.K. Despite all the Brexit-related challenges, the U.K. is one of the top ten economies in the world and is the third-largest in Europe.

The key drivers of growth are services, particularly insurance, banking, and professional services. In fact, London is the world’s second-largest financial hub. So, the country being a powerhouse of digital business is not surprising.

Brexit has U.K. businesses fretting about unexpected regulatory changes. Several companies are investing to make sure they can seamlessly move into being a non-EU organization. This includes compliance with the General Data Protection Regulation (GDPR). There are open banking laws in the country that already require banking institutions to open APIs to third-party developers. As such, the region is becoming one of the fastest-growing hubs for financial technology. New-fangled digital services, for example, banking as a service, will likely see additional growth if there is any further deregulation.

U.K.’s technological advancement can be witnessed from its telecommunication network, which has set the bar high for many developing nations. It is one of the largest telecom and mobile markets in Europe, and it aims to transit completely to the fibre network by 2033. The much-awaited 5G network is already rolling out, and some of the best tech talents are behind it.

COVID-19 and digital transformation

Then came the COVID-19 pandemic, which has caused the country to lose trillions of pounds owing to the suspension of trade and commerce. The battle against the virus in the country is still on, despite it reaching an impressive nationwide vaccination mark.

However, the COVID-19 pandemic is a blessing in disguise for many U.K. businesses because it has set the trend for cloud adoption. A handful of companies in the country have leveraged cloud technology—a big gift of today’s digital transformation—to automate a wide range of business processes.

When remote work became a full-blown trend during the pandemic, the country’s businesses were able to meet their communication needs by increasing bandwidth and beefing up their security solutions.

So, both Brexit and the COVID-19 pandemic have brought forth digital transformation trends across the U.K. These trends have compelled businesses to adapt to agile, fast and innovative digital infrastructure to remain competitive on a global level.

To stay abreast of these times, you can contact Chameleon I.T. Solutions. We love improving people’s lives by finding you your dream job or the perfect candidate.