What's In Store

Look ahead to 2021's tech trends with Deloitte's experts

Nothing like a global pandemic to make everyone refocus. Photo by Colin Anderson Productions/Getty

As poet Robert Burns mused, the best-laid plans of mice and men often go awry. In January 2020, most of us had plans —thoughtful road maps to guide our organizations, our technology, and our lives through the months to follow.

And then COVID-19 punched the entire world in the mouth, rendering useless many of these best-laid plans.

Seemingly overnight, a strange, historic event disrupted our assumptions and forced us, with a shocking degree of urgency, to become more adaptable and responsive than we had thought possible.

Mindful that the pandemic's impact continues to ripple across societies, markets, and lives, we present Tech Trends 2021. The theme of this year's report is resilience. To Deloitte, this means a stubborn determination to adapt and thrive in the face of change.

We have seen countless, inspiring examples of resilience this past year as organizations and entire sectors assessed their circumstances, revised their strategic plans, and marched toward the future. We anticipate that for most, the future they find will differ markedly from the realities of January 2020.

The COVID-19 crisis has driven change in an important and unexpected way. A growing number of organizations across sectors are accelerating their digital transformation efforts not only to make their operations nimbler and more efficient, but to respond to dramatic fluctuations in demand and customer expectation.

For example, while many supply chain leaders were confident of their ability to function during disruptions, we found out, as Warren Buffett once quipped, who was swimming naked when the tide went out.

Likewise, executive-level planning discussions about the future of work had been just that: about the future. The pandemic crashed comfortable schedules from years into weeks.

Continue reading this year's Tech Trends report on Deloitte's website to explore the opportunities, strategies, and technologies that will drive new plans during the next 18 to 24 months and beyond.

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The biggest obstacle is a lack of open-mindedness and an unwillingness of people across the industry and across generations to work together. Photo via Getty Images

What’s the biggest obstacle between us and net-zero? Is it policy? Technology? Financing? All of these are important, yes, but none of them is what is really holding us back from our energy transition goals.

The biggest obstacle is a lack of open-mindedness and an unwillingness of people across the industry and across generations to work together.

In October of 2022, I was invited to speak at Energy Dialogues’s North American Gas Forum, a conference that brings together executives from across the energy industry. Over the two days of the conference, I was amazed by the forward-thinking conversations we were having on decarbonization, the future of clean energy, emissions reduction, and much more. I returned back to campus at Duke University, energized by these conversations and excited to share them. But rather than seeing the same sense of excitement, I was met with doubt, disbelief, even scorn.

There’s a fundamental distrust between generations in this industry, and it goes both ways. Experienced energy professionals often see the younger generation as irrational idealists who are too politicized to be pragmatic, while the younger generation often paints the older generation as uncaring climate denialists who want nothing to do with clean energy. Neither is true.

Over the past two years since founding Energy Terminal, I’ve met hundreds (maybe thousands) of people all across the energy industry, from CEOs of major energy companies to students just getting started on their career journey. Despite being so different on the surface, their goals are strikingly similar. Almost all can agree on three things: we want to reduce emissions, we want to expand energy access, and we want to do so while encouraging economic prosperity. The perceived barrier between generations in the energy industry is exponentially larger than the actual barrier.

For experienced professionals — take a chance to engage in conversations with young energy leaders. Understand their priorities, listen to their concerns, and find the middle ground. We are a generation passionate about impact and growth, and enabled with the right resources, we can do incredible things. The changing energy world presents unbelievable opportunities for both progress and profit, but without the next generation on board, it will never be sustainable.

For the young energy leaders of the future–listen to the experiences of the leaders that have come before us. Understand the balance between energy that is clean with energy that is secure, reliable, and affordable. We have brilliant ideas and an insatiable appetite for progress, but we won’t do it alone. Every person and every company has a valuable role to play in the energy transition, so consider how we can amplify our strengths rather than attack each other’s weaknesses.

If my co-founder, a climate activist from New York, and myself, the son of an oil and gas family from south Texas, can do it, so can you. This is a call to find the middle ground, to open up your mind to new possibilities, and to make real progress by working with each other rather than against each other.

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Michael Wood III is co-founder of Energy Terminal, a platform that aims to build the next generation of energy leaders and to bridge the gap between youth and the energy industry.

This article originally ran on EnergyCapital.

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