Digitalization and its Entrepreneurial Challenges

In a round table discussion Austria’s state secretary for science, research and economy Harald Mahrer spoke with industrial representatives about the challenges that digitalization holds for established companies and how they can compete in the future. TTTech’s co-founder and member of the board Georg Kopetz contributed his insights to this lively discussion.

Digitalization demands the courage to change processes and the commitment to invest. It requires a new mindset from executives as well as the general public. In the discussion Georg Kopetz pointed to the tremendous challenges that the automotive industry is facing. Automobile manufacturers have to tackle at least eight change vectors at the same time, which is placing a whole new set of demands on management.

Digitalization and its consequences also present challenges in the educational sector, where software skills must now be considered in addition to the traditional reading, writing and mathematics curriculum. The training and retention of a digital savvy workforce in Austria and in Europe is a major concern for a growing company like TTTech.

Comprehensive digital education combined with a relaxation of governmental regulations will be crucial for Austria to build a forward-looking digital economy and remain an attractive business location.

Read the full press release (in German) of this round table in our press corner.